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BSN medical acquires FLA Orthopedics, Inc., a leading U.S. manufacturer of orthopaedics soft goods (OSG) and bracing products
For more information please contact:
Nico HellingDirector
T: +49 211 867 693 0
E: nico.helling@ montagu.com
More information about Nico Helling
Germany’s BSN medical, based in Hamburg, today announced the
acquisition of FLA Orthopedics, Inc. through its wholly owned
subsidiary BSN medical, Inc. from international private equity
house The Riverside Company for an undisclosed sum. FLA Orthopedics
is a leading U.S. manufacturer and distributor of orthopaedics soft
goods (OSG) and bracing products.
For BSN medical, the acquisition of FLA Orthopedics signifies an expansion of its product range in the strategic growth segment of OSG and bracing products in the U.S., the world's largest market for such products by far. FLA Orthopedics, based in Miramar, Florida, offers an extensive product portfolio in the area of OSG and bracing products including the fast-growing segment of spinal bracing. The portfolio also encompasses adjacent product categories such as compression hosiery and diabetic footwear. The company employs approximately 250 people in production and distribution and has two additional locations in Huntersville, NC, and Eatontown, NJ. FLA Orthopedics expects sales in excess of US $40 million in 2007.
The acquisition of FLA Orthopedics is the third for BSN since the completion of its own management buyout in February 2006. With the support of Montagu Private Equity, the management of BSN medical has used acquisitions to significantly accelerate growth. In July 2006, BSN medical acquired M-PACT, a U.S. manufacturer of fracture management products and in December 2006, it acquired Cognon-Morin, a leading French compression hosiery manufacturer.
“With FLA Orthopedics, we are particularly pleased to have acquired a company whose product range ideally complements that of BSN medical in the U.S. and at the same time offers room for synergies from which both parties and our customers can benefit,” said Graham Siddle, CEO of BSN medical. “The FLA acquisition is fully in line with our strategy to grow BSN both organically and by way of acquisition and to expand in fast-growing markets. The U.S. is the prime market in the OSG and bracing sector globally and therefore plays a crucial part in our business development strategy.”
For BSN medical, the acquisition of FLA Orthopedics signifies an expansion of its product range in the strategic growth segment of OSG and bracing products in the U.S., the world's largest market for such products by far. FLA Orthopedics, based in Miramar, Florida, offers an extensive product portfolio in the area of OSG and bracing products including the fast-growing segment of spinal bracing. The portfolio also encompasses adjacent product categories such as compression hosiery and diabetic footwear. The company employs approximately 250 people in production and distribution and has two additional locations in Huntersville, NC, and Eatontown, NJ. FLA Orthopedics expects sales in excess of US $40 million in 2007.
The acquisition of FLA Orthopedics is the third for BSN since the completion of its own management buyout in February 2006. With the support of Montagu Private Equity, the management of BSN medical has used acquisitions to significantly accelerate growth. In July 2006, BSN medical acquired M-PACT, a U.S. manufacturer of fracture management products and in December 2006, it acquired Cognon-Morin, a leading French compression hosiery manufacturer.
“With FLA Orthopedics, we are particularly pleased to have acquired a company whose product range ideally complements that of BSN medical in the U.S. and at the same time offers room for synergies from which both parties and our customers can benefit,” said Graham Siddle, CEO of BSN medical. “The FLA acquisition is fully in line with our strategy to grow BSN both organically and by way of acquisition and to expand in fast-growing markets. The U.S. is the prime market in the OSG and bracing sector globally and therefore plays a crucial part in our business development strategy.”