OrthoPediatrics Corp. Acquires MD Orthopaedics
BCC Advisers is pleased to share the following announcement regarding the sale of our client, MD Orthopaedics (MDO), to OrthoPediatrics Corp. (Nasdaq: KIDS). BCC served as MDO’s investment banker and advised in negotiations throughout all aspects of the sale process.
OrthoPediatrics Corp., a company focused exclusively on advancing the field of pediatric orthopedics, has acquired MDO, including its bracing product lines and the patented Mitchell Ponseti® Ankle-Foot Orthosis (AFO) system for the treatment of clubfoot. This expands the product portfolio of OrthoPediatrics to include a patented, non-operative solution for the treatment of clubfoot.
Founded in 2004 in Wayland, Iowa, MDO is a profitable, privately held orthopedic device company that has developed and commercialized a custom fit bracing system that has supported the dissemination of the Ponseti Technique - the gold standard treatment for clubfoot. MDO will serve as a specialty bracing platform company within OrthoPediatrics’ Trauma & Deformity business. While this unique non-operative solution will maintain its focus on the treatment of clubfoot, OrthoPediatrics plans to leverage the MDO organization to develop several new innovative products that address the large unmet needs for specialty bracing within the pediatric orthopedic market. With an estimated 80% of pediatric orthopedic care involving non-surgical treatment, MDO expands OrthoPediatrics’ Total Addressable Market by an estimated $600 million. Since inception in 2004, MDO has helped an estimated 300,000 children across the globe.
David Bailey, Chief Executive Officer of OrthoPediatrics, commented, “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. 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.”
MDO strives to continually innovate, offering the best possible products for the teaching, training, and implementation of the Ponseti Method of clubfoot treatment and to provide exceptional customer service before and after the sale. “We are excited to join OrthoPediatrics,” stated Luke Mitchell, MDO General Manager & Executive Vice President. “With a mission aligned with our own, we look forward to working together in creating additional solutions to improve the treatment of orthopedic conditions in children, while improving the quality of life for them and their families.”
About MD Orthopaedics
John Mitchell, a designer of medical instruments and models, established MD Orthopaedics for the purpose of providing an effective, patient-friendly device to assist in the treatment of clubfoot. This device (Ponseti ® AFO) is a significant component of the “Ponseti Method,” a technique developed by Dr. Ignacio Ponseti, one of the most renowned and respected orthopedic surgeons worldwide, which has become the most popular and effective alternative to orthopedic surgery. MDO operates and sells specialty bracing systems in 90 countries. Its unique technology is supported by intellectual property protection, including 14 issued patents and seven patents pending. For more information, please visit www.mdorthopaedics.com.
About OrthoPediatrics Corp.
Founded in 2006, OrthoPediatrics is an orthopedic company focused exclusively on advancing the field of pediatric orthopedics. As such it has developed the most comprehensive product offering to the pediatric orthopedic market to improve the lives of children with orthopedic conditions. OrthoPediatrics currently markets 37 surgical systems that serve three of the largest categories within the pediatric orthopedic market. 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. For more information, please visit www.orthopediatrics.com.