Dynamic Healthcare M&A Database

Acquiring Party	BSN Medical, a Germany-based multinational healthcare supplier and a portfolio company of Montagu Private Equity.
Transferring Party	FLA Orthopedics, Inc., a leading U.S. manufacturer of orthopaedics soft goods and bracing products and a portfolio company of The Riverside Company.
Sector	Medical Devices
Date	November 5, 2007
Analysis Represents an expansion of BSN's product range in the orthopedics softgoods and bracing market. FLA's distribution channels are home medical equipment retailers, independent pharmacies and DME dealers. This is 3rd add-on deal since BSN was bought by Montague in 06. In 06, BSN acquired M-PACT, a U.S. manufacturer of fracture management products, and Cognon-Morin, a leading French compression hosiery manufacturer. Riverside bought FLA in 04 and, with this exit, generated an IRR of 86% and a gross cash-on-cash return of 6.4 times, with an increase in sales of 70% (together with 2 add-on acquisitions).
The Walden Group is a leading healthcare investment banking firm specializing in mergers, acquisitions and strategic transactions. It also invests its own funds and, together with its expert operational partners, provides value-added services to help special companies reach critical milestones. This information is copyright © 2004-2007 The Walden Group, Inc. This information is provided as a service to the public but remains the intellectual property of The Walden Group, Inc and may not be reproduced in any manner without the written permission of The Walden Group, Inc. The information contained in the transactions table was derived from publicly available and other sources. Transaction analysis and other information are based, in part, upon public comments, Walden Group research and judgments, and reporting and research of others. The information is not intended to be relied upon as pronouncements by the transaction participants or for any other reason.

Dynamic Healthcare M&A Database - 4Q07