Vimian Group acquires veterinary orthopedic implants business in the US
Vimian Group has acquired the assets of New Generation Devices (NGD), a veterinary orthopedic implants company in New Jersey, US. The acquired business has annual revenues of around USD 4.5 million.
Vimian’s MedTech segment Movora has acquired the assets of New Generation Devices (NGD). Founded in 2001, NGD offers a selected range of veterinary orthopedic implants to veterinary clinics across the United States with focus on implants for ruptured cruciate ligaments (TPLO) and fracture plates. As part of the transaction, Movora has also acquired an exclusive license in the veterinary field that gives access to Citrate-BP, a synthetic biomaterial to guide tissue regeneration.
“Through this acquisition we gain access to a new loyal customer base to which we can offer our full product portfolio of veterinary orthopedic implants and surgical instrumentation. We also gain the global license to a new, innovative technology in the veterinary market. This acquisition has a clear strategic fit with Movora and significant synergy potential, says Chris Sidebotham, Co-CEO of Vimian’s MedTech segment Movora.
The acquisition will have a marginal impact on Vimian Group's earnings per share in the current financial year. The acquisition was consolidated into Vimian Group’s MedTech segment on 1 August.