DJO, a subsidiary of Colfax Corporation, announced the completion of its acquisition of MedShape, a privately-held orthopedic company focused on the foot and ankle market. Terms for the transaction were not disclosed.
MedShape's portfolio addresses fracture fixation, joint fusion and soft injury repair with biomaterial technologies to improve patient outcomes. The company's patented superelastic nickel titanium (NiTiNOL) shape memory alloy responds to changes at the surgical site to maintain compression and bony apposition throughout healing.
The move is another step in DJO's strategic entry into the estimated $1 billion foot and ankle market that spurred the company's 2020 acquisitions of Stryker's STAR® product line and Trilliant Surgical®. The foot and ankle market tends to be fragmented, with a wide array of companies in the $20 million to $30 million revenue range, making them attractive acquisition targets for larger players. DJO leadership expects the business line to generate over $100 million in annual revenue within a few years.