Aussie’s Global Orthopaedic Grows

Global Orthopaedic Technology is the largest Australian-owned orthopedic implant designer and manufacturer. On June 23, 2014, The Riverside Company announced the acquisition of the manufacturer.

Andrew Fox-Smith, a former international group president with Stryker Corporation will serve as the new CEO of the company. Duncan Lilley, who will serve as COO, has held senior roles with British Standards Institute and SAI Global.

Global was established in 1999 by Mike Ribot and Steve Banks who will continue to be involved with Global as shareholders and senior managers, providing knowledge and experience in the Australian orthopedic industry. The company states on its website that the impetus for starting the company was to satisfy a growing desire for local design and manufacturing within orthopedics in Australia. Global’s initial strategy was to establish itself as a distributor of orthopedic implants, while using revenue to fund the commercialization of locally designed and manufactured products. The company says it has a significant footprint throughout Australia and developing influence in Asia, the U.S. and Europe.

The company manufactures knee, hip, spine, orthobiologic and shoulder products.

The Riverside Company is a global private equity firm focused on acquiring and investing in growing businesses valued at up to $250 million. Since its founding in 1988, Riverside has invested in more than 340 transactions. The firm’s international portfolio includes more than 70 companies in the healthcare space.

Babson Capital and Commonwealth Bank of Australia provided financing for the transaction. Jones Day, Deloitte, KPMG and AT Kearney advised Riverside on the deal.