DJO Global is a provider of orthopedic devices worldwide, and its products are used for surgical reconstruction, rehabilitation, pain management and physical therapy. Here are 13 things to know about DJO Global.
1. The company, initially called DonJoy, was founded in a garage in Carlsbad, Calif., in 1978 by Mark Nordquist, an offensive line captain for the Philadelphia Eages, and Ken Reed, a lawyer . The company's first products were sleeves that pulled over the knee, ankle and elbow joints for support. The business took off in 1980, after the introduction of a rigid knee support device called the 4-point knee brace.
2. In 1987 Smith & Nephew bought the company for $20 million. The company changed its name from DonJoy to DJ Orthopedics in 1999 when the management team arranged a leveraged buyout. DJ Orthopedics went public in 2001. The company became privately held once again in 2007, after being purchased by Blackstone Group.
3. DJO Global now employs more than 5,000 people in more than a dozens facilities worldwide. It boasts a line of more than 1,000 medical devices spanning the entire continuum of care.
4. DJO Global includes numerous brands and products such as DJO Surgical, Aircast, DVT, Dr. Comfort and Empi. In 1995, the company acquired Procare, an orthopedic soft goods company.
5. DJO Surgical offers healthcare providers a number of devices for hip, knee and shoulder procedures, including its recently released Exprt Precision System for knee revision surgeons. The system features a two-tray design that aims to replace the traditional eight-tray setup used during complex, total knee revisions. Other key products include the Foundation Revision Knee System and the Match Point System that enables surgeons to preoperatively tailor shoulder arthroplasty to the patient's anatomy.
6. DJO Global's surgical division also recently acquired Biomet's Cobalt Bone Cement, Optivac Cement Mixing Accessories and Discovery Elbow System. The transaction is expected to close within the next 10 days and comes on the heels of the Zimmer-Biomet merger. The Discovery Elbow will be DJO's first elbow technology.
7. DJO Global's net sales were down for the first quarter of 2015. The net sales for the first quarter were $280.1 million, a 0.9 percent negative growth compared to the same period last year. The net sales were negatively impacted by $12 million related to the foreign currency exchange rates compared to the same period last year.
8. The surgical implant segment had $26.9 million for net sales in Q1 2015, up 14.4 percent on the sales per day basis. The surgical implant market success was driven by strong sales from the shoulder, knee and hip products. The adjusted EBITDA for the first quarter was $59 million, 21.1 percent of net sales.
9. DJO Global saw a $90.5 million net loss for full-year 2014, down significantly from $203 million reported in 2013. Adjusted EBITDA for the full year was $282.3 million, or 23 percent of net sales. In comparison, adjusted EBITDA for the full year of 2013 was $264.2 million.
10. According to Millennium Research Group analysis, the U.S. orthopedic bracing market is highly fragmented and competitive. However, DJO Global, with just over a quarter of the total market share, is at its forefront.
11. Michael P. Mogul is DJO Global's president, director and CEO. Before arriving at DJO, he served as president and then group president of orthopedics for Stryker. He has attended the Advanced Management Program at the Harvard Business School. Susan Crawford is executive vice president and CFO at DJO Global. She previously served as vice president of business transformation at Life Technologies.
12. Brady R. Shirley was appointed president of DJO Surgical in March 2014. He has more than 20 years of experience in the orthopedic industry, most recently as CEO of Innovative Medical Device Solutions.
13. DJO Global supported and made possible the American Medical Society for Sports Medicine Foundation's International Traveling Fellowship program tour to Australia. DJO Global is a Platinum Elite Corporate Partner with the American Orthopaedic Society for Sports Medicine.