Orthofix Acquires Blackstone for $333 Million

Orthofix International (Curaçao, Netherlands Antilles), a global diversified orthopedic products company, has agreed to buy Blackstone Medical (Springfield, MA, USA), a company dedicated to advancing techniques and technologies for the treatment of the human spine, for U.S.$333 million.

Blackstone distributes the Trinity multipotential cellular bone matrix, manufactured by Osiris Therapeutics (Baltimore, MD, USA), the only commercially produced adult stem cell biologic product for bone growth in the spine. Blackstone has launched 14 new products in the last two years, including the Icon modular spinal fixation system, an advanced modular pedicle screw that offers greater latitude for surgeons performing minimally invasive surgery. Another product, the new Advent artificial cervical disc, which closely mimics the natural range of human motion, is slated for European Union (EU) release in the first quarter of 2007.

"This acquisition is a transformational event for Orthofix and a major step in our strategy, as it establishes a solid platform for accelerated sales and earnings expansion in the fastest-growing segment of the orthopedics industry,” said Orthofix CEO, Alan Milinazzo. "Our robust distribution channels give us the opportunity to significantly expand the availability of Blackstone's unique product portfolio around the world.”

The acquisition allows Orthofix to leverage Blackstone's engineering and market strength in the fusion, motion preservation, and biologic categories.



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