M&A Deal Summary

Össur Acquires Royce Medical

On August 12, 2005, Össur acquired medical products company Royce Medical from Cortec Group for 216M USD

Acquisition Highlights
  • This is Össur’s 2nd transaction in the Medical Products sector.
  • This is Össur’s largest (disclosed) transaction.
  • This is Össur’s 1st transaction in the United States.
  • This is Össur’s 1st transaction in California.

M&A Deal Summary

Date 2005-08-12
Target Royce Medical
Sector Medical Products
Buyer(s) Össur
Sellers(s) Cortec Group
Deal Type Add-on Acquisition
Deal Value 216M USD

Target

Royce Medical

Camarillo, California, United States
Royce Medical Company is a leading designer, manufacturer, and marketer of orthopedic products. Royce's products include braces and supports, synthetic casting and splinting, bone growth stimulation, diabetic-focused wound care and disposable medical products sold primarily to orthopedists, hospitals, podiatrists, and orthotic and prosthetic shops.

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Buyer(S) 1

Buyer

Össur

Reykjavik, Iceland

Category Company
Founded 1971
Sector Medical Products
Employees3,500
Revenue 483M DKK (2015)
DESCRIPTION

Ossur (Icelandic Stock Exchange: OSSR) is a trusted and global leader in the development, manufacturing, distribution, sales and marketing of high technology orthotic and prosthetic devices. With its head office in Reykjavik, Iceland, the company's U.S. sales and marketing headquarters are located in Aliso Viejo, California; the Canadian office is in Vancouver, BC; the Nordic office is in Uppsala, Sweden; and the European office is in Eindhoven, Holland.


DEAL STATS #
Overall 2 of 9
Sector (Medical Products) 2 of 8
Type (Add-on Acquisition) 2 of 9
State (California) 1 of 2
Country (United States) 1 of 4
Year (2005) 1 of 2
Size (of disclosed) 1 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-09-26 Generation II Orthotics

Richmond, British Columbia, Canada

Generation II Orthotics, Inc. is a manufacturer and marketer of diverse product line of customized and off-the-shelf braces and specializes in braces for ligament injuries, osteoarthritis, and post operative conditions. Generation II has 168 employees with operations in Vancouver, Canada; Seattle, Washington in the US; and Brussels in Belgium, and sell its products principally in North America and Western Europe.

Buy $31M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-12-01 Innovative Medical Products Holdings

Manchester, United Kingdom

Innovative Medical Products Holdings Ltd. specialises in the design, sale and manufacture of knee, hip and spinal braces. IMP brand names include Medistox and Technology in Motion.

Buy $19M

Seller(S) 1

SELLER

Cortec Group

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 6.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Cortec Group is a private equity firm focused on acquiring mid-sized businesses operating in basic industries. Cortec Group is an experienced and knowledgeable investor in healthcare products and services, B2C and B2B products, value-added distribution (including eCommerce), and specialty services companies with equity of $100-$500 million and EBITDA of $10 to $50 million. Cortec Group was formed in 1984 and is based in New York City.


DEAL STATS #
Overall 10 of 35
Sector (Medical Products) 2 of 6
Type (Add-on Acquisition) 4 of 9
State (California) 2 of 2
Country (United States) 10 of 34
Year (2005) 2 of 3
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-04-06 Switchcraft

Chicago, Illinois, United States

Switchcraft, Inc. is a designer and manufacturer of high-performance electronic connectors, cable assemblies, and other value-added products and systems used in diverse applications in the global electronics industry.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-11-01 Neurotherm

Wilmington, Massachusetts, United States

NeuroTherm, is a developer, manufacturer and provider of medical products used in interventional pain management. NeuroTherm’s products include radiofrequency (“RF”) generators and related consumable products as well as epidural catheters, discography devices, intradiscal therapies, pharmaceutical compounding and procedure tables.

Buy -