OrthoPediatrics (KIDS) sold assets related to the adult orthopedic products of Vilex in Tennessee to Vilex LLC, an affiliate of Squadron Capital. Vilex was granted a license to manufacture and sell products using external fixation technology developed by Orthex, a KIDS affiliate, with certain restrictions.
OrthoPediatrics had reported its plan to divest the Vilex Adult Business when it acquired Vilex in Tennessee and Orthex in 2019.
Mark Throdahl, President and Chief Executive Officer of OrthoPediatrics, commented, “We were encouraged with the high level of interest we received for the Vilex Adult Business during a competitive bidding process last fall. Squadron’s highest bid, together with their help financing the acquisition last June, demonstrates Squadron’s continuous support that has contributed to our on-going success. This divestiture also demonstrates our ability to execute on our strategic objective of positioning OrthoPediatrics for sustainable future growth and maintaining our leading position in pediatric orthopedics.”
David Pelizzon, President of Squadron Capital, added, “Vilex’s adult assets and extensive research and development pipeline provide a noteworthy investment opportunity for us. We are excited to be able to offer their compelling technology and strategically focus on developing a commercial strategy to grow the adult business. We appreciate OrthoPediatrics’ dedication to pediatrics and look forward to increasing adoption of the technology for adult patients.”