A Granby investment firm says it’s acquired the adult-patient related product lines from a medical-device company based in Indiana.
OrthoPediatrics Corp., of Warsaw, Ind., spent $60 million last summer to acquire some of the assets of foot and ankle surgery company Vilex, and immediately said it would divest part of the business. Vilex makes implants for foot and ankle surgeries.Â
Granby’s Squadron Capital, which owns about a third of OrthoPediatrics’ shares, said it acquired the adult part of the Vilex business and will operate the company as Vilex LLC.
Under the deal, the amount owed by OrthoPediatrics to Squadron for the takeover of Vilex was reduced by $25 million. It repaid the remaining $5 million when the deal was completed Dec. 31.
The Granby firm was also granted a license to produce and sell products and to use certain technologies developed by Orthex LLC, an affiliate of OrthoPediatrics. That condition, however, is subject to certain restrictions, the companies said.
OrthoPediatrics also maintained the right to use and sell certain intellectual property that Squadron acquired as part of divestiture.
Squadron Capital President David Pelizzon said in a statement that acquiring Vilex’s adult assets and research and development pipeline will allow his firm to develop a commercial strategy to grow the business.
