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DJO Global acquires Exos Corporation
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DJO Global Inc. announced that its indirect subsidiary, DJO LLC, a wholly-owned subsidiary of DJO Finance LLC, signed a merger agreement with Exos Corporation and consummated the acquisition of Exos, both effective December 28, 2012.
According to a press release, the merger will not impact DJO Finance’s (DJOFL) reported net sales since DJO LLC, is already the distribution partner for Exos. However, the merger is expected to increase DJOFL’s operating margins and operating income from the sale of Exos products.
Although the financial terms of the merger have not been disclosed yet, the company indicated that, on a pro forma basis, taking the acquisition of Exos into consideration, it does not expect any material changes in DJOFL’s ratios of net first lien debt or net total debt to pro forma consolidated EBITDA.
“It has been a pleasure working with Exos over the past 15 months,” Steve Ingel, president of DJO Global’s Bracing and Supports business unit, stated in a press release. “With the combination of Exos’ unique technology and out distribution network, we have been able to make significant headway I the marketplace. We welcome the entire Exos team to our DJO Global family and look forward to working together with them to launch more products incorporating the Exos technology to more customers in more geographies around the world.”