ORTHOPEDIATRICS SELLS VILEX ADULT DEVICE BUSINESS (Orthopedics This Week)
OrthoPediatrics Corp. recently announced its sale of the adult product line, Vilex, to Squadron Capital LLC for $25 million.
OrthoPediatrics acquired Vilex in Tennessee, Inc. and Orthex, LLC, together known as Vilex, this past June. OrthoPediatrics paid $60 million, consisting of $50 million in cash and $10 million in stock. The transaction was partially financed by $30 million of new debt provided by Squadron Capital. See OTW’s coverage of the acquisition of Vilex in “OrthoPediatrics Acquires Vilex.”
With the sale of Vilex, OrthoPediatrics, a pediatric orthopedics company, sold substantially all of its assets related to the adult product offerings of Vilex in Tennessee, Inc. to Vilex LLC, a wholly owned subsidiary of Squadron Capital LLC. The sale included a license to manufacture and sell products utilizing the external fixation technology developed by an OrthoPediatrics affiliate.
As consideration for the sale, the amount owed by OrthoPediatrics to Squadron Capital was reduced by $25 million. The remaining $5 million of principal plus all accrued interest was repaid by OrthoPediatrics in full.
Or...
