OrthoPediatrics enhanced its spinal deformity portfolio with the acquisition of ApiFix on April 1.
ApiFix's Minimally Invasive Deformity Correction System for non-fusion treatment of adolescent idiopathic scoliosis will become OrthoPediatrics' 35th surgical system after closing.
The MID-C removable device features motion-preserving capabilities to avoid permanently limiting the range of motion in scoliosis patients.
ApiFix's entire team, including CEO Paul Mraz, has joined OrthoPediatrics.
Terms of the deal included 934,768 shares of OrthoPediatrics common stock and $2 million in cash paid at closing, as well as milestone payments and an earnout over a four-year period.