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Amplitude Surgical signed a definitive agreement with Enovis for the sale of its whole Novastep business. Novastep is supported by subsidiaries in France and the United States, which are majority-owned by Amplitude Surgical.
The transaction is expected to close in 2Q23.
Novastep markets products for foot and ankle surgery, for instance Pecaplasty for bunion correction, the Centrolock guided transverse osteotomy system and a variety of screws, plates, staples and an external fixation device.
In its reporting of 4Q22 orthopedic sales, Amplitude leadership noted a “strategic review of Novastep’s foot and ankle activity” that occurred in late June 2022. The review’s goal was intended to maximize value creation for the company as a whole, and might eventually lead to the divestment of Novastep. One potential reason for the Novastep review could be Amplitude’s planned entry into robotics.
In the fiscal year ended June 30, 2022, the extremities business (ankle and foot) generated revenues of €17.7 million (~USD $19.2 million). Subject to adjustments, the sale is expected to generate proceeds for Amplitude in an amount of slightly over €68 million euros (~$74 million).
Going back to 2020, Enovis/DJO sought to expand its foot/ankle solutions with acquisitions of the STAR total ankle from Stryker, purchase of foot and ankle player Trilliant Surgical and also, MedShape.
Olivier Jallabert, Amplitude Surgical’s CEO, said, “The signing of this agreement for the sale of 100% of Novastep to Enovis will allow Amplitude Surgical to maximize the value creation of its historical activity while continuing its growth trajectory. We are delighted that a prestigious company such as Enovis, with whom we share the same values, can take over the development of Novastep, whose innovative solutions are unanimously recognized by the professional healthcare community.”
Sources: Enovis, Amplitude Surgical
Amplitude Surgical signed a definitive agreement with Enovis for the sale of its whole Novastep business. Novastep is supported by subsidiaries in France and the United States, which are majority-owned by Amplitude Surgical.
The transaction is expected to close in 2Q23.
Novastep markets products for foot and ankle surgery, for instance...
Amplitude Surgical signed a definitive agreement with Enovis for the sale of its whole Novastep business. Novastep is supported by subsidiaries in France and the United States, which are majority-owned by Amplitude Surgical.
The transaction is expected to close in 2Q23.
Novastep markets products for foot and ankle surgery, for instance Pecaplasty for bunion correction, the Centrolock guided transverse osteotomy system and a variety of screws, plates, staples and an external fixation device.
In its reporting of 4Q22 orthopedic sales, Amplitude leadership noted a “strategic review of Novastep’s foot and ankle activity” that occurred in late June 2022. The review’s goal was intended to maximize value creation for the company as a whole, and might eventually lead to the divestment of Novastep. One potential reason for the Novastep review could be Amplitude’s planned entry into robotics.
In the fiscal year ended June 30, 2022, the extremities business (ankle and foot) generated revenues of €17.7 million (~USD $19.2 million). Subject to adjustments, the sale is expected to generate proceeds for Amplitude in an amount of slightly over €68 million euros (~$74 million).
Going back to 2020, Enovis/DJO sought to expand its foot/ankle solutions with acquisitions of the STAR total ankle from Stryker, purchase of foot and ankle player Trilliant Surgical and also, MedShape.
Olivier Jallabert, Amplitude Surgical’s CEO, said, “The signing of this agreement for the sale of 100% of Novastep to Enovis will allow Amplitude Surgical to maximize the value creation of its historical activity while continuing its growth trajectory. We are delighted that a prestigious company such as Enovis, with whom we share the same values, can take over the development of Novastep, whose innovative solutions are unanimously recognized by the professional healthcare community.”
Sources: Enovis, Amplitude Surgical
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JV
Julie Vetalice is ORTHOWORLD's Editorial Assistant. She has covered the orthopedic industry for over 20 years, having joined the company in 1999.
