Orchid MPS Holdings LLC. has finalized the acquisition of Sandvik Medical Solutions. Both companies are manufacturers of orthopedic implants and instruments, the former based in Holt, Mich. and the latter in Sandviken, Sweden. Altor Funds III, also based in Sweden, owns Orchid.

The new company will be called Orchid Orthopedic Solutions and will employ approximately 1500 people. According to Orchid, together the companies will be involved in about 30 percent of all orthopedic implants worldwide. Orchid was founded in 1977 under the name “Unique Instruments.”