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Tornier to Expand Extremities Franchise through Acquisition of Nexa Orthopedics BY EDITOR, FEBRUARY 12, 2007
Eden Prairie, MN - February 12, 2007 - Tornier announced today that it has signed a definitive agreement to acquire Nexa Orthopedics, a privately held, California based company that develops, manufactures, and markets medical devices for orthopedic and podiatric surgeons. The acquisition of Nexa represents a significant expansion of Tornier's product portfolio for surgeons performing procedures on the extremities (shoulder, arm, hand, foot and ankle). Nexa also will expand Tornier's technology base with new implantable device materials and coatings.
Under the terms of the agreement, Tornier will acquire 100% of the fully diluted equity of Nexa. Tornier's agreement with Nexa is subject to governmental regulatory review and other customary closing conditions. Until receipt of regulatory approval, the acquisition will not be able to close, although Tornier presently anticipates that closing may occur in the first quarter of 2007. Further terms of the acquisition are not available.
Doug Kohrs, President and CEO of Tornier, commented, "We are very excited about the prospect of the Nexa team and its products joining Tornier. This acquisition reinforces our commitment to bring innovative products and technology to the dynamic and underserved extremities market place."
Paul Nichols, President and CEO of Nexa, commented, "Tornier's strong global franchise in total joint arthroplasty and most recently, ankle arthroplasty in the United States, is an ideal platform from which to maximize the potential of the proprietary technology and products developed by Nexa in recent years."
For more information regarding Tornier and its novel U.S. product line, visit our website at www.tornier-us.com or contact: Kirsten Harrison, Tornier, Eden Prairie, MN, +1-952-426-7600. For more information about Nexa Orthopedics, visit www.nexaortho.com.