Orthofix to Acquire BREG for $150 Million

In a move designed to broaden the company's product line, Orthofix International, N.V. (Curacao, Netherlands Antilles) had agreed to acquire BREG, Inc. (Vista, CA, USA) for U.S.$150 million in cash and stock.

BREG's orthopedic experience is in spine, reconstruction and trauma, and the company is a leading supplier to office-based and postoperative market. For the 12-month period ended September 30, 2003, BREG generated $58.3 million in revenues. The combined company is expected to generate about $292 million in total revenues in 2004. Orthofix intends to complete the acquisition by the end of 2003.

"The proposed acquisition broadens our product lines, reducing our reliance on the success of any single product, and enlarges channel opportunities for Orthofix almost immediately. We now become a distribution leader in the office-based and postoperative markets, and will seek opportunities for cross-selling products as opposed to sales force integration and reductions,” said Charles W. Federico, group president and CEO of Orthofix.




Related Links:
Orthofix
BREG