WishBone Medical, Inc., a Warsaw, Indiana-based supplier of pediatric orthopedic medical devices, has recently announced the acquisition of Back 2 Basics Direct, LLC. and Orbbö Surgical, LLC. Both companies specialize in the manufacture of single-use, pre-sterilized implants and instruments intended for spine and orthopedic procedures. The acquisitions mark Wishbone’s 5th and 6th additions in the last 18 months.
The terms of the acquisitions were not disclosed, however a website advertising the 2019 bankruptcy auction of Orbbö’s assets valued them at $3.9 million, not counting the value of four 510(k) clearances.
“These acquisitions strengthen WishBone’s position in the pediatric orthopedic market with the addition of nine (9) FDA cleared, sterile packaged, spinal fusion product lines with year one revenue projections in excess of $12M,” stated Robert Wertz, D.C., Global VP of Market Development of Spine & Sports Medicine.
Wertz added, “Also, our go-to-market plans include the addition of Back 2 Basics’ enhanced carbon composite biomaterials platform to our product development roadmap which will allow us to deliver an innovative pipeline of highly differentiated and disruptive technologies across our entire pediatric implant portfolio.”
The acquisitions mark the company’s initial foray into the pediatric spine market, previously focusing on extremity fixation and defect correction. Chief Revenue Officer Kevin Blue commented, “We’re always looking to provide highly differentiated products that deliver clinical benefits with the potential to dramatically improve the lives of pediatric patients worldwide. These latest transactions will continue to position WishBone as the leading provider of sterile packed, anatomically appropriate procedure kits in the wake of the COVID-19 era.”
Back 2 Basics recently received FDA 510(k) clearance for its carbon composite rods, which the company’s Co-Founder Louis Keppler, M.D., says he is excited to continue developing and commercializing with WishBone.
In addition to the acquisitions, WishBone recently announced the appointment of Jeff George to its Board of Directors. Currently the Managing Partner of Maytal Capital, a private equity firm, George brings “expertise and capital” to Wishbone, according to WishBone CEO Nick Deeter. George said of his appointment, “WishBone is an exciting, mission-driven, and rapidly-growing leader in pediatric orthopedics, and I am honored to join the Board.”
