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OrthoPediatrics announces plans for expansion
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OrthoPediatrics recently announced the launch of the new Response Spine System and ACL Reconstruction System, a step that will expand the company’s reach from the pediatric trauma and deformity-correction market into the scoliosis and sports medicine markets, according to a press release.
To support the launch, the anticipated subsequent employment increase and other capital-intensive initiatives, OrthoPediatrics has negotiated a $37 million equity investment by its largest shareholder and financial partner, Squadron Capital. This investment will be used, in part, to support OrthoPediatrics’ sales growth in 28 countries and will also enable the company to reduce and restructure the debt on its balance sheet, the release said.
“In an environment where major orthopedic companies are consolidating and cutting headcount, OrthoPediatrics is expanding employment and investing in important new surgical systems,” Mark C. Throdahl, president and CEO of OrthoPediatrics, said in the press release. “We are successfully implementing our strategy of building an enduring orthopedic company and surrounding pediatric orthopedists with all the surgical systems they need.”