Healthcare Industry News:  RSV 

Devices Orthopaedic Mergers & Acquisitions

 News Release - November 5, 2007

BSN Medical Has Acquired FLA Orthopedics, Inc., a Leading U.S. Manufacturer of Orthopaedics Soft Goods (OSG) and Bracing Products

HAMBURG, Germany--(HSMN NewsFeed)--Germany’s BSN medical, based in Hamburg, today announced the acquisition of FLA Orthopedics, Inc. through its wholly owned subsidiary BSN medical, Inc. from international private equity house The Riverside Company for an undisclosed sum. FLA Orthopedics is a leading U.S. manufacturer and distributor of orthopaedics soft goods (OSG) and bracing products.

For BSN medical, the acquisition of FLA Orthopedics signifies an expansion of its product range in the strategic growth segment of OSG and bracing products in the U.S., the world's largest market for such products by far. FLA Orthopedics, based in Miramar, Florida, offers an extensive product portfolio in the area of OSG and bracing products including the fast-growing segment of spinal bracing. The portfolio also encompasses adjacent product categories such as compression hosiery and diabetic footwear. The company employs approximately 250 people in production and distribution and has two additional locations in HunteRSVille, NC, and Eatontown, NJ. FLA Orthopedics expects sales in excess of US $40 million in 2007.

The acquisition of FLA Orthopedics is the third for BSN since the completion of its own management buyout in February 2006. With the support of Montagu Private Equity, the management of BSN medical has used acquisitions to significantly accelerate growth. In July 2006, BSN medical acquired M-PACT, a U.S. manufacturer of fracture management products and in December 2006, it acquired Cognon-Morin, a leading French compression hosiery manufacturer.

“With FLA Orthopedics, we are particularly pleased to have acquired a company whose product range ideally complements that of BSN medical in the U.S. and at the same time offers room for synergies from which both parties and our customers can benefit,” said Graham Siddle, CEO of BSN medical. “The FLA acquisition is fully in line with our strategy to grow BSN both organically and by way of acquisition and to expand in fast-growing markets. The U.S. is the prime market in the OSG and bracing sector globally and therefore plays a crucial part in our business development strategy.”

Notes to editors:

BSN medical, Hamburg, is one of the world’s leading suppliers in the product segments casting, bandaging, traditional wound care and compression stockings. Established in April 2001 as a joint venture between Beiersdorf AG, Hamburg, and Smith & Nephew plc, London, the company has been an independent player since a management buyout in February 2006. Several of the company’s brands – such as Gypsona, Orthoglass, Jobst, Deltacast and Leukoplast – are to be numbered among the most trusted names in the healthcare profession.

BSN medical has production facilities in Germany, France, the UK, Mexico, Pakistan, South Africa and the U.S. In Germany, the company has operations in Hamburg and Emmerich.

BSN medical operates in 28 countries, employs approximately 3,400 staff, has generated revenues of €529 million in 2006, and continues to grow in excess of 4%.

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Montagu Private Equity

Montagu is a leading private equity investor in the European mid-market with offices in London, Manchester, Paris, Düsseldorf and Stockholm. Over the last 38 years, the firm has supported more than 400 businesses operating across a range of different segments and sectors, and currently has more than €3 billion under management. Montagu is focused on investing in management buyouts in partnership with the incumbent management team. The firm has a strong track record of delivering superior returns over time, an extensive network of contacts and offers its portfolio companies capital, financial expertise and strategic assistance in order to unleash their full development and growth potential.

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Source: BSN medical

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