Lima Corporate

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LimaCorporate
Company typeMedical devices
Founded1945; 79 years ago (1945), in Friuli Venezia Giulia, Italy
FounderCarlo Leopoldo Lualdi
HeadquartersVillanova, San Daniele del Friuli, Italy
Key people
Massimo Calafiore (CEO)
Michele Marin (CFO)
ProductsMedical devices Reconstructive and custom-made orthopedic solutions
Owner
Websitewww.limacorporate.com

LimaCorporate is a medical device company[1] based in Italy whose range of products includes Large Joint Primary and Revision Implants, Extremities and Fixation Solutions and dedicated Patient-Specific Prosthesis Division.[1]

With over 1000 staff members and 3 production plants worldwide, it has established more than 25 direct subsidiaries in Europe, the US, Asia-Pacific, and Latin America. Combined with a network of distributors, LimaCorporate operates in nearly 50 countries.[2]

In 2021, the firm was the first to deliver 3D printing to a hospital setting.[3] Both Italian production plants of LimaCorporate have been certified ISO 14001 - Environmental Management Systems in compliance with environmental standards on pollution and energy efficiency.[4]

In September 2023, Enovis announced that it had reached a definitive agreement to acquire the company for approximately €800 million.[5] On January 3, 2024, it was reported that the purchase of LimaCorporate had been completed.[6]

History[edit]

Engineer and entrepreneur, Carlo Leopoldo Lualdi, LimaCorporate's founder, began producing surgical instruments in 1945.[7]

In 1953, Lualdi created the first helicopter prototype, relying solely on Italian ingenuity. Between then and the year 2000, Lima became one of the most important suppliers to the aerospace industry. Through the 1960s and 1980s, the core business expanded into the manufacturing of medical devices, specifically titanium orthopedic prostheses. In the 1990s, the company continued to focus on innovating orthopedics with the specific aim of broadening its presence on a global scale. In the year 2000, Lima made the decision to specialize exclusively in the production of orthopedic implants.[7]

In the early 2000s, LimaCorporate began developing Electron Beam Melting (EBM) technology, a form of additive manufacturing, to address the functional limitations of the coatings applied to traditional prosthetic implants.[7] In 2007, the company's first acetabular cup featuring TT, LimaCorporate's proprietary 3D printing technology, was developed and implanted for the first time in Italy.[7]

Lima later announced the completion of a Distribution Agreement with OrthAlign, Inc. for a tibial/femoral handheld navigation device and associated instrumentation to be supplied within the European Economic Area (EEA) and Switzerland (excluding Romania).[8]

In addition, the company announced the completion of an assets acquisition process with Zimmer Holdings Inc. on July 3, 2015. They acquired the Zimmer® Unicompartmental High Flex Knee (ZUK) and Biomet® elbow system for distribution within the European Economic Area (EEA), Switzerland and Japan as well as the Biomet® complete knee system for Denmark and Sweden.[9] The agreement was approved by the Japanese Fair Trade Commission at the end of the same year.[10]

In 2016, EQT, with Hansjörg Wyss as the co-investor, completed the acquisition process for a majority share of LimaCorporate.[11]

In 2018, LimaCorporate acquired TechMah Medical LLC, a medical device software company located in Tennessee (USA), to offer digital applications that complement their hardware portfolio.[12]

In 2019, LimaCorporate and the Hospital for Special Surgery (HSS) announced the foundation of the first additive manufacturing 3D printing facility for custom complex implants in a hospital setting.[13] LimaCorporate announced the completion of a distribution agreement with G21 S.r.l. to supply cement spacer molds for the shoulder, hip and knee as well as antibiotic-loaded bone cement.[14] Additionally, the company entered into an agreement with Dedienne Santé S.a.s. to distribute dual mobility acetabular cups in the European Economic Area (EEA) and Switzerland.[15]

In 2020, LimaCorporate inaugurated new spaces entirely dedicated to 3D Printing and advanced testing at its HQ campus of San Daniele del Friuli, Udine, Italy. These new facilities include the Research & Innovation Center (R&I Center) and the Advanced Laboratory for Testing and Analysis (ATLAs).[16] In the same year, LimaCorporate became the first Italian company to obtain the EU Quality Management System Certificate under Medical Devices Regulation (MDR) for Class III Custom-Made devices.[17]

On March 24, 2021, LimaCorporate opened the ProMade PoC Center for Complex Orthopedic Solutions at the Hospital for Special Surgery (HSS), the first industry-owned and operated design and 3D printing center on hospital grounds. Located at the HSS main campus in New York City, the ProMade PoC (Point of Care) Center is LimaCorporate's first US-based, FDA-regulated commercial manufacturing facility delivering faster and more accessible care for U.S. patients requiring patient-specific solutions for their complex orthopedic conditions.[18]

In 2022, LimaCorporate's Modular Shoulder System celebrates 20 years of (commercial) life.[19] In January, Lima Canada officially opened as a legal entity.[20] In February, the LimaCorporate Advanced Laboratory for Testing and Analysis (ATLAs) was accredited ISO 17025 by Accredia.[21]

Products & technologies[edit]

Since 2007, LimaCorporate has been a pioneer in the 3D printing of standard and custom implants for orthopedic applications. They have conceived, produced and patented Trabecular Titanium technology, the next generation in additive manufacturing, and benefits from over ten years of clinical experience with 3D printed implants.[22]

On the Digital front, LimaCorporate is developing Smart SPACE a 3D digital pre-operative and intra-operative surgical guidance platform which uses AI and machine learning to advance the platform digital suite supporting all algorithms behind LimaCorporate solutions.

