Lewisville medical device maker's merger will create a $700 million a year company - The Dallas Morning News

Lewisville-based Orthofix volition merge with a California steadfast to signifier a aesculapian instrumentality shaper with combined gross of astir $700 cardinal and products distributed successful 68 countries.

The all-stock woody with SeaSpine, a Carlsbad-based institution that makes spinal and orthopedics devices, is expected to adjacent aboriginal adjacent year. The combined firm, which volition beryllium named astatine closing, volition beryllium headquartered successful Lewisville with offices successful Carlsbad and Verona, Italy.

SeaSpine CEO Keith Valentine said successful a connection that the woody creates “an manufacture person with the contiguous fiscal spot to self-fund investments that present some maturation and amended diligent outcomes.”

Valentine volition pb the caller institution arsenic main executive. Orthofix CEO Jon Serbousek volition go enforcement chairman.

Orthofix shareholders volition ain 56.5% of the merged companies erstwhile the woody closes. SeaSpine shareholders volition person 0.4 shares of Orthofix communal banal for each stock they own.

Both companies absorption connected spine and orthopedics technology, partnering with surgeons treating patients for spinal disorders and injuries. They besides nutrient bone-healing therapies, spinal implants and orthopedic devices.

Orthofix’s income person been level this year, totaling $339 cardinal done Sept. 30. Its full-year gross past twelvemonth was $464 million. In August, SeaSpine said it expects to station double-digit maturation this year, with gross coming successful astir $235 million.

“We look guardant to capitalizing connected this merger’s tremendous worth instauration opportunities,” Serbousek said.

In summation to the Texas, California and Italy offices, the combined firm’s 1,600 employees volition enactment successful facilities successful Irvine and Sunnyvale, Calif., Toronto, Canada; Wayne, Pa.; Olive Branch, Miss.; Maidenhead successful England; and Munich, Paris and Sao Paulo.