Orthopedic consolidation slowed significantly through 2024, even relative to the decelerating standard set in recent years. The market is on pace for just seven transactions in 2024 after seeing nearly 30 the year before. But some of the industry’s most acquisitive companies recently signaled their intent to be more active.
“We do have a very active deal pipeline. You will continue to see us be active. It’s always hard to predict exactly which deals will land, but we have a very strong balance sheet now and we’re going to put our balance sheet to work,” said Stryker CEO Kevin Lobo.
Our chart of the month shows the top 10 most acquisitive orthopedic companies from 2016 through September 2024. These companies made 92 transactions, accounting for 36% of all M&A during those years. About 40% of those purchases have come since 2020, led by Enovis and OrthoPediatrics.
What are these companies buying? They are more focused on digital assets than the industry overall. Digital, trauma and spine round out the top three.
Transactions for technology assets account for 26% of the deals made by the top 10 companies, about 11% higher than its volume for the overall market. Spine deals have a commensurate decline when compared to its overall market volume.
Orthopedic consolidation slowed significantly through 2024, even relative to the decelerating standard set in recent years. The market is on pace for just seven transactions in 2024 after seeing nearly 30 the year before. But some of the industry's most acquisitive companies recently signaled their intent to be more active.
"We do have a...
Orthopedic consolidation slowed significantly through 2024, even relative to the decelerating standard set in recent years. The market is on pace for just seven transactions in 2024 after seeing nearly 30 the year before. But some of the industry’s most acquisitive companies recently signaled their intent to be more active.
“We do have a very active deal pipeline. You will continue to see us be active. It’s always hard to predict exactly which deals will land, but we have a very strong balance sheet now and we’re going to put our balance sheet to work,” said Stryker CEO Kevin Lobo.
Our chart of the month shows the top 10 most acquisitive orthopedic companies from 2016 through September 2024. These companies made 92 transactions, accounting for 36% of all M&A during those years. About 40% of those purchases have come since 2020, led by Enovis and OrthoPediatrics.
What are these companies buying? They are more focused on digital assets than the industry overall. Digital, trauma and spine round out the top three.
Transactions for technology assets account for 26% of the deals made by the top 10 companies, about 11% higher than its volume for the overall market. Spine deals have a commensurate decline when compared to its overall market volume.
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Mike Evers is a Senior Market Analyst and writer with over 15 years of experience in the medical industry, spanning cardiac rhythm management, ER coding and billing, and orthopedics. He joined ORTHOWORLD in 2018, where he provides market analysis and editorial coverage.
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