OrthoPediatrics acquires Boston Orthotics & Prosthetics
Click Here to Manage Email Alerts
Key takeaways:
- OrthoPediatrics has acquired Boston Orthotics & Prosthetics.
- The acquisition includes the bracing, orthotic and prosthetic technology of Boston Orthotics & Prosthetics.
OrthoPediatrics Corp. has announced the acquisition of Boston Orthotics & Prosthetics, according to a press release.
OrthoPediatrics, which closed $80 million in debt financing to support the acquisition, will acquire the product portfolio of Boston Orthotics & Prosthetics (Boston O&P), including its bracing, orthotic and prosthetic technology.
“We are thrilled to announce the acquisition of Boston O&P, an organization that shares our mission to help children whose lives have been impacted by orthopedic conditions. We are now the first company to have a role supporting the entire continuum of care for pediatric orthopedic patients,” Dave Bailey, CEO of OrthoPediatrics, said in the release. “Boston O&P offers unique products designed specifically to address unmet pediatric needs in several of the largest nonsurgical orthopedic treatment markets. Adding their complementary portfolio to our platform will offer additional options to our current surgeon customers to help manage patients before and after surgery,” Bailey added.
“We are excited and proud to be joining the OrthoPediatrics team. It is truly amazing how similar the two companies are and in our shared passion for taking care of kids,” Tom Morrissey, general manager of Boston O&P, said in the release. “We remain committed to improving the quality of pediatric orthotic and prosthetic care and related products kids receive, and the resources OrthoPediatrics will provide can expedite greatly the achievement of that mission,” he said.
The acquisition closed on Jan. 5 for an upfront cash payment of $22 million, according to the release.
Read more about
Click Here to Manage Email Alerts