Enovis (formerly known as Colfax Corporation, parent company of DJO) completed the previously announced separation of its fabrication technology business, ESAB, from its MedTech business.
Enovis will stand as an entirely new public company solely focused on medical technology. The medical technology company's leadership team will include Matt Trerotola (CEO), Brady Shirley (COO) and Chris Hix (CFO) - all current Colfax executives.
In coming weeks, the DJO brand name also will transition to Enovis. Progressively, the company’s focus will include aggressive growth and expansion of its joint replacement business and extension into attractive adjacencies.
The company drove impressive, above-market growth across its reconstructive business in 2021. The acquisition of Mathys added an international scale that is ripe with cross-selling opportunities. Enovis plans to grow its reconstructive business to $1 billion in the next few years and is likely to make further acquisitions to speed its ascent.
“With the successful completion of the Separation, both ESAB and Enovis are well-positioned to create significant value for their associates, customers, shareholders and communities around the world,” said Matt Trerotola, Chief Executive Officer of Enovis. “We are thrilled about each company’s bright future that is fueled by strong global teams, powerful innovation engines and a commitment to continuous improvement.”