Corin enters the orthopaedic robotics market announcing agreement to acquire US surgical robotic leader OMNI

Cirencester, UK 6 March 2019 – UK International orthopaedic company Corin Group (“Corin”), backed by the Permira funds, has signed a binding agreement for the acquisition of US-based OMNI Orthopaedics Inc. (“OMNI”), a pioneer in robotic-assisted total knee replacement.

It is further evidence of Permira and their co-investors’ determination to accelerate Corin’s strong organic growth with a focussed M&A strategy.

Founded in 1999 by a team of medical device engineers, OMNI is now at the forefront of robotic-assisted knee replacement. Their OMNIBotics® is a unique imageless total knee replacement solution which combines a robotic cutting guide with the world’s first robotic tool to measure ligament function. The system allows tailoring of the implant positioning to each individual patient, resulting in less patient pain and faster rehabilitationi.

Corin’s strategy is to revolutionise orthopaedics by gaining, understanding and sharing insight at every stage of the joint replacement experience and delivering clinically proven implants which are optimised by unique procedural technologies. OMNIBotics®, combined with APEX knee replacement, accelerates Corin’s strategy.

Corin’s CEO Stefano Alfonsi said:

“We are delighted to welcome the innovative and talented OMNI team into the Corin global family. We look forward to working together as a combined organisation to further develop our presence in the world’s largest market – the United States. With the combination of Corin’s unique Optimised Positioning System (OPS™) for the hip and the OMNIBotics® platform for the knee, Corin is now uniquely positioned to address functional patient-specific joint replacement.”

OMNI’s CEO Rick Epstein added:

“It is the perfect time to be part of a larger organisation that shares our dedication to improving the lives of individual patients through technological innovation. We are thrilled to be joining Corin to maximise the potential of our robotic solutions, adding another unique technology to their ecosystem”

Henry Minello, Principal in the Healthcare team of Permira, commented:

“The US market for robotics in orthopaedics is growing at a very rapid pace, and with the addition of OMNI’s technologies, we expect Corin to remain at the forefront of development in robotics and computer assisted surgery. We are excited about the potential to scale OMNI’s highly innovative products in the US and into other geographies where Corin operates.  We are very pleased to support Corin’s management to bring these life changing technologies into new markets.  OMNI will also strengthen Corin’s footprint in the US, an exciting market experiencing strong technology adoption.”

Corin is creating a connected digital ecosystem that combines biomechanical, physiological and logistical information to generate insight; this ecosystem will empower patients throughout their treatment journey and support surgeons to improve patient outcomes and maximise value for the healthcare system. This is Connected Orthopaedic Insight.

For more information visit www.coringroup.com

KPMG LLP (financial and tax), Barclays Bank PLC (strategic advisory) and Skadden, Arps, Slate, Meagher & Flom LLP (legal) provided advisory services to Corin in support of the transaction. Piper Jaffray & Co. acted as financial advisor to OMNI and Foley Hoag LLP acted as legal advisor to OMNI.

The transaction is expected to close by early March 2019.

Media Contacts:

For Corin:

Brian Lambton, Global Professional Education Manager
+ 44 (0) 1285 884 340
+ 44 (0) 7875 763 203

David Key (Lucent Communication)
+44 (0) 7708 603 697

For Permira:

Denise Gallagher, Head of Marketing
+44 (0) 207 632 1137

James Olley (Montfort Communications)
+44 (0) 203 770 7909

About Corin 
Headquartered in Cirencester, UK, Corin is an international orthopaedic company with a direct presence in a majority of the world’s orthopaedic markets and a track record of strong double-digit growth. Corin’s vision is to revolutionise orthopaedics by gaining, understanding and sharing insight at every stage of the arthroplasty experience. The unique combination of shared knowledge and clinically-proven implants delivers better outcomes and maximises healthcare value for patients, surgeons and healthcare providers.

Corin is creating a digital ecosystem that combines biomechanical, physiological and logistical information to generate insight, this ecosystem will empower patients throughout their treatment journey and support surgeons with world-class robotic technology and dynamic pre-operative planning to improve patient outcomes and maximise value for the healthcare system. This is Connected Orthopaedic Insight.

About OMNI

OMNI’s proprietary robotic platform, OMNIBotics®, allows surgeons to conduct patient-specific total knee surgery designed to enhance patient satisfaction and reduce hospital costs. In addition, OMNI designs, engineers, manufactures and distributes a wide range of proprietary hip and knee implants and is focused on providing cutting edge technologies to transform outcomes in joint replacement surgery and enhance a surgeon’s ability to help patients live active and pain-free lives.

About Permira

Permira is a global investment firm. Founded in 1985, the firm advises funds with a total committed capital of approximately US$38.5bn (€33bn) and makes long-term investments, including majority control investments as well as strategic minority investments, in companies with the objective of transforming their performance and driving sustainable growth. Over more than three decades, the Permira funds have made over 250 private equity investments in five key sectors: Consumer, Financial Services, Healthcare, Industrials and Technology.

For more information visit www.permira.com

About Peter Coffaro 510 Articles
Peter Coffaro is a growth-driven and strategic executive with over 25 years of progressive management success in the medical device industry. With a proven track record and recognized expertise, Peter has established himself as one of the top influencers in medical sales, as acknowledged by prestigious publications such as the World Journal of Orthopedics, Exponential Healthtech, and MedReps.com. Throughout his career, Peter has accumulated 10 years of combined sales management experience, excelling in various roles including Director, General Manager, Distributor, and Vice President. He has worked for industry-leading orthopedic companies such as Zimmer, DePuy, and Stryker, solidifying his deep knowledge and network within the field. Peter’s passion for innovation and emerging technologies led him to found OrthoFeed, an award-winning blog covering digital orthopedic news and emerging medical technologies. Through this platform, he stays at the forefront of the industry and contributes to the dissemination of valuable insights. Peter is a three-time Hall of Fame award winner at Johnson and Johnson, demonstrating his exceptional contributions and impact on the organization. His expertise extends to areas such as organizational development, business development, sales management, digital marketing, and professional education. Peter earned a B.S. degree in Biology and Chemistry from Northern Illinois University, further complementing his comprehensive understanding of the medical field. With his wealth of experience, strategic mindset, and dedication to advancing healthcare, Peter Coffaro is a valuable asset and leader in the medical device industry.

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