OrthoPediatrics has cemented the acquisition of Pega Medical, a device company that has developed six implants and one instrument to assist surgeons treating musculoskeletal disorders and diseases.
1. The transaction comprises an upfront cash payment of $31 million and $2 million in stock, which includes certain restrictions for three years, according to a July 5 news release.
2. Pega Medical's portfolio includes the Fassier-Duval Telescopic Intramedullary System, designed for patients with bone deformities, and the Hinge Pediatric Plating System, a plate and screw platform used to correct knee deformities in growing children, according to the company.
3. After accounting for the acquisition, OrthoPediatrics increased its full-year 2022 guidance range to between $125 million and $128 million, representing growth of 27 percent to 31 percent, the release said.