DJO stock ceases trading following acquisition of company by ReAble Therapeutics

By Lisa Kerner

Charlotte, N.C., Nov. 20 - ReAble Therapeutics, Inc. completed its acquisition of DJO Inc. As a result, DJO's stock ceased trading on the New York Stock Exchange at the market's close on Tuesday.

DJO shareholders will receive $50.25 cash per DJO share held. The transaction was first announced in July, and its total value is some $1.5 billion.

ReAble will be renamed DJO Inc. and will relocate its headquarters to Vista, Calif.

Financing for the merger was provided by the combination of an equity contribution from Blackstone Capital Partners V LP, an affiliate of the Blackstone Group, and debt financing arranged by Credit Suisse and Bank of America.

"On behalf of both DJO and ReAble, I am extremely pleased that we have completed this transaction, which establishes our company as one of the largest global providers of solutions for musculoskeletal and vascular health," Les Cross, chief executive officer of the new DJO Inc., said in a company news release.

DJO is a San Diego-based provider of products and services that promote musculoskeletal and vascular health.

ReAble, based in Austin, Texas, manufactures and distributes orthopedic devices for musculoskeletal conditions resulting from degenerative diseases, deformities, traumatic events and sports-related injuries.

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