Acquisition will expand DJO’s fast-growing reconstructive business outside of the U.S., strengthen innovation pipeline and broaden product portfolio.
Dallas, TX (June 8, 2021) – DJO, a subsidiary of Colfax Corporation and a leading global provider of medical technologies to get and keep people moving, today announced that Colfax has entered into a definitive agreement to expand DJO’s successful reconstructive business and acquire Mathys AG Bettlach, a Switzerland-based company that develops and distributes innovative products for artificial joint replacement, synthetic bone graft solutions, and sports medicine. The transaction is expected to close in the third quarter of 2021, subject to receipt of applicable regulatory approvals and the satisfaction of other closing conditions.
The addition of Mathys will add a successful channel outside of the U.S. for DJO’s joint replacement products, including the clinically proven AltiVate Reverse® shoulder replacement system,1 EMPOWR™ Hip and Knee Systems, and its foot & ankle solutions. The acquisition is also expected to strengthen DJO’s patient-focused innovation pipeline and broaden its reconstructive portfolio with the complementary addition of many clinically proven surgical solutions from Mathys,2,3 including their RM Pressfit vitamys Monobloc acetabular cup.
“We are very pleased by this opportunity to enlarge our successful reconstructive product portfolio with Mathys’ complementary surgical solutions and customer base, and even more excited about our ability to quickly advance our collective orthopedic leadership outside of the United States,” said Brady Shirley, CEO of DJO. “Mathys’ differentiated products, deep expertise and talented global team will help us accelerate our strategic imperative of delivering superior patient outcomes around the world.”
Founded in 1946 and driven by the preservation of mobility, Mathys is an international orthopedics leader with production sites in Switzerland and Germany along with sales and service subsidiaries in Europe and Asia. The two businesses look forward to integrating their technology and capabilities for increased efficiencies, improved clinical outcomes and optimized marketing opportunities.
“Combining these two leading orthopedic businesses into one global platform creates an exciting opportunity to build on the strengths of both Mathys and DJO in developing and delivering the next generation of orthopedic innovations,” said Dr. Benjamin Reinmann, CEO of Mathys. “I believe that our employees, customers and their patients will benefit from this combination which will create even greater opportunities for growth and continued success.”
For more information, please visit www.djoglobal.com/mathys.
DJO, a subsidiary of Colfax Corporation, is a leading developer and distributor of high-quality medical devices that provide proven solutions for musculoskeletal health, joint reconstruction, vascular health, and pain management. The Company’s extensive range of products and integrated technologies address the orthopedic continuum of care from performance and mobility to surgical intervention and post-operative rehabilitation; enabling people around the world to regain or maintain their natural motion. For additional information about DJO, please visit www.DJOGlobal.com.
- Cuff et al. Reverse shoulder arthroplasty for the treatment of rotator cuff deficiency: a concise follow-up, at a minimum of 10 years, of previous reports. Journal of Bone and Joint Surgery. 2017
- Ihle, M., et al., The results of the titanium-coated RM acetabular component at 20 years: a long-term follow-up of an uncemented primary total hip replacement. J Bone Joint Surg Br, 2008. 90(10): p. 1284-90.
- Pakvis, D.B., L.;van Hellemondt, G.;Spruit, M., A cementless elastic monoblock socket in young patients: a ten to 18-year clinical and radiological follow-up. Int Orthop, 2011. 35(10): p. 1445-51.
CAUTIONARY NOTE CONCERNING FORWARD LOOKING STATEMENTS
This press release may contain 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 concerning DJO’s plans, objectives, expectations and intentions, including the expected timing for the completion of, and expected benefits from, DJO’s acquisition of Mathys AG Bettlach, and other statements that are not historical or current fact. Forward-looking statements are based on DJO’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 DJO’s results to differ materially from current expectations include, but are not limited to, risks and uncertainties related to the parties’ efforts to comply with and satisfy applicable regulatory approvals and closing conditions related to the acquisition, risks related to the impact of the COVID-19 global pandemic, including actions by governments, businesses and individuals in response to the situation, such as the scope and duration of the outbreak, the nature and effectiveness of government actions and restrictive measures implemented in response, material delays and cancellations of medical procedures, supply chain disruptions, the impact on creditworthiness and financial viability of customers, and other impacts on DJO’s business and ability to execute business continuity plans, and the other factors detailed in Colfax’s reports filed with the U.S. Securities and Exchange Commission (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 Colfax’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. DJO disclaims any duty to update the information herein.
SOURCE: DJO, 8th June 2021