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Strategic Initiatives

OrthoPediatrics Acquires Vilex, ExFix Technology -

OrthoPediatrics (KIDS) acquired Vilex and Orthex (collectively, Vilex), including its Orthex Hexapod circular fixation technology and CORA-based x-ray planning software, for USD $60MM, comprising $50MM in cash and the remainder in stock. Vilex markets fixation products for foot and ankle indications, targeting pediatric patients as well as adults. The company generated 2018 revenue of $11.8MM, primarily within the U.S., with $2.9MM of net income. Of that, Orthex Hexapod contributed $3.1MM, increasing 50% year-over-year since its FDA clearance in 1Q16. The remainder of 2018 revenue derived from Vilex’s adult systems. Orthex Hexapod treats pediatric congenital deformities and limb length discrepancies such as fibula and tibia hemimelia, radial clubhand, ankle equinus, Blount’s disease, genu recurvatum and multiapical deformities. Remaining products treat pediatric conditions such a flatfoot reconstruction, subtalar arthroereisis and arthrodesis procedures of small bones. Hexapod offers easily calibrated struts and hydroxyapatite coated pins designed to reduce infection risk, and is accompanied by point and click software to simplify deformity correction planning. KIDS plans to identify a potential buyer for Vilex’s adult product line that is focused on the adult orthopedic space. The transaction could include an exclusive license of Orthex technology for adult foot/ankle applications. (OrthoPediatrics Corp., 6/5/19)