Deerfield Management-backed Conventus Orthopaedics has acquired US-based medical instrument manufacturer Flower Orthopedics.
Financial terms were not disclosed.
Andrew ElBardissi, a partner at Deerfield, said the deal will position Conventus as a leading developer of orthopaedic technologies.
Located in Pennsylvania, Flower makes a range of medical instrument equipment designed to reduce the number of surgical steps and create more efficient reproducible procedures for orthopaedic and podiatric physicians.
Its Ready-for-Surgery portfolio includes screws, implants and stabilisation plates for the ankles, feet and upper extremities, among other body parts.
Flower also provides wound care products, such as the FlowerAmnioPatch, an amniotic membrane which can be stored at room temperature to treat cuts and lesions.
The company’s Flowercube offering comes stocked with sterile, single-use and anatomic implants and instruments that help eliminate pre-operative and on-site sterilisation procedures.
Rick Epstein, chief executive of Conventus, said: “With ongoing concerns over viral and infection risks associated with heavy reusable orthopaedic implant trays, Flower’s Ready-for-Surgery platform reduces exposure to bioburden while enhancing OR [operating room] efficiencies.”
Following the deal, the buyer plans to pursue new and innovative orthopaedic technologies that are clinically relevant to surgeons, hospitals and ambulatory surgery centres.
Headquartered in Minnesota, Conventus focuses on manufacturing 3D fracture fixation instrumentation, which help treat patients with fractured wrists, elbows and shoulders without requiring them to undergo joint replacement procedures.
The buyer is currently developing the Cage implant system, alongside a new distal fibula intramedullary nailing device.
Both products are expected to accelerate time-to-weight bearing, while reducing complications during surgery.
According to Zephyr, the M&A database published by Bureau van Dijk, there have been 317 deals targeting surgical and medical instrument manufacturers announced globally in 2020 to date.
In the most valuable of these, Groupe Industriel Marcel Dassault picked up a 4.6 per cent stake in France-based bioMerieux for EUR 459.99 million.
© Zephus Ltd