The acquisition of Pega Medical, including its Fassier-Duval Telescopic Intramedullary System, will help OrthoPediatrics expand its array of trauma and deformity systems for paediatric orthopaedics
OrthoPediatrics to buy Pega Medical and its Fassier-Duval Telescopic Intramedullary System. (Credit: Andersonvr from Pixabay)
US-based bio-science firm OrthoPediatrics has signed an agreement to buy Pega Medical and its Fassier-Duval Telescopic Intramedullary System in a deal valued at up to $33m.
The system, designed for patients suffering from Osteogenesis Imperfecta and other bone deformities, will expand OrthoPediatrics’ array of trauma and deformity systems for paediatric orthopaedics.
Under the deal, OrthoPediatrics will pay an upfront cash payment of $31m and $2m in stock to Pega Medical.
OrthoPediatrics expanded its line of credit with Squadron Capital from $25m to $50m before the transaction.
The company plans to finance the transaction using $31m from the newly expanded credit facility.
OrthoPediatrics chief executive officer David Bailey said: “We are excited to announce the agreement to acquire Pega Medical.
“Similar to OrthoPediatrics, the Pega organisation has been focused exclusively on addressing unmet needs for children whose lives have been impacted by musculoskeletal disorders and diseases.
“Their product offerings include novel technologies to treat some of the most unique conditions in paediatric orthopaedics.”
Bailey added: “We are grateful for the leadership and vision of the Pega team, and founder Ariel Dujovne in particular.
“I am looking forward to building on his legacy and our shared cause of helping even more KIDS with orthopaedic conditions!”
OrthoPediatrics is an orthopaedic company focused exclusively on advancing the field of paediatric orthopaedics.
The company currently markets 37 surgical systems that serve three of the largest categories within the paediatric orthopaedic market.
The product offering spans trauma and deformity, scoliosis, and sports medicine/other procedures.
In May last year, the firm introduced its RESPONSE Neuromuscular Scoliosis System.