15 Oct, 2014, 09:30 ET
CARLSBAD, Calif. and PLANO, Texas, Oct. 15, 2014 /PRNewswire/ -- Breg, Inc. and United Orthopedic Group, Inc. ("UOG") announced today that they have merged to create a leading U.S. provider of sports medicine, rehabilitative orthopedic products and services. Brad Lee, president of Breg, has been appointed president of the newly combined company.
Together, Breg and UOG will offer one of the industry's most comprehensive suites of products and services to support orthopedic providers with preventing and rehabilitating orthopedic injuries. Their combined product portfolio will feature four major product brands of orthopedic braces, cold therapy devices and deep vein thrombosis prophylaxis products: Breg, Bledsoe Brace Systems, Hope Orthopedics and Cothera. In addition, customers will have access to an expanded menu of services to support the operations of their orthopedic practices with the addition of Viscent LLC, a UOG company specializing in billing.
"This merger brings together two leaders who are highly regarded for their patient-centric product design and commitment to serving customers from every angle," said Mr. Lee. "As one company, Breg and UOG offer a unique portfolio of innovative, world-class quality products and services that meet most every need of orthopedic providers and their patients. Together we have the opportunity to shape new frontiers in orthopedic care."
Breg and UOG's merger comes as demand for rehabilitative products is growing, driven by the aging U.S. population, rising prevalence of chronic conditions and the health care industry's focus on containing costs through non-surgical treatments. With nearly 60 years of combined experience in developing and manufacturing bracing and cold therapy products, Breg and UOG plan to leverage their research and development capabilities to develop new devices in collaboration with orthopedic providers.
"I am very pleased to have completed this merger with Breg," said Gary Henley, chief executive officer, UOG. "The combination of our design expertise and operational capabilities puts the company in a much stronger position to support customers with achieving their goals for improving patient outcomes and enhancing the overall patient experience."
Mr. Henley will serve as an advisor to the combined company and be part of the executive steering committee that will lead the integration of Breg and UOG. Together, Breg and UOG will employ approximately 1,000 people and operate in 47 countries. UOG will operate as a wholly-owned subsidiary of Breg. The combined company will be headquartered in Carlsbad, Calif.
Financial terms of the merger are not being disclosed.
About Breg, Inc.
Breg provides premium, high-value sports medicine products and services that advance orthopedic patient care. From pioneering cold therapy and innovative bracing to caring customer service and award-winning orthopedic practice business solutions, Breg delivers a 360⁰ customer experience unmatched in the industry. Founded in 1989, Breg is based in Carlsbad, Calif., and is a company of Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry. For more information, visit www.breg.com.
About United Orthopedic Group, Inc.
United Orthopedic Group (UOG) is a global orthopedic company with diverse operations all designed to provide outstanding service to orthopedic physician customers. In addition, its manufacturing subsidiaries produce some of the highest quality non-invasive orthotic rehabilitation products available today to thousands of satisfied patients worldwide. UOG is a rapidly growing company with strong financial backing and an active acquisition program to add new partner companies to its team. For more information, visit www.unitedorthogroup.com/.
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SOURCE Breg, Inc.
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