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Update, July 6, 2022: The transaction has closed.
OrthoPediatrics (KIDS) entered an agreement to acquire Pega Medical, including its Fassier-Duval Telescopic Intramedullary System™ designed for patients with Osteogenesis Imperfecta and other bone deformities.
The transaction is valued at up to $33 million, with an upfront cash payment of $31 million plus $2 million in stock, which includes certain restrictions for three years.
KIDS is increasing its full-year 2022 revenue guidance range to $125 million to $128 million, representing growth of +27% to +31% vs. 2021. On an organic basis, which excludes Pega Medical and MD Orthopaedics (the latter acquired earlier this year), KIDS is reiterating its full year 2022 revenue guidance range of $118 million to $121 million, representing growth of +20% to +23%.
Founded in 1994 as a bioengineering services company and based near Montreal, Canada, Pega has evolved to focus on the trauma and deformity patient population, including the Fassier-Duval Telescopic IM System, a self-extending rod implant launched in 2000 and designed to treat bony deformities in children with osteogenesis imperfecta without disrupting their normal growth. Other products include pediatric plate, screw and nail systems. Pega markets their products in over 75 countries.
David Bailey, Chief Executive Officer of OrthoPediatrics, said, “Similar to OrthoPediatrics, the Pega organization has been focused exclusively on addressing unmet needs for children whose lives have been impacted by musculoskeletal disorders and diseases. Their product offerings include novel technologies to treat some of the most unique conditions in pediatric orthopedics. We are grateful for the leadership and vision of the Pega team, and founder Ariel Dujovne in particular.”
Source: OrthoPediatrics Corp.
Update, July 6, 2022: The transaction has closed.
OrthoPediatrics (KIDS) entered an agreement to acquire Pega Medical, including its Fassier-Duval Telescopic Intramedullary System™ designed for patients with Osteogenesis Imperfecta and other bone deformities.
The transaction is valued at up to $33 million, with an upfront cash payment of...
Update, July 6, 2022: The transaction has closed.
OrthoPediatrics (KIDS) entered an agreement to acquire Pega Medical, including its Fassier-Duval Telescopic Intramedullary System™ designed for patients with Osteogenesis Imperfecta and other bone deformities.
The transaction is valued at up to $33 million, with an upfront cash payment of $31 million plus $2 million in stock, which includes certain restrictions for three years.
KIDS is increasing its full-year 2022 revenue guidance range to $125 million to $128 million, representing growth of +27% to +31% vs. 2021. On an organic basis, which excludes Pega Medical and MD Orthopaedics (the latter acquired earlier this year), KIDS is reiterating its full year 2022 revenue guidance range of $118 million to $121 million, representing growth of +20% to +23%.
Founded in 1994 as a bioengineering services company and based near Montreal, Canada, Pega has evolved to focus on the trauma and deformity patient population, including the Fassier-Duval Telescopic IM System, a self-extending rod implant launched in 2000 and designed to treat bony deformities in children with osteogenesis imperfecta without disrupting their normal growth. Other products include pediatric plate, screw and nail systems. Pega markets their products in over 75 countries.
David Bailey, Chief Executive Officer of OrthoPediatrics, said, “Similar to OrthoPediatrics, the Pega organization has been focused exclusively on addressing unmet needs for children whose lives have been impacted by musculoskeletal disorders and diseases. Their product offerings include novel technologies to treat some of the most unique conditions in pediatric orthopedics. We are grateful for the leadership and vision of the Pega team, and founder Ariel Dujovne in particular.”
Source: OrthoPediatrics Corp.
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JV
Julie Vetalice is ORTHOWORLD's Editorial Assistant. She has covered the orthopedic industry for over 20 years, having joined the company in 1999.
