Corin Orthopaedics Holdings Limited completes the acquisition of the Tornier Hip and Knee business from Wright Medical Group N.V.
The acquisition will strengthen Corin’s position as technology leaders in the hip and knee joint replacement market, and accelerate its global expansion.
Orthoconnections member and client, Corin Orthopaedics Holdings Limited (Corin), a leading global manufacturer and supplier of orthopaedic devices, has announced the completion of the acquisition of the Tornier Hip and Knee business from Wright Medical Group N.V. (Wright).
Following discussions with the employee works council and health and safety committee in France, Wright accepted the binding offer from Corin and, on 21 October 2016, completed and closed the transaction.
Corin’s current innovative product portfolio includes a wide range of cutting edge brands designed to provide each patient with the optimal solution, utilising some of the most advanced technologies available in the world to enhance implant longevity and performance.
The Tornier Hip and Knee business which has been acquired consists of innovative hip and knee implants sold globally.
The clinically proven key brands include the Dynacup® and Meije Duo® hip implants and HLS KneeTec® and HLS Noetos® knee implants.
Corin, based in the UK, combine the spirit of local companies with the strength of a global, integrated organization; empowering and rewarding talented global teams to deliver excellence to customers.
Stefano Alfonsi, Chief Executive Officer of Corin, commented, “Having met many of the passionate employees of the Tornier Hip and Knee business over the past months, I am delighted to welcome into our global organisation the talented team based in Montbonnot, France, where we are committed to remain.
This key acquisition increases our presence in the global hip and knee market, one of the largest market segments in Orthopaedics and will provide us with significant market share in the innovative French market.
The combination of these market leading products with Corin’s cutting edge personalised technologies will improve the satisfaction of our patients throughout the world”
Alfonsi continued, “We are looking forward to working closely with Tornier’s thought leaders and surgeons, and trust we will be worthy custodians of the Tornier Hip and Knee legacy.”
For further information about Corin, please visit their website.