Corporate governance[edit]

Since March 2016, LimaCorporate has been owned by EQT Private Equity.[23] Founded in 1994, EQT is a purpose-driven global investment organization entirely focused on active ownership strategies, while responsibly investing in, owning, and developing companies.[24]

The firm invests in private equity, infrastructure, real estate, growth equity, and venture capital in Europe, North America, and Asia Pacific.[23]

As of March 2022, EQT's assets under management were EUR 90.0 billion.[23]

LimaCorporate's advisory board includes Industry Experts who support the company's growth:[23]

  • Lars Rasmussen, Chairperson of the Board
  • Matteo Thun, Board Member
  • Xavier Berling, Board Member
  • Doug Kohrs, Board Member
  • Eric Lohrer, Board Member
  • Petra Rumpf, Board Member

Since September 2022, Massimo Calafiore has held the role of CEO.[25] Michele Marin has been the CFO since March 2018.[26]

In September 2023, EQT Private Equity announced the sale of LimaCorporate to the NYSE-listed Enovis Group. The transaction is expected to close in early 2024. [27]

Recent acquisitions[edit]

2015 On July 3, 2015, LimaCorporate announced the completion of an assets acquisition process with Zimmer Holdings Inc.. They acquired the Zimmer® Unicompartmental High Flex Knee (ZUK) and Biomet® elbow system for distribution within the European Economic Area (EEA), Switzerland and Japan as well as the Biomet® complete knee system for Denmark and Sweden.[9] The agreement was approved by the Japanese Fair Trade Commission at the end of the same year.[10]

2018

In 2018, LimaCorporate acquired TechMah Medical LLC, a medical device software company located in Tennessee (USA), to offer digital applications that complement their hardware portfolio.[12]

Awards[edit]

LimaCorporate's awards include:

  • SMAU Innovation Award 2017[28]
  • Award for the Best Strategy for Capital Market Use in 2016-2017[29]
  • Diversity and Inclusion Award 2018[30]

References[edit]

  1. ^ a b "Who We Are".
  2. ^ "History - LimaCorporate". LimaCorporate.com. Retrieved 2019-11-28.
  3. ^ "LimaCorporate Heads First 3D Printing Site on Hospital Campus to Address Complex Custom Orthopedic Implants" (PDF).
  4. ^ "Environment".
  5. ^ "Enovis™ to Acquire LimaCorporate S.p.A."
  6. ^ "Enovis Completes Acquisition of LimaCorporate S.p.A". Enovis. Retrieved 2024-01-24.
  7. ^ a b c d "Our History".
  8. ^ "LimaCorporate Enters into an Agreement for Distribution With Orthalign for Handheld Navigation Device" (PDF).
  9. ^ a b "LimaCorporate Announces Completion of Zimmer-Biomet Assets Acquisition" (PDF).
  10. ^ a b "LimaCorporate Completes Acquisition ff Zimmer Biomet Assets in Japan" (PDF).
  11. ^ "EQT and Hansjörg Wyss New Owners of LimaCorporate" (PDF).
  12. ^ a b "LimaCorporate Announces Milestone-Based Acquisition of Techmah Medical LLC to Expand Digital Footprint in Orthopaedics" (PDF).
  13. ^ "LimaCorporate Heads First 3D Printing Site on Hospital Campus to Address Complex Custom Orthopedic Implants" (PDF).
  14. ^ "LimaCorporate Enters into an Agreement for Distribution With G21 for Spaceflex Cement Spacer Portfolio" (PDF).
  15. ^ "LimaCorporate Enters into an Agreement with Dedienne Santé for Distribution of Dual Mobility Cups" (PDF).
  16. ^ "LimaCorporate Inaugurates the New Research & Innovation Center for 3D Printing and the Advanced Laboratory for Testing and Analysis (ATLAs)" (PDF).
  17. ^ "LimaCorporate is the First Italian Company to Obtain the EU Quality Certificate Under the MDR" (PDF).
  18. ^ "LimaCorporate and HSS Partner to Open First Provider-Based Design and 3D Printing Center for Complex Joint Reconstruction Surgery" (PDF).
  19. ^ "We celebrate the 20th Birthday of our Modular Shoulder System".
  20. ^ "We're proud to announce the arrival of Lima Canada".
  21. ^ "LimaCorporate's Advanced Testing Facility Received ISO 17025 Certification by Accredia".
  22. ^ "Our Technology".
  23. ^ a b c d "Shareholders".
  24. ^ "EQT - Statement of Purpose".
  25. ^ "Massimo Calafiore appointed as new LimaCorporate CEO" (PDF).
  26. ^ "Michele Marin Appointed as New Member of The Italian Board of Directors" (PDF).
  27. ^ "EQT Private Equity to sell LimaCorporate to Enovis: The Italian site in San Daniele del Friuli will remain the fulcrum of production, benefiting from new investments" (PDF).
  28. ^ "LimaCorporate, un sistema informativo per ricerca, sviluppo e produzioni avanzate".
  29. ^ "Our Commitment".
  30. ^ "Diversity Day Milano, un'edizione da record!".
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