An Acquisition of Wayland manufacturer creates expansion

WAYLAND — The Indiana-based Orthopedics company, OrthoPediatrics, announced that is acquiring the Wayland based MD Orthopaedics company.

MD Orthopaedics is a manufacturing company that develops and commercializes custom fit bracing systems that support the gold standard treatment for clubfoot known as the Ponseti Technique.

Wayland has been the home-base for MD Orthopaedics since 2004.

According to a news release from OrthoPediatrics, they “will acquire MD Orthopaedics in a transaction valued up to $19.6 million. Under the terms of the agreement, OrthoPediatrics will acquire MD Orthopaedics for an upfront cash payment of $8.2 million and $8.9 million in company stock, with an additional $2.5 million in restricted stock which vest after three years.”

“We believe MD Orthopaedics will be a springboard for our expansion into pediatric orthopedic non-surgical treatments for kids and further supports our mission of helping children living with orthopedic conditions,” Chief Executive Officer of OrthoPediatrics David Bailey said. The addition of non-operative specialty bracing systems advances our growth strategy of providing a broad product portfolio uniquely designed to treat children while surrounding pediatric orthopedic surgeons with the most comprehensive product offering in the market.”

According to their website, OrthoPediatrics was founded in 2006 and is an orthopedic company focused exclusively on pediatric orthopedics.

“OrthoPediatrics currently markets 37 surgical systems that serve three of the largest categories within the pediatric orthopedic market,” their site says. “This product offering spans trauma and deformity, scoliosis, and sports medicine/other procedures. OrthoPediatrics’ global sales organization is focused exclusively on pediatric orthopedics and distributes its products in the United States and 45 countries outside the United States.”

“This acquisition will expand the suite of orthopedic products available to our customers and will introduce MD Orthopaedics products to an even wider audience of orthopedic surgeons, orthotists, and physical therapists around the globe,” MD Orthopaedics says of the acquisition.

“Please know that it will be business as usual for the MD Orthopaedics team, and our line of Mitchell Ponseti and Ponseti brand products will remain separate from the OrthoPediatrics catalog,” MD Orthopaedics news release said. “Our focus will remain on supporting the global clubfoot community with best-in-class orthoses and continuing to build new sales channels within the EU, UK and ROW.”

Comments: AnnaMarie.Ward@southeastiowaunion.com