Warsaw-based orthopedics company Nextremity Solutions Inc. has been acquired by Medartis Holding AG, a medical device manufacturer headquartered in Switzerland. The companies say the total purchase price for the transaction will be up to $70 million and includes milestone and earn-out payments of up to $30 million.
This acquisition will enable Medartis to further accelerate its growth in the U.S. market by gaining access to Nextremity’s product pipeline and experienced R&D team.
Medartis manufactures titanium devices for surgical repairs of bone fractures of the head and upper and lower extremities.
Nextremity commercializes innovative orthopedic devices that focus on lower and upper extremities, sports medicine and joint preservation.
Nextremity Chief Executive Officer Rod Mayer will remain with the company, serving as president of Medartis U.S.
“We intend to build on our shared vision and common culture to deliver meaningful innovation for our customers. I believe this is an impactful combination that will support an attractive growth trajectory in the future,” said Mayer.
The company says it intends to keep its U.S. operations in Warsaw and in Pennsylvania.
Nextremity moved into a new facility in Warsaw in July.