DJO, a global medical device provider for musculoskeletal, vascular and pain management health, has acquired Elastic Therapy, an Asheboro, N.C.-based medical compression therapy products manufacturer, according to a DJO news release.
On Dec. 31, Elastic Therapy’s preliminary unaudited net revenue was approximately $26 million. The financial terms of the acquisition were not disclosed.
DJO financed the acquisition through its available revolving line-of-credit. Les Cross, president and CEO of DJO, said the acquisition will grow the company’s vascular franchise. Since compression therapy products have crossed over to the athletic market, the company stands to increase its presence in multiple areas, he said in the release.
Read the DJO release on the acquisition.