The acquisition will serve to strengthen Corin’s position as global leaders in the hip and knee joint replacement market as the company continues its global expansion and innovation push.
Formed 19 years ago, Global Orthopaedics Technology (GOT) has an extensive range of orthopaedic implants including knee and hip products with enabling robotics and navigation technologies. GOT already has a significant footprint in Australia and an export business in the USA.
Commenting on the acquisition, Corin CEO, Stefano Alfonsi said the agreement will further strengthen Corin’s presence in the sophisticated and competitive Australian market.
“The combination of Corin and GOT capabilities creates a leading player in Australia with a stronger ability to fulfil the needs of hip and knee surgeons. I look forward to welcoming the talent GOT team into the Corin global family,” Mr Alfonsi said.
Chief Executive of GOT, Andrew Fox-Smith said the acquisition represented a “fantastic next step for both our people and our customers”.
“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.”
Corin’s R&D Hub in Australia is a key pillar of its global innovation capabilities and differentiated product offering. The combination with GOT is expected to provide significant scale to Corin’s operations in Australia – one of the world’s most attractive orthopaedics markets, as well as additional R&D expertise.