India hospital chain buys US orthopedic implant company for $11.45M

Spinal Tech

Shalby Advanced Technologies, a subsidiary of Mars Medical Devices that is part of the Ahmedabad-based Shalby hospital system, spent $11.45 million to buy California-based Consensus Orthopedics.

Shalby acquired primarily implant inventory, a manufacturing plant and equipment.

The manufacturing site develops thousands of components per year and includes cleaning, packaging and sterilization. More than 40 Consensus employees at the plant are joining Shalby in the transaction.

Shalby owns 15 percent of the total joint replacement private hospital market in India, and the transaction will give it access to implants at a competitive price, according to a statement from the company. Shalby also plans to boost implant sales in the U.S. and international markets.

Consensus founder and former CEO Daniel Hayes will join Shalby as CEO of Shalby Advanced Technologies. He has a 100-day plan for Shalby Advanced Technologies to re-engage with existing customers and develop a new sales pipeline. The company also plans to invest in new technologies and patented products.

Sushobhan Dasgupta, former vice president of orthopedics at DePuy Synthes at Johnson & Johnson Medical Asia Pacific, joined Shalby Limited as vice chairman and global president to manage the hospital business.

Shalby expects the transaction to be accretive in the 2023 fiscal year.

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