Tornier to purchase OrthoHelix Surgical Designs

26 August 2012 (Last Updated August 26th, 2012 18:30)

Tornier, a provider of surgical solutions, has entered into a definitive agreement to purchase all the assets of OrthoHelix Surgical Designs for $135m.

Tornier, a provider of surgical solutions, has entered into a definitive agreement to purchase all the assets of OrthoHelix Surgical Designs for $135m.

OrthoHelix is involved in developing specialty implantable screw and plate systems including MaxLock Extreme, featuring proprietary anatomic contouring, low profile, and multiplanar fixation, which are designed to repair small bone fractures and deformities in the foot and ankle.

Tornier president and chief executive officer Douglas W. Kohrs said the transaction will enable the company to expand its sales coverage of foot and ankle surgeons and enhance its addressable lower extremity market opportunity.

"We are pleased to welcome the employees, surgeon advisors, and distribution partners of OrthoHelix to Tornier," Kohrs added.

"OrthoHelix's innovative technology, products, and surgeon focused culture will help us take our Specialists Serving Specialists strategy to the next level."

Tornier said based on achieving certain revenue growth milestones, it will pay additional payments to OrthoHelix over two years.

In addition, Tornier plans to utilise its international distribution channel to accelerate OrthoHelix's geographic expansion beyond its current sales base in the US.

OrthoHelix president and CEO Dennis Stripe said, "We believe Tornier's resources will position us to drive significant organic growth in the lower extremity business through product innovation, access to novel arthroplasty and biologic products, and, over time, an international presence for OrthoHelix through Tornier's strong proven distribution network."