DePuy Synthes Acquires OrthoSpin

By Julie A. Vetalice

DePuy Synthes Acquires OrthoSpin

Trendlines announced the acquisition of its 26.9%-owned portfolio company, OrthoSpin, by Synthes GMBH (part of DePuy Synthes, the orthopedics company of Johnson & Johnson) for US $79.5 million in cash. The total net proceeds for Trendlines will be $15.8 million after expenses, representing a 165% internal rate of return on Trendlines' total cash investment in OrthoSpin of $1.3 million.

OrthoSpin's automated, digitally-enabled AutoStrut G2 System offers a new solution to the external circular fixation market used in bone lengthening, setting complex fractures and correcting limb deformities. With this technology, circular frame strut adjustments are automated and can be broken down into smaller, more frequent intervals, eliminating the need for patients to perform complex manual strut adjustments.

OrthoSpin received FDA 510(k) clearance for its latest device in early 2021 and has completed initial clinical cases in the U.S. and Israel. Johnson & Johnson Innovation led two investment rounds. Trendlines was OrthoSpin's founding investor and participated in additional financings for the company. OrthoSpin also received support from the Israel Innovation Authority.

Source: The Trendlines Group

Product Labels: Robot-Assisted Systems, External Fixation

Tags: M&A