Skip navigation

Gloucestershire Business News

Specialist engineering firm in takeover of Australian rival

A specialist orthopaedic implants firm has gotten a foot into the potentially lucrative Australian market following a takeover deal.

Cirencester, UK Corin, has bought Global Orthopaedic Technology Pty Ltd ("GOT"), the largest Australian-based implant designer and manufacturer.

The deal is backed by the Permira Funds and said to be "a testament to Corin's accelerated global expansion and focus on innovation".

Stefano Alfonsi, chief executive officer of Corin, said, "This agreement will further strengthen our presence in the sophisticated and competitive Australian market.

"The combination of Corin and GOT capabilities creates a leading player in Australia with stronger ability to fulfil the needs of hip and knee surgeons."

Andrew Fox-Smith, chief executive officer for GOT, said: "Our acquisition by Corin represents a fantastic next step for both our people and our customers.

"Corin has an excellent track record in the total joint replacement market and their dynamic and innovative culture is a natural fit to how we have been operating over the last four years.

"We're very excited about what the combined business can achieve, not only here in Australia but also via faster expansion internationally of GOT's Australian developed product portfolio."

According to Corin combination with GOT provides significant scale to Corin's operations in Australia - one of the world's most attractive orthopaedics markets, as well as additional R&D expertise.

Global Orthopaedics Technology formed 19 years ago, offers an extensive range of orthopaedic implants including knee and hip products with enabling robotics and navigation technologies.

The company has a significant Australian footprint and an export business in the USA.

Silvia Oteri, Partner with Permira, said, "The Permira funds backed Corin and its outstanding management team as it is a strong and ambitious leader in its market with a clear vision to revolutionise orthopaedics.

"The GOT acquisition represents an important step forward in building a leading and innovative successful platform in the space."

Subscribe to Punchline

Related Articles

Forest Green Rovers appoints new chief executive Image

Forest Green Rovers appoints new chief executive

Henry Staelens becomes youngest CEO in professional football.

Shurdington Road Cheltenham to close for two weeks Image

Shurdington Road Cheltenham to close for two weeks

Drivers hoping to leave the end of the Bath Road in Cheltenham and make their way along the Shurdington Road with ease through early November may have a challenge.

Rural Business Awards won by county firms Image

Rural Business Awards won by county firms

A quartet of awards have been brought back to Gloucestershire from the Rural Business Awards South West.

Businesses invited to train with top rugby stars Image

Businesses invited to train with top rugby stars

Team-i Training presents a rugby inspired masterclass for business.

Copyright 2018 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.