The Personal Touch: Ortho Implants Challenger Corin Creates Its Own Value Pathway

Corin Orthopaedics Holdings was no slouch in the press and PR department, especially in the early years of the new millennium, when its financial and hip and knee product news churn was often hard to keep up with. That changed in late 2012, when a consortium of private equity investors, based mainly in Italy, set up the 2IL Orthopaedics vehicle to buy Corin for £30.5 million ($48 million). Corin then largely went under the radar and out of public view.

There was the odd news feed about big M&A (Tornier, among others), however, and the group kept growing its revenues – but did not disclose them. Global strategic marketing director of 18 months Elvio Gramignano says that the Cirencester, UK company has seen organic CAGR growth of 24% in its combined hip and knee businesses over the past three years. Speaking to In Vivo at the start of what Corin sees as a new chapter in its development, Gramignano predicts sales of £125 million in a global orthopedic implants market worth $17.5 billion in 2018