Warsaw-based Wishbone Medical Inc. has completed the acquisitions of two medical device companies. Financial terms of the deals for Ohio-based Back 2 Basics Direct and Orbbö Surgical in California were not disclosed, however the company says the acquisitions will strengthen its position in the pediatric orthopedic market.
Dr. Robert Wertz, global vice president of spine and sports medicine at Wishbone, says the deals add nine FDA-cleared spinal infusion product lines to the company’s portfolio. He says the products have year-one revenue projections in excess of $12 million.
“Our entry into the pediatric spine segment marks yet another important milestone in our company’s history,” said Kevin Blue, chief revenue officer for Wishbone Medical. “We’re always looking to provide highly differentiated products that deliver clinical benefits with the potential to dramatically improve the lives of pediatric patients worldwide. These latest transactions will continue to position WishBone as the leading provider of sterile packed, anatomically appropriate procedure kits in the wake of the COVID-19 era.”
Wishbone Medical says it plans to add about 20 employees dedicated to the spine market segment as a result of the acquisitions.
Additionally, the company says its subsidiary, Red Star Medical Solutions, is in discussion with the Indiana Economic Development Corp. to expand two of its production facilities in Whitley and Marshall counties.