Water Street Healthcare Partners said it entered into a definitive agreement to acquire Orthofix International's sports medicine business for $157.5 million in cash.
Orthofix to sell sports medicine business
Orthofix International, a Lewisville, Texas-based medical-device company, acquired Breg, its sports medicine business, in 2003, according to a news release. Breg, which is based in Carlsbad, Calif., makes bracing and cold-therapy products.
“With the divestiture of the sports medicine business, we are now able to devote Orthofix's full resources and attention to strengthening our value proposition around our repair hardware and regenerative biologics and stimulation solutions,” said Orthofix President and CEO Robert Vaters in the news release.
Water Street Healthcare Partners is a Chicago-based private-equity firm. The deal is expected to close during OrthoFix's second quarter.
Send us a letter
Have an opinion about this story? Click here to submit a Letter to the Editor, and we may publish it in print.