Colfax, parent company to DJO, entered into a definitive agreement to expand DJO’s reconstructive business and acquire Mathys, a Switzerland-based company that develops and distributes products for artificial joint replacement, synthetic bone graft solutions and sports medicine. The transaction is expected to close in the third quarter of 2021.
The total acquisition consideration of approximately $285 million was financed through the issuance of 6,544,522 shares of Colfax common stock to the former owners of Mathys.
The addition of Mathys will add a channel outside of the U.S. for DJO’s joint replacement products, including the AltiVate Reverse® shoulder replacement, EMPOWR™ Hip and Knee Systems, and foot & ankle products. We estimate the deal has the potential to nearly double DJO's international revenue.
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, including their RM Pressfit vitamys Monobloc acetabular cup.
In 1Q21, Colfax announced its intention to split into two companies. Since 2020, Colfax/DJO have acquired the STAR Ankle and certain finger arthroplasty systems from Stryker as well as foot/ankle players Trilliant Surgical and MedShape.