Enovis to acquire LimaCorporate in €800 million transaction
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Key takeaways:
- Enovis has announced a definitive agreement to acquire LimaCorporate.
- Enovis will pay €700 million in cash and €100 million in Enovis common stock within 18 months of closing.
Enovis Corporation has announced a definitive agreement to acquire LimaCorporate S.p.A. for a total of €800 million in cash and common stock, according to a company press release.
The release noted Enovis will pay €700 million in cash and €100 million in Enovis common stock within 18 months of closing in exchange for the acquisition of LimaCorporate.
“We are confident the acquisition of Lima will enable us to build on our strong growth trajectory and global leadership in orthopedic solutions to create immediate and sustainable value for our patients, customers, employees and shareholders,” Matt Trerotola, chair and CEO of Enovis, said in the release. “With Lima’s complementary surgical solutions and customers, we will have the opportunity to enlarge our profitable recon portfolio and further expand our global presence. In addition, this acquisition will enable us to deliver enhanced financial results through significant cross-selling revenue growth opportunities and meaningful cost synergies.”
“Combining these two leading orthopedic businesses into one global platform creates an exciting opportunity to build on the strengths of both Enovis and Lima in developing patient-tailored devices and orthopedic products,” Massimo Calafiore, CEO of LimaCorporate, said in the release. “I look forward to working with the Enovis team to create even greater opportunities for growth and continued success.”
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