Stockholm-based private equity firm, EQT AB, announced on September 25 that it was selling LimaCorporate to Enovis Corporation.
LimaCorporate is a global orthopedic implant manufacturer with a reputation for innovation, reflected in its industry leading know-how in additive manufacturing, such as its proprietary Trabecular Titanium technology. The company focuses on shoulder, knee and hip prostheses with a portfolio that includes one of the first modular shoulder systems in the world, the SMR, the Delta hip cup family and the Physica system knee. According to its financial report, it generated revenue of more than $263.75 million in 2022.
Enovis Corporation is a medical technology growth company dedicated to developing clinically differentiated solutions that generate better patient outcomes and transform workflows. According to its financial report, full year operating loss was $71 million or 4.6% of sales and adjusted EBITDA margins improved 70 basis points to 15.1%.
With this transaction, LimaCorporate becomes part of Enovis Corporation in a strategic combination that creates a global leader in the orthopaedic industry.
EQT was advised by Goldman Sachs as lead financial advisor, and Morgan Stanley, Mediobanca, Latham & Watkins and PwC. The transaction is expected to close in early 2024.
According to data captured in the LevinPro HC database, this transaction is the 82nd Medical Devices acquisition of the year. This is Enovis’ second acquisition of the year, following its purchase of Novastep, a medical device company based in New Jersey.
