DJO Global acquires specialist diabetic shoe brand
DJO Global, a US-based provider of medical device solutions, has announced that one of its indirect subsidiaries has signed a definitive agreement to purchase Rikco International, LLC, Dr. Comfort, for approximately $254.6 million.
Headquartered in Wisconsin, US, Dr. Comfort is a leading developer, manufacturer and marketer of therapeutic footwear and related medical and comfort products serving the growing diabetes care market. DJO said that for the year ended December 31, 2010, Dr. Comfort generated net sales of $71.8 million, reflecting growth of 22.5% over net sales of $58.6 million for the year ended December 31, 2009.
“Dr. Comfort has expanded the diabetic footwear market by providing the medical community with a broad assortment of high quality and attractive prescription-based footwear styles in a market that has traditionally been served by unattractive and clinical-looking footwear products,” said Les Cross, president and chief executive officer of DJO Global. “With innovative thinking and sales channel expertise, Dr. Comfort has driven provider and patient awareness of medically necessary diabetic footwear as an important modality that can prevent more serious diabetic complications such as foot ulcers. As a result, the company has achieved strong growth and the market leading position in diabetic footwear in the eight years it has been in business.
“Use of prescribed therapeutic footwear by patients suffering from diabetes complications, such as peripheral neuropathy and poor circulation of the lower limbs, is proven effective treatment in preventing and treating foot ulcers, which can eventually lead to toe and foot amputations. Wearing the appropriate therapeutic footwear offers diabetes patients a significantly improved outcome with their disease and improves their overall quality of life.
“On behalf of DJO, we look forward to Eric Lorenz, president of Dr. Comfort, his management team and the Dr. Comfort employee teams joining DJO Global. We look forward to our future growth opportunities together.”
