Enovis Completes Acquisition of Insight Medical Systems

Transaction Expands Enabling Technologies Platform for Enovis’ Reconstructive Portfolio with Augmented Reality Surgical Guidance Technology

WILMINGTON, DE, July 06, 2022 (GLOBE NEWSWIRE) — Enovis™ Corporation (NYSE: ENOV), an innovation-driven medical technology growth company, announced that it has acquired Insight Medical Systems, a technology company dedicated to reimagining orthopedic surgical guidance. Insight’s flagship solution, ARVIS®, is the only FDA-cleared augmented reality solution precisely engineered for the specific needs of hip and knee replacement surgery. Financial terms of the transaction were not disclosed.

“We are excited to welcome Insight’s talented team to our Enovis family where we will work together to improve patient outcomes through the use of next generation augmented reality surgical guidance in orthopedic surgery,” said Matt Trerotola, CEO of Enovis. “Adding Insight’s technology to our rapidly growing Surgical business advances our enabling technologies platform with innovation tailored to today’s healthcare economics and especially the ASC.”

Since Enovis’ initial investment in Insight Medical Systems in 2020 and a follow-on funding round in 2021, the company received 510(k) FDA clearance for the ARVIS® Augmented Reality System and successfully completed over 200 cases in the U.S.

“ARVIS delivers real-time, hands-free surgical guidance at the point of care and is designed to generate measurably better patient outcomes in a streamlined, space-conserving and cost-effective manner compared to traditional robotic offerings,” explains Brady Shirley, COO of Enovis. “Simply put, the ARVIS Augmented Reality System represents the next era of orthopedic technology, and we look forward to expanding its features and reach while integrating additional joint replacement surgery capabilities in the future.”

ARVIS will be commercially available in Q3 of 2022 and the Insight™ team will become part of the Enovis Surgical organization (previously DJO Surgical) with the goal of driving further growth and expansion of the company’s orthopedic enabling technologies platform.

ABOUT ENOVIS™

Enovis Corporation (NYSE: ENOV) is an innovation-driven medical technology growth company dedicated to developing clinically differentiated solutions that generate measurably better patient outcomes and transform workflows. Powered by a culture of continuous improvement, global talent and innovation, the Company’s extensive range of products, services and integrated technologies fuels active lifestyles in orthopedics and beyond. For more information about Enovis, please visit www.enovis.com.

Contacts:

Derek Leckow
Vice President, Investor Relations
Enovis Corporation
+1-302-252-9159
investorrelations@enovis.com

Katie Sweet
Vice President, Communications
Enovis Corporation
Katie.sweet@enovis.com

About Peter Coffaro 448 Articles
A growth-driven and strategic executive, Peter Coffaro commands more than 20 years of progressive management success within the orthopedic industry. Recognized by MedReps.com and the World Journal of Orthopedics as one of the top medical sales influencers in the industry; he has 10 years of combined sales management experience and has held positions as a Director, General Manager, Distributor and Vice President. Peter has worked for some of the top orthopedic companies in the world - Zimmer, DePuy and Stryker. He is also the founder of OrthoFeed: a popular blog that covers digital orthopedic news and emerging medical technologies. Peter is a three-time Hall of Fame award winner at Johnson and Johnson and has an extensive background in organizational development, business development, sales management, digital marketing and professional education. Peter holds a B.S. degree in Biology from Northern Illinois University.

Be the first to comment

Leave a Reply

Your email address will not be published.


*


This site uses Akismet to reduce spam. Learn how your comment data is processed.