OrthoPediatrics Corp. Announces Acquisition Of Boston Orthotics & Prosthetics For An Upfront Cash Payment Of $22M; Closes $80M Debt Financing To Support Acquisition And Future Business Requirements
Portfolio Pulse from Benzinga Newsdesk
OrthoPediatrics Corp. (NASDAQ:KIDS) has acquired Boston Orthotics & Prosthetics for $22M in cash. The acquisition expands OrthoPediatrics' Specialty Bracing division and its presence in the pediatric orthopedic specialty bracing market. To finance the acquisition and future business needs, OrthoPediatrics closed an $80M debt financing deal with MidCap Financial, replacing a prior $50M credit line. Boston O&P, with a history of profitability and approximately $25M in annual revenue, brings a portfolio of advanced bracing technologies and maintains 26 clinics across the U.S. The acquisition aims to support the continuum of care for pediatric orthopedic patients and address unmet needs in non-surgical orthopedic treatment markets.
January 08, 2024 | 1:20 pm
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OrthoPediatrics Corp. has acquired Boston Orthotics & Prosthetics, expanding its product line and market reach in the pediatric orthopedic sector. The company also secured $80M in debt financing to support the acquisition and future growth.
The acquisition of Boston O&P is likely to be viewed positively as it expands OrthoPediatrics' product offerings and market presence, which could lead to increased revenue streams. The successful closure of $80M in debt financing demonstrates financial confidence and provides capital for future growth, potentially boosting investor sentiment in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100