OrthoPediatrics Corp. (“OrthoPediatrics” or the “Company”) (Nasdaq: KIDS), a company focused exclusively on advancing the field of pediatric orthopedics, announced today that it has completed the previously announced acquisition of Pega Medical for $33 million. Under the terms of the agreement, OrthoPediatrics will acquire Pega Medical for an upfront cash payment of $31 million-plus $2 million in stock – which includes certain restrictions for three years.
Pega Medical brings a highly complementary product portfolio, with a focus on addressing the unmet needs of children whose lives have been impacted by musculoskeletal disorders and diseases. Pega’s product offering includes novel technologies to treat some of the most unique conditions in pediatric orthopedics, including its Fassier-Duval Telescopic Intramedullary System™ designed for patients suffering from Osteogenesis Imperfecta and other bone deformities.
David Bailey, Chief Executive Officer of OrthoPediatrics, commented, “We are grateful for the leadership and vision of the Pega team, and founder Ariel Dujovne in particular. I am looking forward to building on his legacy and our shared cause of helping even more KIDS with orthopedic conditions!”
As previously disclosed, OrthoPediatrics increased its full-year 2022 revenue guidance range from $125 million to $128 million, representing a growth of 27% to 31%. On an organic basis, which excludes Pega Medical and MD Orthopaedics, OrthoPediatrics reiterated its full-year 2022 revenue guidance range of $118 million to $121 million, representing organic growth of 20% to 23%.
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Source: Biospace
