OrthoPediatrics Acquires Boston Orthotics & Prosthetics

OrthoPediatrics has acquired Boston Orthotics & Prosthetics, a company that has focused on pediatric orthotic management for more than 50 years.
 
The company also revealed closing of debt financing with MidCap Financial, providing up to $80 million of capital through a term loan and revolving loan.
 
Boston Orthotics & Prosthetics offers bracing, orthotic, and prosthetic tech for non-operative treatment of children with scoliosis, plagiocephaly, and various neuromuscular disorders. Its patient-specific Boston Brace for Scoliosis, lower limb orthoses, and Dynamic Movement Orthoses (DMO), as well as Boston Band for plagiocephaly are advanced, individualized braces, according to the company.
 
The company’s products expand OrthoPediatrics’ Specialty Bracing division, a flagship house of brands and products that was created in December.
 
“We are thrilled to announce the acquisition of Boston O&P, an organization that shares our mission to help children whose lives have been impacted by orthopedic conditions,” said Dave Bailey, CEO of OrthoPediatrics. “We are now the first company to have a role supporting the entire continuum of care for pediatric orthopedic patients. This opportunity significantly expands our newly launched OrthoPediatrics Specialty Bracing division and is reflective of the opportunity we saw with pediatric surgical implants at the company’s founding. The large majority of pediatric orthopedic patients are not surgical candidates, and specialty bracing remains an underserved market. Boston O&P offers unique products designed specifically to address unmet pediatric needs in several of the largest non-surgical orthopedic treatment markets. Adding their complementary portfolio to our platform will offer additional options to our current surgeon customers to help manage patients before and after surgery.”
 
Last week, the company announced it formed a strategic partnership with Children’s National Hospital in Washington, D.C., under the Alliance for Pediatric Device Innovation (APDI), to advise the development and commercialization of pediatric medical devices.