Riverside acquires Australian orthopaedic implant company
Private equity firm The Riverside Company has acquired Global Orthopaedic Technologies, an Australian manufacturer and distributor of orthopaedic implants.
With two research, design and manufacturing facilities in Bella Vista and Seven Hills in New South Wales, Global supplies implants and instrumentation for hip, knee, shoulder and spine surgeries, along with related orthobiologics.
Riverside has partnered on the transaction with Andrew Fox-Smith and Duncan Lilley. Fox-Smith is a former group president - international with Stryker Corporation, and has more than two decades of experience in the global orthopaedic market. Fox-Smith will serve as CEO. Lilley has most recently held senior roles with British Standards Institution (BSI) and SAI Global and will serve as COO.
Global was established in 1999 by Mike Ribot and Steve Banks and has grown to become the largest Australia-owned orthopaedic implant designer and manufacturer. Ribot and Banks will continue to be involved with Global as shareholders and senior managers.
“Global has an enviable product portfolio and a history of innovation,” says Riverside partner Simon Feiglin. “They’re a growing company in an expanding market thanks to offering products and services that are valued by surgeons and relied upon by patients in Australia and increasingly around the world.”
“We are delighted to partner with Riverside and Andrew Fox-Smith, who bring their vast international experience to Global, enabling us to develop new and exciting growth opportunities,” Ribot says. “When Steve and I started Global, it was with a vision to create a multinational orthopaedic business and this transaction is an important milestone in realising that vision.”
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