DJO Incorporated completed its merger with ReAble Therapeutics Inc. Pursuant to the terms of the merger agreement, holders of DJO’s common stock will receive $50.25 in cash for each share of DJO common stock that they owned immediately prior to the effective time of the merger. The transaction is valued at approximately $1.5 billion.
Following the closing, ReAble Therapeutics Inc. was renamed DJO Incorporated and will relocate its headquarters to Vista, Calif.
“On behalf of both DJO and ReAble, I am pleased that we have completed this transaction, which establishes our company as one of the largest global providers of solutions for musculoskeletal and vascular health,” said Les Cross, chief executive officer of the new DJO Incorporated, in a company press release. “Both organizations have enjoyed a proud history, with talented employees driving each company to a respected leadership position in their markets.
“We continue to be excited about the business prospects for the new DJO. This combination provides us with great opportunities to strengthen our value proposition for our customers in two important ways. First, the crossover of our distribution channels should provide our sales teams with significant cross-selling opportunities in global markets for the two companies’ product lines, providing our customers with one-stop access to some of the best brands in the business.
“Second, the merger accelerates the pace of innovation within the new DJO. From the collaboration of our product development teams we can bring unique new products to market that better serve the needs of our customers and their patients.”
