US medical technology company Enovis Corporation is buying Italian implant manufacturer Lima Corporate for $800 million. Lima Corporate is a pioneer in 3D-printed titanium implants.
Enovis said $700 million of the purchase price will be paid in cash at closing. The remaining $100 million is to be settled in stock within 18 months.
Lima Corporate was founded in 1945 and is headquartered in San Daniele del Friuli, Italy. The company is particularly known for its innovations in additive manufacturing processes such as 3D printing of trabecular titanium.
According to Enovis, Lima most recently generated annual sales of about $300 million with strong growth. With the acquisition, Enovis aims to expand its presence in the lucrative joint implant business and develop additional sales channels.
For Lima, the acquisition by the publicly traded U.S. company means better access to global markets and investment opportunities, it says. The transaction is expected to close in early 2024.