Enovis, an American medical devices manufacturer, announced its acquisition of LimaCorporate, a surgical implant and orthopedic support company from northern Italy, for approximately 800 million euros ($850 million). The transaction includes a cash payment of 700 million euros ($750 million) at the time of closing, with the remainder to be paid in shares of Enovis common stock.

LimaCorporate was established in 1945. The company is known for its 3D printing technology in the production of products that support bone growth and healing in shoulders, knees, ankles, and more. Its shoulder implants earned approval from the U.S. Food and Drug Administration just last year. 

Formerly known as Colifax, Enovis has garnered a substantial portion of its revenue through products that support patient rehabilitation and recovery, most of which are non-surgical devices. The acquisition is intended to expand the Enovis product line to include more surgical implants, especially those related to orthopedics.  

“We are confident the acquisition of Lima will enable us to build on our strong growth trajectory and global leadership in orthopedic solutions to create immediate and sustainable value for our patients, customers, employees and shareholders,” Matt Trerotola, chair and CEO of Enovis said in an announcement. “With Lima’s complementary surgical solutions and customers, we will have the opportunity to enlarge our profitable recon portfolio and further expand our global presence. In addition, this acquisition will enable us to deliver enhanced financial results through significant cross-selling revenue growth opportunities and meaningful cost synergies.”