DJ Orthopedics Changes Name to DJO Inc.
BY JOHN MCCORMICK, MAY 31, 2006
Yesterday morning, dj Orthopedics Inc. announced that it changed its name to DJO Inc. following its recent acquisition of Aircast Inc.
The company acquired Aircast, famous to soccer moms for its ankle braces and casts, for $290 million at the beginning of 2Q:06.
The name change is meant to reflect the company's growth beyond it's flagship DonJoy brand. According to Les Cross, DJO's CEO, the "name change reflects the diversification that has taken place in the Company's business that now includes multiple product lines that extend beyond our historical roots in orthopedics, such as our SpinaLogic bone growth stimulators and our new vascular systems business acquired with Aircast. It also reflects the evolution of our internal operations that now include award-winning research and development capabilities that have strengthened the breadth and depth of our product offering and our world class manufacturing and distribution processes that continue to produce high quality, cost-effective products that add value to our customers. Our culture of urgency and accountability provides us with a powerful growth engine as we move toward future new horizons."
