Enovis Announces Fourth Quarter and Full Year 2024 Results WILMINGTON, DE, February 26, 2025 (GLOBE NEWSWIRE)—Enovis™ Corporation (NYSE: ENOV), an innovation-driven medical technology growth company, today announced its financial results for the fourth quarter and full year ended December 31, 2024. The Company will host an investor conference call and live webcast to discuss these results today at 8:30 am ET. Fourth Quarter and Fiscal Year 2024 Financial Results Enovis' fourth-quarter net sales of $561 mill ...

Core Insights - Enovis Corporation reported a strong financial performance for the fourth quarter and full year of 2024, with net sales reaching $561 million in Q4, representing a 23% increase year-over-year [2][5] - The company experienced significant growth in its Global Reconstructive segment, particularly due to the acquisition of Lima, with reported sales growth of 59% in Q4 [2][9] - Despite the sales growth, Enovis reported a net loss from continuing operations of $704 million in Q4, primarily due to a non-cash goodwill impairment charge of $645 million [3][4] Financial Performance - Fourth-quarter net sales of $561 million grew 23% on a reported basis and 6% on a Comparable Sales basis compared to Q4 2023 [2] - Full-year 2024 net sales totaled $2.1 billion, also reflecting a 23% increase on a reported basis [5] - Adjusted EBITDA for Q4 was $113 million, or 20% of sales, marking a 210 basis points increase from the prior year [3] Segment Performance - The Reconstructive segment saw a 59% increase in net sales on a reported basis in Q4, with a 10% growth in Comparable Sales [2][9] - The Prevention & Recovery segment experienced a modest growth of 2% on a reported basis in Q4 [2] Future Outlook - For 2025, Enovis expects revenue to be in the range of $2.19 to $2.22 billion, indicating an organic growth of 6-6.5% [6] - Adjusted EBITDA for 2025 is forecasted to be between $405 million and $415 million, representing a year-over-year expansion of 60-70 basis points [6] Leadership Transition - CEO Matt Trerotola announced his intention to retire, with the transition to a new CEO to be addressed during the financial results conference call [10]

Core Viewpoint - Enovis Corporation announced the retirement of CEO Matt Trerotola, effective upon the appointment of his successor, as part of the company's succession planning process [1][2][3] Group 1: Leadership Transition - The Board of Directors is actively working with an executive search firm to find a growth-oriented MedTech leader to succeed Trerotola [1] - Trerotola will continue to serve as an employee and Executive Advisor for one year after the new CEO is appointed to ensure a smooth transition [2] - Trerotola expressed pride in the company's accomplishments and emphasized that now is the right time for leadership transition due to the company's strong position for continued growth [3] Group 2: Company Overview - Enovis Corporation is a leader in medical technology innovation, focusing on developing clinically differentiated solutions that improve patient outcomes [4] - The company is dedicated to continuous improvement and innovation, with a wide range of products and services aimed at enhancing active lifestyles in orthopedics and beyond [4]

Core Viewpoint - Enovis Corporation will host an investor conference call and live webcast to discuss its fourth quarter and full year 2024 financial results on February 26, 2025 [1] Group 1: Conference Call/Webcast Information - Investors can access the live webcast via a link on the Enovis website, and those participating by phone can dial (833) 685-0901 for U.S. callers or (412) 317-5715 for international callers [2] - A replay of the call will be available on the Enovis website later that day [2] Group 2: About Enovis - Enovis Corporation is an innovation-driven medical technology growth company focused on developing clinically differentiated solutions for better patient outcomes [3] - The company offers a wide range of products, services, and integrated technologies aimed at enhancing active lifestyles in orthopedics and beyond [3] - Enovis is listed on the New York Stock Exchange under the symbol ENOV [3] Group 3: Availability of Information - Enovis routinely announces material information through SEC filings, press releases, public conference calls, webcasts, and its Investor Relations website [4] - The company encourages stakeholders to review the information shared on its Investor Relations website for potentially material updates [4]

