Germany: Trendlines sells holding of OrthoSpin to Synthes

Israel-based investor, The Trendlines Group, has sold its 26.9%-owned (fully diluted) portfolio company, OrthoSpin, to Synthes (part of DePuy Synthes, the Orthopaedics company of Johnson & Johnson) as part of the US$79.5m acquisition. The cash acquisition, payable in full upon closing, yields total net proceeds for Trendlines of US$15.8m after expenses, representing a 165% internal rate of return (IRR) on Trendlines’ total…