Miramar, Fla.
As part of what it calls “an aggressive growth push,” FLA Orthopedics has acquired Eatontown, N.J.-based American Professional Bracing, a supplier of off-the-shelf spinal bracing products, to add to its range of orthopedic supports and braces for the wrist, elbow, knee, back and ankle.
FLA was acquired in December by private equity firm The Riverside Co., and recruited a new CEO, Rex Niles, in March. The company said it aims to double in size by 2008 through a combination of acquisitions and new products. According to Niles, who said the acquisition moves FLA into a new area, “off-the-shelf back braces are taking market share from custom braces because they are more convenient and provide the necessary treatment at a fraction of the cost.” With an aging population and an increase in spinal surgeries, the company said overall demand for back support products is growing.
