Orthofix Sells Biz Unit

Orthofix International said it agreed to sell its sports medicine business to private equity firm Water Street Healthcare Partners for $157.5 million, Reuters reported Tuesday.

(Reuters) – Orthofix International NV said it agreed to sell its sports medicine business to private equity firm Water Street Healthcare Partners for $157.5 million.

 

The medical devices company said it will use the net proceeds from the sale — expected to be about $140 million — to prepay debt.

 

Orthofix’s unit, Breg Inc, provides a portfolio of bracing and cold therapy products to treat a variety of sports-related conditions.