Enovis (NYSE: ENOV) announced today that it has completed its purchase of Novastep and its foot and ankle minimally invasive surgical (MIS) platform.
The financial terms of the deal were undisclosed. Novastep generates about $20 million in annual revenue.
“We are excited to welcome Novastep’s talented team to Enovis where we will work together to develop the next generation of foot and ankle solutions that improve patient outcomes,” Enovis CEO Matt Trerotola said in a news release posted yesterday.
Enovis first announced the acquisition in April. Acquiring Novastep strengthens the company’s position in the growing bunion segment with its MIS bunion system, Pecaplasty, which accelerates U.S. growth. In addition, Novastep’s portfolio of CE-marked forefoot and midfoot implants and outside-the-U.S. channels further the company’s international strategy.
The parent company of DJO, Enovis is one of the largest orthopedic device companies in the world. I…