Backed by the Permira Funds, UK-based international orthopedic company Corin Orthopaedic Holding Group Ltd. has agreed to acquire Australia-based Global Orthopaedic Technology (GOT) in a move that strengthens Corin’s presence in that part of the world.
The acquisition of GOT will provide scale to its operations in Australia, which is one of the world’s most attractive orthopedic markets. Corin’s R&D hub in Australia is a key part of its global innovation capabilities and differentiated product offering.
Global Orthopaedics Technology is a 19-year-old company that offers a range of orthopedic implants including knee and hip products with enabling robotics and navigation technologies. GOT has a significant Australian footprint and an expert business to the United States.
Permira is a global investment firm that advises private equity funds. The Permira funds have over 250 private equity investments in the Consumer, Technology, Industrial, Healthcare and Financial Services sectors.
OTW spoke with Elvio Gramignano, Corin’s Global Strategic Marketing Director, who commented that Corin is focusing on expanding in Australia because “Australia is a key market in orthopaedics and we have our R&D hub based in Sydney giving us a strong presence. But we are continually looking for ways to expand in this attractive and sophisticated market and Global Orthopaedic Technology (GOT) is an important part in helping us achieve this.”
Gramignano said, “The acquisition of Global Orthopaedic Technology increases our resources and our coverage enabling us to better serve and fulfil the needs of our customers and with GOTs strong R&D team it will also boost our product innovation. Following the acquisition, the business will rank third in the Australian hip arthroplasty market and in the top five for the Australian knee arthroplasty market.”
Gramignano explained, “We believe Corin and GOT complement each other well and will easily align to allow us to provide a strengthened experience to our customers. GOT is developing an antimicrobial surface structure which may provide an important innovative solution to one of the most unmet clinical needs in the orthopaedic market, periprosthetic joint infections. At Corin, we believe gaining, understanding and sharing insight is important at every stage of the arthroplasty experience to deliver the best outcomes to all, this is something that GOT resonates with and therefore together we will be able to better serve our customers through our increased innovation and resources.”
