GLOBUS MEDICAL INC acquired StelKast, Inc. for approximately $28.4 million net assets (about $24.1 million cash at closing plus up to $4.3 million contingent consideration based on product-sales milestones), a transaction completed in April 2019, structured as all cash. The deal was a Asset purchase.
StelKast, Inc. operates in Orthopedics — joint reconstruction (knee and hip), is based in USA. StelKast, Inc. is a privately held company that designs, manufactures and distributes orthopedic implants for knee and hip replacement surgeries.
Serves as a platform to expand Globus's products and services into the Total Joint Arthroplasty market, combining its product-development engine and computer-assisted Imaging, Navigation and Robotics technologies with joint-replacement products.
Entry platform into the Total Joint Arthroplasty (knee and hip) market with an established implant portfolio. Integrated into Globus Medical's musculoskeletal portfolio
The StelKast acquisition should serve as a platform to expand our products and services into the Total Joint Arthroplasty market. Globus Medical's proven product development engine and history of innovation, when combined with our computer assisted technologies in Imaging, Navigation and Robotics, have the potential to improve clinical care for joint arthroplasty patients and create value for shareholders.David Paul, Executive Chairman, Globus Medical
Advisory firms were not disclosed for this transaction.