OrthoPediatrics Corp. (“OrthoPediatrics” or the “Company”) (Nasdaq: KIDS), a company focused exclusively on advancing the field of pediatric orthopedics, announced the acquisition of MD Orthopaedics, including its bracing product lines and the patented Mitchell Ponseti® Ankle-Foot Orthosis (AFO) system for the treatment of clubfoot. OrthoPediatrics will acquire MD Orthopaedics in a transaction valued up to $19.6 million. Under the terms of the agreement, OrthoPediatrics will acquire MD Orthopaedics 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 which vest after three years.
Founded in 2004 in Wayland, Iowa, MD Orthopaedics is a profitable, privately held orthopedic device company that has developed and commercialized a custom fit bracing system that has supported the dissemination of the Ponseti Technique - the gold standard treatment for clubfoot. MD Orthopaedics will serve as a specialty bracing platform company within OrthoPediatrics Trauma & Deformity business. While this unique non-operative solution will maintain its focus on the treatment of clubfoot, OrthoPediatrics plans to leverag...
