Tornier acquires OrthoHelix Foot/Ankle trauma business for $135M (4.6 X annual sales)
Tornier to buy orthopedics device firm for $135M (Minn / St Paul Business Journal
Medical-device maker Tornier has reached a deal to buy OrthoHelix Surgical Designs Inc. in a deal worth $135 million.
Medina, Ohio-based OrthoHelix makes plate and screw systems that physicians use to treat deformities and fractures in feet and ankles. The company is expected to generate about $29 million in revenue this year, up 30 percent compared to 2011, Tornier said in a press statement.
Tornier, which makes medical devices for treating orthopedic problems, will pay $100 million in cash for OrthoHelix plus $35 million in stock.
“The transaction will enable us to substantially expand our sales coverage of foot and ankle surgeons, significantly enhance our addressable lower extremity market opportunity and position us to achieve more consistent growth across our upper and lower extremity product categories,” Tornier CEO and President Doug Kohrs said in press statement.
Tornier (Nasdaq: TRNX) is based in Amsterdam, but its U.S. headquarters are in Edina.