Enovis Corporation, an innovation-driven, medical technology growth company, today announced a definitive agreement to acquire Novastep, a subsidiary of Amplitude Surgical SA, and global developer of clinically proven foot and ankle solutions. The transaction is subject to customary closing conditions and regulatory approvals and is expected to close in the second quarter of 2023.
Novastep, a fast-growing business with about $20 million in annual revenues, is a leading player in Minimally Invasive Surgery (MIS) foot and ankle solutions. The company’s best-in-class MIS bunion system, Pecaplasty, serves a rapidly growing portion of the ~$0.9 billion global bunion segment. MIS bunion procedures have demonstrated significant improvement in patient outcomes and enable faster recovery with reduced scarring and pain.i Pecaplasty provides surgeons with predictable, accurate, and controlled implant placement.
In addition, Novastep’s portfolio of CE marked forefoot and midfoot implants and strong OUS channel will further strengthen Enovis’ global position in the $3+ billion global foot and ankle market.
“Adding Novastep to our growing Foot & Ankle business is an important step in the execution of our strategic priorities and a great example of our focus on MedTech innovation that drives growth while improving patient outcomes,” said Matt Trerotola, Chief Executive Officer of Enovis “We are excited to expand our portfolio of clinically differentiated foot and ankle solutions and accelerate our international strategy with Novastep’s market-leading innovation, and advanced technology.”
“We look forward to joining the Enovis team and developing the next generation of foot and ankle solutions that improve patient outcomes,” said Gregory Gledel, President and CEO of Novastep SAS. “Like Enovis, we are committed to working with healthcare professionals to drive the industry forward and together, I know we will make an even greater impact around the world.”
Source: Company Press Release
