Dynatronics Corp announces it has acquired all of the assets of Bird & Cronin Inc, a Minneapolis-based manufacturer of orthopedic soft goods and specialty patient care products, for $14.5 million.
Bird & Cronin will now operate as a wholly owned subsidiary of Dynatronics Corp, with Mike Cronin and Jason Andersen serving as co-presidents.
“Bird & Cronin is an excellent strategic fit for Dynatronics as it brings a financially attractive company with products complementary to those we manufacture,” says Kelvyn Cullimore, Jr, chairman and chief executive officer of Dynatronics, in a media release from Dynatronics Corp, based in Salt Lake City.
“With our broad distribution platform, we have the opportunity to expand Bird & Cronin’s products into the physical therapy private practice, athletic training, and chiropractic markets. We look forward to welcoming Mike Cronin and Jason Anderson, and other Bird & Cronin employees to the Dynatronics family.”
“Bird & Cronin has been a family owned and operated company for over four decades, and there is a strong cultural fit with Dynatronics,” states Mike Cronin, in the release.
“The combined businesses will provide more opportunities for our employees, and we believe the combination has the scale to fuel future growth in our many markets. Jason and I look forward to continuing to lead Bird & Cronin as co-presidents of this newly formed division.”
[Source: Dynatronics Corp]