OrthoPediatrics makes acquisition to bolster new bracing division
Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Now
Warsaw-based OrthoPediatrics Corp. has acquired a Massachusetts-based company it says will expand the company’s recently launched specialty bracing division. The deal for Boston Orthotics & Prosthetics is valued at $22 million.
Boston O&P, headquartered in Stoughton, Massaschusetts, makes a variety of bracing, orthotic and prosthetic products for the non-operative treatment of children with scoliosis, plagiocephaly, and various neuromuscular disorders.
OrthoPediatrics described some of the company’s lead products as “among the most advanced, individualized braces available to treat pediatric orthopedic conditions today.”
The Indiana company last month announced it had established a new specialty bracing division, and CEO Dave Bailey said the acquisition will provide an early boost.
“The large majority of pediatric orthopedic patients are not surgical candidates, and specialty bracing remains an underserved market,” Bailey said in a news release. “Boston O&P offers unique products designed specifically to address unmet pediatric needs in several of the largest non-surgical 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.”
Boston O&P maintains 26 patient care clinics across the county in partnership with multiple medical facilities, including Boston Children’s Hospital, Children’s Hospital of Philadelphia, and Nationwide Children’s Hospital in Columbus, Ohio.
The company’s historical annual revenue totals approximately $25 million. Boston O&P General Manager Tom Morrissey said the resources provided by OrthoPediatrics will help his company expedite its mission.
OrthoPediatrics did not specify if any jobs would be affected by the acquisition, which closed on Jan. 5.