Lewisville, Texas-based global medical device company, Orthofix Medical Inc., has announced its acquisition of Options Medical, LLC, a Gainesville, Florida-based medical device distributor. The terms of the agreement were not disclosed.
Options Medical was founded in 2012 and had more than 40 team members that distributed medical devices in Florida and Connecticut. As part of the deal, all employees of Options Medical became employees of Orthofix on February 1, 2019.
In a press release announcing the acquisition, Brad Niemann, president of Global Orthofix Spine, said, “Options Medical has been a successful distributor for our Bone Growth Therapies devices for many years… We are pleased to have this established and proven partner join the Orthofix team as a part of our direct sales force.”
Orthofix has approximately 900 employees around the world. Its spine and orthopedic extremities products are sold in over 70 countries. The company has four strategic business units that include BioStim, Biologics, Extremity Fixation, and Spine Fixation. Its mission statement “is to improve patients’ lives by providing superior reconstruction and regenerative musculoskeletal solutions to physicians worldwide.”
Beth Stevenson, distributor principal and founder of Options Medical, said, “Options Medical started in North Central Florida as a small team of hard-working individuals who wanted to provide the best in medical device solutions to physicians… Today I am proud to say we have grown into a team of 40 plus who cover the states of Florida and Connecticut. We are excited to become a part of Orthofix and look forward to continuing our record of success for many years to come.”
Stevenson received 25,478 restricted units of Orthofix common stock as inducement to enter employment with Orthofix. The stock will vest in three annual increments beginning on the first anniversary of the grant.
Orthofix declined to provide additional comment.
