Private equity spiking in orthopedics: 8 key transactions in the past year


Consolidation continues to be a trend in orthopedics, with many leaders in the field expecting it to accelerate post-pandemic.

Orthopedics represents a particularly lucrative area for private equity firms. As America's elderly population continues to rise, the number of joint replacement procedures, especially expensive surgeries such as hips and knees, is expected to increase too.

Here are eight key private equity transactions involving orthopedic practices and device companies in the past year:

1. Montagu Private Equity acquired RTI Surgical's original equipment manufacturer business in a $480 million cash deal in July. 

2. In July, Sharonville, Ohio-based Beacon Orthopaedics & Sports Medicine acquired Reconstructive Orthopaedics & Sports Medicine in Cincinnati. OrthoAlliance, a management services organization Beacon owns with private equity firm Revelstoke Capital Partners, brokered the deal.

3. In June, MiddleGround Capital acquired Edge International, a distributor of cobalt-chrome, stainless and titanium products for spinal, orthopedic and trauma implants. 

4. Private equity firm Cobepa closed a growth equity investment in Laurel, Md.-based Precision Orthopedics in January.

5. In December, Aspen Surgical Products, owned by Audax Private Equity, acquired orthopedic product provider Beaty Marketing & Sales.

6. In November, Vail, Colo.-based The Steadman Clinic partnered with Orthopedic Care Partners, which is the holding company for five practices and is backed by Varsity Healthcare Partners.

7. CrossRoads Extremity Systems, backed by private equity firm HealthpointCapital, acquired four orthopedic implant product lines from Surgical Frontiers in November.

8. In August 2019, Linden Capital Partners acquired Collagen Matrix, which develops products for a variety of applications, including the device sectors of neurosurgery, orthopedics, spine and sports medicine.

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