Vista-based DJO Global Inc., a provider of medical devices for musculoskeletal health, vascular health and pain management, said that its indirect subsidiary, DJO LLC, a wholly owned subsidiary of DJO Finance LLC, signed a merger agreement with Exos Corp. and consummated the acquisition of Exos, both effective Dec. 28.
Exos is a medical device company focused on a thermoformable external musculoskeletal stabilization system. Exos, based in Minnesota, has issued and pending U.S. patents for the application, materials and construction of its products and continues to add to its intellectual property portfolio.
Exos offers a thermoformable bracing system, comprised of a waterproof, removable, adjustable and reformable solution for the treatment of fractures and other injuries requiring stabilization. DJO LLC has been the exclusive distribution partner for Exos in the United States since October 2011.
Because DJO LLC is already the distribution partner for Exos, the company said the merger will not impact DJOFL's reported net sales, but is expected to increase DJOFL's operating margins and operating income from the sale of Exos products. The financial terms of the merger have not yet been disclosed, but the company indicated that, on a pro forma basis, taking the acquisition of Exos into consideration, it does not expect any material changes in DJOFL's ratios of net first-lien debt or net total debt to pro forma consolidated EBITDA.