Shalby, a leading multi-specialty hospital in India, has entered into a definitive agreement to acquire certain assets from Consensus Orthopedics (Consensus) a company headquartered in El Dorado Hills, Sacramento, California for a cash consideration of USD 11.45 million.

The assets were acquired by Shalby Advanced Technologies Inc, a wholly owned subsidiary of Mars Medical Devices, which in turn is a wholly owned subsidiary of Shalby.

Consensus designs and manufactures orthopedic implants and instruments with sales predominantly in North America. Key customers include hospitals, surgeons and wholesale distributors.

Consensus has a long-standing track record of innovation and completed over 160,000 joint replacement procedures with zero recalls in the company's history.

The acquired assets are primarily comprised of inventory and plant and equipment. Product inventory includes knee systems, mobile bearing knee systems, hip systems and revision knee systems.

The manufacturing plant and equipment consists of machining & finishing (60,000 components per annum), inspection (75,000-80,000 components per annum) and cleaning, packaging & sterilization (150,000 components per annum). The manufacturing site is USFDA certified and has ISO certification 13485:2016.

In addition, an experienced team of over 40 Consensus employees will be joining Shalby as part of this transaction.

Shalby is the leading hospital in hip and knee replacement surgeries in India with a 15% market share in private hospitals offering joint replacement.

Shares of the company gained Rs 4.7, or 2.93%, to trade at  Rs 165.  The total volume of shares traded  was  45,414 at the BSE (11.24 a.m., Monday).