Boston-based medical technology company Implanet has received approval from its founding shareholders to acquire a majority stake in French implant manufacturer Orthopaedic & Spine Development, the company reported March 17.
Implanet specializes in vertebral and knee surgery implants. OSD manufactures, develops and markets spinal implants. The acquisition aims to strengthen Implanet's position in the spine market, according to the company.
OSD is valued at just over $5 million. OSD's founding shareholders, representing 71.5 percent of the capital, have responded favorably to the offer. A shareholder agreement to submit the acquisition will be convened before March 31.