MD Orthopedics is acquired by OrthoPediatrics
WAYLAND — Indiana-based orthopedic company OrthoPediatrics announced the acquisition of Wayland-based MD Orthopedics.
MD Orthopedics is a manufacturing company that develops and markets custom bracing systems that support the gold standard treatment for clubfoot known as the Ponseti Technique.
Wayland has been the headquarters of MD Orthopedics since 2004.
According to a press release from OrthoPediatrics, they “will acquire MD Orthopedics in a transaction valued at $19.6 million. Under terms of the agreement, OrthoPediatrics will acquire MD Orthopedics for an upfront cash payment of $8.2 million and $8.9 million in company stock, with an additional $2.5 million in restricted stock that will will vest after three years.
“We believe MD Orthopedics will be a springboard for our expansion into non-surgical pediatric orthopedic treatments for children and will further support our mission to help children living with orthopedic conditions,” said David Bailey, CEO of OrthoPediatrics. The addition of specialty non-operative bracing systems advances our growth strategy of providing a broad portfolio of products specifically designed to treat children while providing pediatric orthopedic surgeons with the most comprehensive product offering available.
According to their website, OrthoPediatrics was founded in 2006 and is an orthopedic company focused exclusively on pediatric orthopedics.
“OrthoPediatrics currently markets 37 surgical systems that serve three of the largest categories in the pediatric orthopedic market,” their site says. “This product offering covers trauma and deformity, scoliosis and sports medicine/other procedures. OrthoPediatrics’ worldwide sales organization focuses exclusively on pediatric orthopedics and distributes its products in the United States and 45 countries outside of the United States.
“This acquisition will expand the range of orthopedic products available to our customers and introduce MD Orthopedics products to an even wider audience of orthopedic surgeons, orthotists and physiotherapists worldwide,” MD Orthopedics says of the acquisition.
“Please know that the MD Orthopedics team will continue to operate as usual and that our Mitchell Ponseti and Ponseti branded product line will remain separate from the OrthoPediatrics catalog,” said the MD Orthopedics press release. “Our focus will remain on supporting the global clubfoot community with best-in-class orthotics and continuing to build new sales channels within the EU, UK and rest of the world.”
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