Enovis Announces Acquisition Of LimaCorporate - Quick Facts

(RTTNews) - Enovis Corp. (ENOV) announced a definitive agreement to acquire LimaCorporate S.p.A., a global orthopedic company focused on restoring motion through an portfolio of implant solutions. The deal has an enterprise value of approximately 800 million euros, consisting of a 700 million euros cash payment at closing and 100 million euros in shares of Enovis common stock.

Enovis expects Lima to generate sales of $290-$300 million and $70-$75 million of adjusted EBITDA in 2024. The transaction is expected to be completed in early 2024.

Enovis said there is no change to previously announced 2023 full-year guidance. The company expects the acquisition to be neutral to slightly accretive to 2024 adjusted earnings per share and accretive in 2025 and beyond.