03.01.2024 12:00:06 - dpa-AFX: GNW-Adhoc: Enovis Completes Acquisition of LimaCorporate S.p.A
WILMINGTON, Del., Jan. 03, 2024 (GLOBE NEWSWIRE) -- Enovis(TM) Corporation (NYSE:
ENOV, "Enovis" or the "Company") an innovation-driven, medical technology growth
company, today announced that it closed the acquisition of LimaCorporate
S.p.A. ("Lima"), a privately held global orthopedic leader focused on restoring
motion through an innovative portfolio of implant solutions.
Lima strengthens Enovis' position in the global orthopedic reconstruction market
with a complementary portfolio of proven surgical solutions and technologies,
which will accelerate global growth and margin expansion. In addition, Lima's
portfolio includes 3D printed Trabecular Titanium implants and a comprehensive
revision offering in shoulders, which will further strengthen the Company's
position in the fast-growing extremities market.
"We are excited to welcome Lima's talented team to Enovis. The combination
brings Enovis' recon segment to $1 billion in revenues and creates a fast-
growing innovator in the global orthopedic reconstruction market. This is
another great example of how we use strategic acquisitions to accelerate our
growth, add great technologies and talent to our company, and drive compounding
value for our shareholders," said Matt Trerotola, Chair, and Chief Executive
Officer of Enovis.
About Enovis Corporation
Enovis Corporation (NYSE: ENOV) is an innovation-driven medical technology
growth company dedicated to developing clinically differentiated solutions that
generate measurably better patient outcomes and transform workflows. Powered by
a culture of continuous improvement, global talent, and innovation, the
Company's extensive range of products, services, and integrated technologies
fuels active lifestyles in orthopedics and beyond. The Company's shares of
common stock are listed in the United States on the New York Stock Exchange
under the symbol ENOV. For more information about Enovis, please visit
www.enovis.com
Forward-Looking Statements
This press release includes forward-looking statements, including forward-
looking statements within the meaning of the U.S. Private Securities Litigation
Reform Act of 1995. Such forward-looking statements include, but are not limited
to, statements regarding the Company's plans, objectives, expectations and
intentions and other statements that are not historical or current fact.
Forward-looking statements are based on the Company's current expectations and
involve risks and uncertainties that could cause actual results to differ
materially from those expressed or implied in such forward-looking statements.
Factors that could cause the Company's results to differ materially from current
expectations include, but are not limited to, risks and uncertainties regarding
the Company's and Lima's respective businesses, and actual results may differ
materially. These risks and uncertainties include, but are not limited to, the
effects of the acquisition on the Company's and Lima's operations, including on
the combined company's future financial condition and performance, operating
results, strategy and plans, including anticipated tax treatment, unforeseen
liabilities, future capital expenditures, revenues, expenses, earnings,
synergies, economic performance, indebtedness, losses, future prospects, and
business and management strategies for the management, expansion and growth of
the new combined company's operations; the potential impact of the consummation
of the acquisition on relationships with customers, suppliers and other third
parties; and the other factors detailed in the Company's reports filed with the
U.S. Securities and Exchange Commission (the "SEC"), including its most recent
Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q under
the caption "Risk Factors," as well as the other risks discussed in the
Company's filings with the SEC. In addition, these statements are based on
assumptions that are subject to change. This press release speaks only as of the
date hereof. The Company disclaims any duty to update the information herein.
Investor Relations Contact
Kyle Rose
Vice President, Investor Relations
Enovis Corporation
+1-917-734-7450
investorrelations@enovis.com
Media Contact
Katie Sweet
Vice President, Corporate Communications
Enovis Corporation
Katie.sweet@enovis.com
Â