Welcome to our dedicated page for Enovis Corporation news (Ticker: ENOV), a resource for investors and traders seeking the latest updates and insights on Enovis Corporation stock.
Enovis Corporation (NYSE: ENOV) is a prominent player in the medical technology industry, dedicated to developing innovative solutions that improve patient outcomes and streamline healthcare workflows. Headquartered in Wilmington, DE, Enovis focuses on manufacturing and distributing high-quality medical devices used in reconstructive surgery, rehabilitation, pain management, and physical therapy.
The company operates through two primary segments: Prevention & Recovery (P&R) and Reconstructive (Recon). The Prevention & Recovery segment, which generates the bulk of Enovis' revenue, is known for its extensive range of products aimed at injury prevention and patient rehabilitation. The Reconstructive segment offers advanced solutions for joint reconstruction surgeries, including knee, hip, and shoulder replacements.
Recent Achievements and Projects:
- Enovis recently announced the offering of $400 million in Convertible Senior Notes due 2028, aimed at financing the acquisition of LimaCorporate S.p.A., enhancing their global footprint in orthopedic solutions.
- The company's third-quarter 2023 financial results showcased a stable performance with revenues between $414 and $418 million, reflecting an 8-9% increase from the previous year.
- Enovis continues to innovate, showcasing new technologies such as the Evolve34™ Lapidus Correction System and the EF1 External Fixation product line at the ACFAS annual meeting.
Enovis is committed to a culture of continuous improvement, leveraging its global talent and innovative capabilities to develop products that drive measurable patient outcomes. The company's dedication to excellence is evident in its comprehensive portfolio, which includes the DJO, LLC subsidiary known for its contributions to the foot and ankle care continuum.
In addition to its robust product development pipeline, Enovis is actively engaged in strategic acquisitions to enhance its market position and product offerings. The company's financial outlook for 2024 is positive, with expected revenues approximating $2.06-2.16 billion and adjusted EBITDA forecasted to be $368-383 million.
For more information, visit the Enovis Corporation website.
Enovis Corporation (NYSE: ENOV) will host an investor conference call and live webcast on May 4, 2023, at 8:30 a.m. Eastern Time to discuss its first quarter 2023 financial results. An earnings press release will be issued earlier that morning, with a presentation accessible on the Enovis website in the 'Investors' section.
Participants can join the live webcast through the company's website. For those wishing to join the call, U.S. callers can dial (833) 630-1956, while international participants can call (412) 317-1837. A replay of the call will also be available on the website later the same day.
Enovis focuses on innovating medical technology solutions that improve patient outcomes and transform workflows in orthopedics.
Enovis Corporation (NYSE: ENOV) has announced its acquisition of Novastep, a leader in Minimally Invasive Surgery (MIS) for foot and ankle solutions, for approximately $20 million in annual revenues. This strategic move is aimed at enhancing Enovis' portfolio and global presence in the $3 billion foot and ankle market. The acquisition includes Novastep's innovative Pecaplasty bunion system, which offers superior patient outcomes by promoting quicker recovery and reduced discomfort. The transaction, subject to regulatory approval, is expected to finalize in Q2 2023, further solidifying Enovis' commitment to improving patient care and driving business growth.
Enovis Corporation (NYSE: ENOV) announced the transition of CEO Matt Trerotola to Chair of the Board, effective after the 2023 Annual Meeting on May 16. Trerotola succeeds Mitchell P. Rales, who will retire following his decision not to seek re-election. Sharon Wienbar will take on the role of Lead Independent Director. Trerotola expressed commitment to continuing the momentum achieved since the company's spin-off, aiming for sustainable high-single-digit organic growth and enhanced core margins. The Board will reduce its size from 11 to 10 directors, and Angela Lalor will chair the Compensation and Human Capital Management Committee.
Enovis Corporation (NYSE: ENOV) announced its participation in the AAOS Annual Meeting from March 7-11, 2023, showcasing innovative medical technologies and launching the ‘Better Is’ corporate campaign focused on collaboration with healthcare professionals. CEO Matt Trerotola emphasized the importance of partnerships in driving medtech advancements. Key products include the EMPOWR Revision Knee™, AltiVate Reverse Shoulder System, and augmented reality surgical guidance systems. Enovis will host several educational events during the convention, highlighting its commitment to improving patient outcomes through innovative solutions.
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