Back in December 2006, Kyphon announced its planned acquisition of Disc-O-Tech for up to $240 million in a multi-staged transaction. In order for Kyphon to finalize its acquisition of Disc-O-Tech, the FTC required Kyphon to divest of Disc-O-Tech's Confidence assets to address antitrust concerns. Last week when Medtronic announced the completion of their acquisition of Kyphon, the Company also announced that Kyphon entered into a definitive agreement to divest the Disc-O-Tech Confidence product line.
Earlier this week, DePuy Spine, Inc. emerged as the buyer of the Confidence line. DePuy Spine said they see the acquisition as a "significant growth opportunity" following a challenging 3Q:07. The company announced recently that third quarter revenues were down 1% in the US, up 8% overall.
These new Confidence assets encompass a cement delivery system and "novel" PMMA bone cement, in addition to a pipeline of VCF treatments in development.
The financial terms of the transaction were not disclosed.
