Enovis
| Company type | Public |
|---|---|
| Industry | Medical technology, Orthopedics |
| Predecessor | Colfax Corporation |
| Founded | 1995 |
| Founder | Mitchell Rales, Steven Rales |
| Headquarters | Annapolis Junction , United States |
Area served | Worldwide |
| Products | Medical devices |
Number of employees | 5000+ |
Enovis Corporation operates within the medical technology sector, with a primary focus on orthopedics. The company was originally established in 1995 by siblings Mitchell and Steven Rales under the name Colfax Corporation. Its corporate headquarters are situated in Wilmington, Delaware, and it is publicly listed on the NYSE under the symbol ENOV. Enovis employs a workforce exceeding 5,000 individuals distributed across 12 locations worldwide.
History
The company began in 1995 in Richmond, Virginia when Steven and Mitchell Rales founded Colfax. By 1997, it had acquired nearly 93% ownership of IMO's shares, concentrating its business on power transmission and fluid handling after selling off non-essential divisions.
A major expansion occurred in January 2012 when Colfax purchased Charter International, which owned welding and cutting enterprise ESAB as well as air and gas handling company Howden, for $2.4 billion. From 2012 through 2019, the firm completed more than 25 acquisitions to bolster its industrial segments: fluid handling, fabrication technologies (ESAB), and air & gas handling (Howden).
In December 2017, Colfax sold its fluid handling division for $860 million. The following year, in November 2018, it entered the medical device market by acquiring DJO Global from The Blackstone Group for $3.15 billion. In May 2019, Howden Turbo was sold to KPS Capital Partners for $1.8 billion.
March 2021 marked a strategic pivot for Colfax to concentrate exclusively on medical technology by spinning off its ESAB industrial segment. This spin-off finalized in April 2022, coinciding with Colfax's rebranding as Enovis. This transition signified a shift from an industrial conglomerate to a dedicated medical technology organization, following prior divestitures of fluid handling and air & gas businesses along with the acquisition of DJO Global. During this period, the headquarters relocated to Annapolis Junction, Maryland.
In September 2023, Enovis reached an agreement to acquire Villanova di San Daniele del Friuli-based medical device manufacturer LimaCorporate for roughly €800 million. The transaction closed on January 3, 2024.