Orthofix to Acquire UK Distributor

By HospiMedica staff writers
Posted on 18 Mar 2003

An agreement to purchase the remaining 48% minority interest in its UK distributor for about US$20 million in cash has been announced by Orthofix International N.V.

The distributor is Intavent Orthofix Limited (IOL, Maidenhead, UK). Previously, Orthofix held a 52% interest in the distributor. In 2002, IOL had sales of $20.3 million.

"This is a continuation of our strategy to gain 100% control of Orthofix operations in major markets around the world,” commented Charlie Federico, group president and CEO of Orthofix International. "This control allows us to implement our strategy of worldwide marketing while selling locally more effectively. Along with fortifying our already strong balance sheet and excellent market share, an added bonus of the acquisition of IOL is the outstanding management team already in place, which has been successful at competing for market share.”

Related Links:
Orthofix International
IOL