Enovis Corporation · NYSE:ENOV
Enovis — Merger or Acquisition (September 2023)
14 slides from Enovis's merger presentation, Sep 25, 2023
Slide 1: Advancing strategy through LimaCorporate acquisition
Exhibit 99.2 Advancing strategy through LimaCorporate acquisition September 25, 2023
Slide 2: Forward-looking Statements and Non-GAAP Financial Information
Forward-looking Statements Non-GAAP Financial Information This presentation includes forward-looking statements, including forward-looking Enovis has provided in this presentation certain financial information that has not been prepared statements within the meaning of the U.S. Private Securities Li
Slide 3: Extending Enovis' Leadership Position in Attractive Global Reconstructive Market
Extending Enovis’ Leadership Position in Attractive Global Reconstructive Market • Definitive agreement to acquire LimaCorporate, a European orthopedics leader with robust product offerings and capabilities for €800m; transaction to close in early 2024 • Creates a ~$1B global reconstructive business
Slide 4: LimaCorporate Business Overview
LimaCorporate Business Overview REVENUE GEOGRAPHIC MIX ▪ HSD growth history, ROW Fixation & Other 2 DD CAGR since 2021 APAC Knee US ▪ Accretive profitability, >20% Extremities 3 adjusted EBITDA margins ~$0.3B 1 TTM ▪ Strong innovation engine and Europe leading 3D printing capabilities Hip▪ Highly au
Slide 5: Enovis: A High-Value MedTech Growth Company
Enovis: A High-Value MedTech Growth Company ENOVIS SALES PERFORMANCE & GOALS DD New Recon Growth ~$2B Aggressively Grow and Scale MSD Aggressively $1.5B Recon P&R Growth grow and Recon expand Recon Improve and Extend P&R P&R shape P&R leadership HSD Organic Revenue Growth 1 2021 2024 Future Secures
Slide 6: Successful M&A Track Record
Successful M&A Track Record ‘20-2021 2022 2023 2024 2024: Scaling Global Recon 2023: Scaling Foot & Ankle to $100m run rate 2022: Advancing enabling technology capabilities STAR® ANKLE 2020-2021: Globalized Recon with Mathys, established Foot & Ankle business Accelerating Recon with attractive growt
Slide 7: Fully Aligned with Acquisition Criteria
Fully Aligned with Acquisition Criteria Fuels Improves Accelerates Growth Gross Margin Strategy Maintains strong extremity mix Enovis margins improve to Expanding High Growth and and accelerates innovation >60% with Recon >70% Margin Recon Platform Expands Creates Scale Market Reach $1B Global Recon
Slide 8: Combination Accelerates Global Recon Scale & Expands Margins
Combination Accelerates Global Recon Scale & Expands Margins REVENUE GEOGRAPHIC MIX ADJUSTED EBITDA MARGIN ~$2B $1.7B 47% +~120bps Recon 37% Int’l 32% Int’l 40% US P&R US 2023 2023 2023 2023 2023 2023 1 Enovis Combined 1 1 Enovis Combined Enovis Combined Creates >$1B high-growth global Recon player
Slide 9: Creates ~$1B Recon Leader With Attractive Mix and Strong Innovation
Creates ~$1B Recon Leader With Attractive Mix and Strong Innovation Combined Revenue & Geographic Mix Growth Opportunity Extremities • Drive DD organic growth from winning Foot & Ankle innovation and strong channel Other • Continue to lead in Shoulder and rapidly gain Int’l Shoulder share in Hip/Kne
Slide 10: Significant Synergy Opportunities
Significant Synergy Opportunities Cross-Selling Innovation Meaningful growth • Sell EMPOWR® and AltiVate® into LimaCorporate • Accelerate innovation / differentiation with synergy channels scaled global R&D beginning in • Sell revision solutions into Mathys and Enovis US • Extend 3D printing and add
Slide 11: Acquisition Accelerates Enovis Growth Strategy
Acquisition Accelerates Enovis Growth Strategy Accelerates Maintains Recon progress against mix & improves strategic goals growth profile Attractive value Strengthens R&D creation and Operational opportunity Capabilities Driving scale across an enhanced Recon platform © 2023 Enovis Corporation 11
Slide 12: Transaction Summary
Transaction Summary • €700m upfront cash at closing • €100m in shares of Enovis common stock (expected to be issued within 18 months Key Deal Terms following the closing of the acquisition) • 2024 estimated revenue of $290m to $300m LimaCorporate • Strong forward revenue growth of HSD/DD Key Financi
Slide 13: Extending Enovis' Leadership Position in Attractive Global Reconstructive Market
Extending Enovis’ Leadership Position in Attractive Global Reconstructive Market • Definitive agreement to acquire LimaCorporate, a European orthopedics leader with robust product offerings and capabilities for €800m; transaction to close in early 2024 • Creates a ~$1B global reconstructive business
Slide 14: enovis. Creating Better Together
enovis. Creating Better Together™