IRVINE, Calif., July 5 /PRNewswire/ -- VQ OrthoCare, a provider of orthopedic and spine solutions, today announced that it has acquired the orthopedic brace business of Vista, California-based OMNI life science Inc., a company focused on the design, manufacture and distribution of joint replacement products for the orthopedics market. The transaction closed on June 30.
The acquisition by VQ OrthoCare consists of all of the assets of OMNI’s orthopedic brace manufacturing and distribution business, as well as OMNI’s complete line of custom and ready to fit ligament instability and osteoarthritis bracing products. Customers will continue to find the OMNI life sciences name on braces during a transition period before all products are converted to the VQ OrthoCare brand, and integrated in the company’s existing bracing product line in 2007.
“The acquisition of the OMNI knee bracing division is an important milestone in VQ’s expansion in the orthopedic space,” said James W. Knape, founder and CEO of VQ OrthoCare. “Osteoarthritis and ligament bracing are two of the fastest growing product segments offered by VQ. In-house control of brace manufacturing is the next logical step in our plan to offer quality, innovation, and cost-effective technology to physicians, patients and payors under the VQ OrthoCare name.”
“The sale of OMNI’s brace division to VQ OrthoCare is of significant mutual benefit for both companies,” said David L. LaSalle, Chief Operating Officer. “This decision provides a tremendous opportunity for the brace division with a company increasingly focused on brace manufacturing and sales, while OMNI focuses its efforts on joint replacement products.”
Manufacturing is expected to continue at OMNI life science’s facility in Vista, Calif., under VQ OrthoCare management. A new line of VQ OrthoCare braces, under development in partnership with OMNI life sciences prior to the acquisition, is slated for market introduction by VQ OrthoCare in early 2007.
VQ OrthoCare is a global health care provider of patient-centered solutions for the orthopedic and spine markets. Founded in 1989, the company’s drug-free product offering includes manufacturing and distribution of braces, electrotherapy, bone growth stimulation, continuous passive motion, cold therapy and traction. Services include in-home patient fitting of braces and medical devices, technology-enabled prescription compliance monitoring, physician support and around-the-clock patient care. Headquartered in Irvine, Calif., VQ OrthoCare has 300 employees and distribution partners in 26 states and nine countries. For more information on VQ OrthoCare, please visit us at www.vqorthocare.com, or call 800-266-6969.
OMNI life science, Inc., a medical device company based in Vista, California, is focused on the design, manufacture, and distribution of joint replacement products for the orthopedics market. OMNI’s product line includes total hip and knee replacement implants. For additional information on OMNI life science Inc., please visit www.omnils.com.
VQ OrthoCare
CONTACT: Patricia Minassian, Director of Marketing of VQ OrthoCare,+1-949-794-3500, or pattim@vqorthocare.com
