Tornier snags OrthoHelix for $135M

Dutch device company Tornier ($TRNX) has signed on to purchase OrthoHelix Surgical Designs for $135 million plus milestones, acquiring the company's foot and ankle systems.

OrthoHelix makes implantable screw and plate systems to repair small-bone fractures and deformities, and the company is projected to close $29 million in sales for 2012, a 30% jump over 2011, Tornier said.

Tornier expects the acquisition to more than double its revenue in lower-extremity devices, Tornier CEO Douglas Kohrs said in a statement. The company will retain OrthoHelix's brand name and 80 employees.

"The transaction will enable us to substantially expand our sales coverage of foot and ankle surgeons, significantly enhance our addressable lower-extremity market opportunity, and position us to achieve more consistent growth across our upper- and lower-extremity product categories," Kohrs said.

Under the terms of the deal, Tornier will put up $100 million in cash and make up the $35 million difference in stock. Tornier didn't disclose when it expects to wrap up the deal, but it is not altering its earnings guidance for the fiscal year.

- read Tornier's release