OrthoPediatrics declines on $33 mln deal to buy Pega Medical

Orthopediatrics

14/06/2022 16:42

** Shares of OrthoPediatrics Corp  KIDS.O  down 5% at
$38.43; on track for a fourth straight session of losses 
    ** Medical device maker says it will buy smaller peer Pega
Medical in $33 mln cash-and-stock deal  urn:newsml:reuters.com:*:nGNX7svxLk
    ** Says it increased its line of credit with Squadron
Capital from $25 mln to $50 mln, which it will use to finance
the deal 
    ** Adds it is increasing its full-year 2022 revenue guidance
range to $125 mln to $128 mln vs earlier estimate of $122 mln to
$125 mln 
    ** Stock down 36% YTD

 (Reporting by Eva Mathews in Bengaluru)
 ((Eva.Mathews@thomsonreuters.com;))