On August 7, 2006 Orthofix International announced that it had finalized a deal in which it would acquire Blackstone Medical, Inc. President and Chief Executive Officer of Blackstone, Matt Lyons, said about the deal that:
“We are especially excited about the benefits of combining our advanced product development capabilities with Orthofix’s experience in developing innovative minimally- and non-invasive medical devices.”
At the time of the acquisition Blackstone was the biggest and fastest growing privately owned company focusing on the marketing, development and design of biologic products related to spinal implantation.
The merger of Orthofix and Blackstone will bring together each company’s strengths. Orthofix is a global leader in the marketing of spinal stimulation devices, while Blackstone offers a large array of fusion, non-fusion and other biologic products.
Orthofix Chairman James F. Gero commented that, “This transaction represents one of the most significant milestones in Orthofix’s history, and the entire Board of Directors is committed to the proposed combination with Blackstone. We are all pleased to be a part of this unique opportunity to further the advancement of innovative spinal technologies for the benefit of all our customers worldwide.”