Devicemaker OrthoPediatrics acquired MD Orthopaedics for $19.6 million.
MD Orthopaedics was founded in 2004 and develops a custom bracing system for club foot, according to an April 4 news release. The acquisition will add to OrthoPediatrics' trauma and deformity business.
MD Orthopaedics has 14 issued patents, and seven are being processed. OrthoPediatrics will pay $8.2 million up front and $8.9 million in company stock. An additional $2.5 million in restricted stock will be paid after three years.