Most Admired Companies of the Year 2024
Business Fortune
The swift evolution of medical technology is reshaping the healthcare industry and impacting everyday life. This field is dedicated to the design and development of innovative medical devices and technologies that facilitate the diagnosis, monitoring, and treatment of various medical conditions. Breakthroughs in medical technology have dramatically transformed healthcare delivery, enhancing accessibility, efficacy, and affordability.
Enovis Corporation stands as a leader in medical technology, driven by an unrelenting commitment to excellence. At the heart of the Company’s success lies its unwavering dedication to its purpose of Creating Better Together™. This guiding principle empowers Enovis to deliver superior solutions for physicians, enhance patient outcomes, cultivate rewarding careers for employees, and foster strong relationships with its communities worldwide.
A conversation with the Enovis Team
Q. What is Enovis’ story? Why start a medical technology company that makes groundbreaking products, software, and solutions?
Bettering lives and improving patient outcomes is at the heart of what we do at Enovis. Enovis began as DJO Global, which was originally founded in 1978 by Mark Nordquist, a former Philadelphia Eagles football player. The company started by making knee braces and orthopedic products, but over the years, it has broadened its offerings to include various rehabilitation products, orthopedic braces, and surgical solutions for comprehensive orthopedic care.
In 2019, DJO Global was acquired by Colfax Corporation, an industrial company with roots in manufacturing. Colfax was looking to diversify its portfolio by entering the healthcare industry. In 2022, Colfax separated its industrial segment and rebranded its healthcare segment as Enovis (NYSE: ENOV), successfully shifting focus to medical technology.
Enovis is expanding in medical technology, focusing on joint replacement, enabling technologies, and rehabilitation and pain management for humans and animals.
With a global presence in over 30 countries, Enovis is positioned as a leader in the healthcare industry. It combines its historical expertise in orthopedic and rehabilitation solutions with new advances in surgical and therapeutic technologies. Enovis is a top medical technology company dedicated to improving lives by developing clinically differentiated solutions that enhance patient outcomes and restore motion for life.
The company partners with the brightest minds to advance smarter, personalized, and more effective care that impacts patients wherever they are on their pathway to health.
Q. How has Enovis Corporation grown since its founding? What were the most important factors that directly contributed to the company’s growth?
Since its founding, Enovis has grown significantly through strategic acquisitions, innovation, and a strong focus on medical technology.
Enovis has driven growth through innovation and research and development, along with over 20 acquisitions to create next-generation medical technologies. Key areas of innovation include:
Enabling technologies: Enovis is evolving to meet customer demand for solutions that utilize guided navigation and intraoperative insights to revolutionize surgical procedures.
Our ARVIS® Augmented Reality System offers surgical guidance directly in the surgeon’s view,and enables precise patient-specific alignment.
Advanced bracing and supports: Built on rehabilitation, the company has enhanced its bracing products with advanced, customizable options. Our products are lightweight, comfortable, easy to wear and apply, and trusted by doctors, elite athletes and patients from all walks of life.
Example: About 26 million Americans suffer knee pain from osteoarthritis, and 1 million total knee replacements are expected this year. Many individuals are navigating this situation using cautious approaches. Each patient has unique needs, and we offer various options. Earlier this year, Enovis introduced the ROAM™OA brace, our newest advancement in unloader technology.
Surgical implants Enovis develops modern, patient-focused solutions for total joint arthroplasty, leads best-in-class medical educationand started a thriving Foot and Ankle business, outperforming the industry.
The Enovis leadership team has effectively guided the company’s growth. Experienced executives in healthcare and business management have been crucial in making strategic decisions, such as acquisitions, market expansions, and innovations.
Q. What sets Enovis apart in the medical technology and manufacturing space? How does this difference benefit the company’s customers?
Enovis covers the full orthopedic care continuum, with offerings in performance, prevention, surgical, recovery and rehabilitation. The company partners with the brightest minds in health, powered by a culture of continuous improvement, to develop meaningful innovation. Enovis’ innovations enhance personalization, effectiveness, and operational efficiency for surgeons and healthcare professionals worldwide, positively impacting patients at every stage of their health journeys.
Enovis, with brands like DonJoy®, Aircast®, AltiVate®, EMPOWR™, and MotionMD®, has established itself as a global leader in medtech, addressing major challenges in healthcare. The company’s portfolio includes Enovis Surgical, Foot & Ankle, Footcare Solutions, Bracing & Supports, Regeneration, Healthcare Solutions, Recovery Sciences, and Companion Animal Health.
Enovis fosters a culture of continuous improvement and innovation, employing over 7,000 people across more than 30 facilities worldwide. The company provides over 1,000 products and has more than 1,200 patents, supporting active lifestyles in orthopedics and other fields with its wide range of technologies.
Q. What were some of the most memorable challenges the team at Enovis have overcome? How did the company learn from these challenges?
Teams at Enovis likely encounter challenges similar to those in the medical technology industry. Here are a few that we’ve successfully navigated by turning challenges into opportunities:
Rebranding to Enovis
Rebranding to Enovis in 2022 was a significant change, both operationally and strategically. Rebranding a long-established company requires a smooth transition in marketing, communication, internal culture, and external partnerships. The successful execution of this transition helped reposition the company for growth while staying true to its heritage.
Navigating the COVID-19 Pandemic
The global COVID-19 pandemic presented unprecedented challenges, particularly in the healthcare sector. For Enovis, this included supply chain disruptions, adapting to new healthcare needs, and ensuring the safety of employees.
Enovis successfully adapted to the challenges of COVID-19, supporting healthcare providers in delivering patient care during a difficult and uncertain period.
By turning challenges into opportunities, Enovis expanded its global presence and became a key player in the international medical technology industry.
Q. What are Enovis’ plans for the future?
Enovis has set ambitious plans for its future, aiming to continue its transformation into a global leader in medical technology by focusing on innovation, worldwide expansion, and patient-centered care.
Enovis’ future plans revolve around innovation in medical technologies, expanding its presence in global markets, and deepening its focus on patient-centered care. By focusing on these strategic areas, the company is positioning itself for long-term success and leadership in the global medical technology industry.
Meet Enovis’ Chair and CEO
Matthew L. Trerotola is the Chair and CEO of Enovis Corporation. Mr. Trerotola has spent most of his career in various roles at DuPont, Danaher Corporation, and McKinsey & Company. Before joining Enovis (formerly Colfax) as a director in July 2015, Mr. Trerotola was an executive vice president at DuPont. At DuPont, he managed $6.3 billion in revenue for safety, protection, and electronic materials and oversaw corporate responsibility in Asia. From 2007 to 2013, he held various leadership roles at Danaher, including Vice President and Group Executive for the $2.5 billion life sciences platform. Before that, he progressed from President of Videojet, a subsidiary of Danaher, to Group Executive for product identification.
In these roles, he strengthened talent, greatly accelerated organic growth, improved profitability, and made strategic acquisitions. Mr. Trerotola earned a Bachelor of Science in chemical engineering from the University of Virginia in 1989 and an MBA from Harvard Business School in 1995. Mr. Trerotola currently serves on the board of directors of AptarGroup, Inc. (NYSE: ATR).