Vilex, LLC, a member of the Squadron Capital family of businesses, announced Thursday that it has successfully completed the acquisition of DT MedTech, LLC, whose product lines include the Hintermann Series System™ Total Ankle Replacement (TAR), developed by prominent surgeon, Professor Beat Hintermann. DT MedTech, LLC will become a wholly owned subsidiary of Vilex and will continue to manufacture all of its products under the DT MedTech Quality System and market its products outside the US through its existing distribution network. “DT MedTech’s Hintermann Series System and unrivaled long-term success in the global marketplace provide a noteworthy investment opportunity for us,” said Squadron Capital President David Pelizzon.
Conventus Orthopaedics, Inc. today announced it has completed the acquisition of Flower Orthopedics, the market leader in Ready-for-Surgery™ single use, sterile-packaged, implant and instrument kits. The state-of-the-art sterile FlowerCube™ system eliminates expensive set processing, which enables surgical facilities to complete back-to-back cases, enhance efficiencies, and maximize resources. In addition to a robust fixation portfolio, Flower’s continuum of care also extends into the fast-growing wound care market for both orthopedic & podiatric surgeons.
Conventus Orthopaedics, Inc. announced that it signed a definitive agreement to acquire Flower Orthopedics. The acquisition will close following completion of all closing conditions. Terms were not disclosed. Flower Orthopedics, is a market leader in sterile-packaged anatomic foot & ankle implants, allografts and diabetic wound care solutions for orthopedic surgeons and podiatrists. Conventus was first recognized for its platform proprietary nitinol CAGEª technology to treat proximal humerus and distal radius fractures with unmatched stability and reduced complications compared to plating. Lower extremity CAGEª implants are in development. The Flower Ortho acquisition follows Conventus’ recent acquisition of an innovative intramedullary distal fibula system from Surgical Frontiers.
Remington Products Company (“Remington Products” or the “Company”) is pleased to announce it has recently acquired the Foot Petals brand from RG Barry Corporation. Foot Petals is a leading, designer brand of foot cushions and inserts including ball-of-foot, back of heel and arch cushions. Headquartered in Wadsworth, OH, Remington Products manufactures the leading physician-recommended and customer rated orthotic solutions in North America with a complete selection of innovative and high-quality products. The Company works with podiatrists, chiropractors, physical therapists and other clinicians to bring health and wellness products to their clients.
Foot Solutions, Inc., a leading franchisor of custom orthotics and footwear retail locations, announced Tuesday the acquisition of the business by a group of private investors. John Prothro, an experienced executive and one of the anchor investors, has been appointed CEO and will be leading the company day-to-day. The previous owner and CEO, Ray Margiano, will become a special advisor to the company leadership. “John Prothro and his team will be an exciting and positive transition for the company at a perfect time,” said Mr. Margiano. Mr. Prothro was equally optimistic: “Foot Solutions is a 20-year old global brand built on service and offering the best quality orthotics, expertly customized. Our franchisees are highly trained specialists in foot health and stability, and our system improves the quality of our customers’ lives by solving pain and joint issues.”
Ottobock, the leading manufacturer and supplier of microprocessor prosthetic knees in the United States, must divest its acquisition of competitor Freedom Innovations, FTC Chief Administrative Law Judge D. Michael Chappell ruled in a decision released Tuesday. The ruling upholds the commission’s administrative complaint challenging the 2017 merger as anticompetitive. FTC found the innovation was necessary because Ottobock had essentially acquired its closest competitor in the MPK market, effectively eliminating head-to-head competition in the market. “Challenges to consummated mergers are not that common because the agencies prefer to – and usually can – challenge mergers before they close,” former FTC official Alexis Gilman, now an antitrust attorney with Crowell & Moring in Washington, told MedTech Dive. “It’s not the agencies’ preferred enforcement path,” he said. “They much prefer to challenge mergers before they close because it can be more difficult to unwind a merger post-closing, especially if there been significant integration.” But, he said “consummated-merger challenges do happen, and we have seen several of them in the past few years.”
Gridiron Capital, LLC (“Gridiron Capital”) is pleased to announce an investment in Remington Products Company (“Remington Products” or the “Company”). Remington Products is a leading specialty designer and manufacturer of branded and private label orthotic solutions, including foot beds/insoles, foot care products, orthopedic braces, sports supports and safety/ergonomic products. Headquartered in Wadsworth, OH, Remington Products manufactures the leading clinically recommended and customer rated orthotic solutions in North America with a complete selection of innovative and high-quality products. The Company works with podiatrists, chiropractors, physical therapists and other clinicians to bring orthopedic wellness products to their clients.
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