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Permira announces funds to acquire Corin

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A company backed by the Permira funds has signed a definitive agreement to acquire a majority stake in Corin Orthopaedics Holding Ltd. from DeA Capital Alternative Funds SGR, Hunt Capital IP and other investors for an undisclosed sum, according to a press release. This is Permira’s first investment in the orthopedics market.

“We are excited to support Stefano Alfonsi and his outstanding management team in the next phase of Corin’s development,” Silvia Oteri, a partner in Permira’s health care team, said in the release. “We have been following the orthopaedic industry for a long time and have been impressed by the rapid growth of challenger innovative companies like Corin. Since 2012, the company has transformed from a basic orthopedic manufacturer into a fast-growing international software-led orthopedic-implant designer. We look forward to working with the team and drawing on our significant health care and technology experience, to help the company capture further growth opportunities.”

Following antitrust approval, the transaction between Permira and Corin is expected to close July 2018.

Reference:

www.coringroup.com