Industry Overview - The Medical Info Systems industry is rapidly expanding, driven by advancements in healthcare resource management and the adoption of digital healthcare and telemedicine, particularly influenced by the latest GenAI wave [1][2] - The industry comprises companies that develop and market healthcare information systems, providing software and hardware solutions for secure access to real-time clinical, administrative, and financial data [5] Market Trends - The use of AI in the medical device market is projected to grow at a CAGR of 29.9% from 2026 to 2029, driven by a patient-centric approach, increased healthcare expenditure, and regulatory support [3] - The global AI in healthcare market is expected to reach $95.65 billion by 2025, enhancing diagnostics and patient monitoring through AI-powered tools [9] - The global smart healthcare products market was valued at $145.9 billion in 2023 and is projected to reach $485.71 billion by 2032, with a CAGR of 12.78% [12] Key Companies - Enovis is a medical technology company focused on reconstructive surgery, rehabilitation, and pain management, with a projected earnings growth of 16.3% for 2024 and 14.3% for 2025 [19][20] - Omnicell develops automation solutions for medication management, targeting revenues of $1.9 billion to $2 billion by 2025, representing a CAGR of 14%-15% from 2021 to 2025 [21] - Phreesia provides an integrated SaaS-based software and payment platform, enabling approximately 150 million patient visits in 2023, with a projected earnings growth of 56.2% for 2024 [22][23] Industry Performance - The Zacks Medical Info Systems industry has underperformed the S&P 500 and the broader medical sector over the past year, with a decline of 6.6% compared to the sector's decline of 4.4% [17] - The industry is currently trading at a forward 12-month price-to-sales ratio of 5.63X, compared to the S&P 500's 5.51X and the sector's 2.86X [18]

Core Insights - The Medical Info Systems industry is rapidly expanding, driven by advancements in AI and telemedicine, with significant growth expected by 2025 due to new federal policies and projects like Trump's $500 billion Stargate initiative [1][4]. Industry Overview - The Zacks Medical Info Systems industry includes companies that develop healthcare information systems, providing software and hardware solutions for real-time access to clinical, administrative, and financial data [3]. - Key players like Omnicell and Allscripts are generating substantial revenue from software sales, IT outsourcing, and maintenance contracts [3]. Market Trends - The medical device market is projected to grow at a CAGR of 29.9% from 2026 to 2029, driven by a patient-centric approach and increasing healthcare expenditure [2]. - The global AI in healthcare market is expected to reach $95.65 billion by 2025, enhancing diagnostics and patient monitoring through AI-powered tools [4]. - The smart healthcare products market was valued at $145.9 billion in 2023 and is anticipated to grow to $485.71 billion by 2032, at a CAGR of 12.78% [5]. Cybersecurity Concerns - The increasing interconnectivity of healthcare systems has raised cybersecurity risks, with notable incidents affecting companies like Henry Schein and Change Healthcare [6]. Industry Performance - The Zacks Medical Info Systems industry has underperformed the S&P 500 and the broader medical sector over the past year, with a decline of 6.6% compared to the sector's 4.4% drop [9]. Valuation Metrics - The industry is currently trading at a forward price-to-sales ratio of 5.63X, compared to the S&P 500's 5.51X and the sector's 2.86X [11]. Company Highlights - **Enovis**: A medical technology company with a Zacks Rank 2 (Buy), expected to see a 16.3% earnings improvement in 2024 and 14.3% growth in 2025 [14][15]. - **Omnicell**: Also holding a Zacks Rank 2, targeting revenues of $1.9 billion to $2 billion by 2025, with a CAGR of 14%-15% from 2021 to 2025 [17][18]. - **Phreesia**: Provides a SaaS-based platform, enabling approximately 150 million patient visits in 2023, with a Zacks Rank 2 and a projected 56.2% earnings improvement in 2024 [20][21].

Core Insights - Enovis has announced that Davide Visentin will succeed Dr. Benjamin Reinmann as President of Enovis International Surgical, effective March 1, 2025 [1][2] Company Leadership Transition - Davide Visentin brings over 20 years of healthcare experience, previously serving as Vice President and General Manager at BD, managing over 700 employees across 50 countries [2] - Visentin has also held leadership roles at Stryker and Johnson & Johnson, indicating a strong background in the MedTech industry [2][3] - Louie Vogt, Group President of Enovis' Reconstructive Business Group, expressed gratitude for Dr. Reinmann's contributions and excitement for Visentin's leadership, highlighting his dynamic leadership and passion for orthopedics [3] Business Growth and Strategy - Enovis is focused on building its International Surgical Business into a global leader in orthopedics, emphasizing a commitment to excellence and innovation [4] - The company aims to leverage the momentum gained in 2024 to advance strategic goals, increase market share, and improve patient outcomes [4]

Group 1 - Maplebear Inc. will replace Enovis Corp. in the S&P MidCap 400 effective January 14, 2025 [1] - Enovis Corp. will replace Arch Resources Inc. in the S&P SmallCap 600 on the same date [1] - CONSOL Energy Inc. is acquiring Arch Resources, and following the merger, it will be renamed Core Natural Resources Inc. with a new ticker CNR [1] Group 2 - The changes in the S&P indices include the addition of Maplebear to the S&P MidCap 400 and the deletion of Enovis from the same index [2] - Enovis will be added to the S&P SmallCap 600 while Arch Resources will be removed from that index [2]

Core Viewpoint - Enovis Corporation is set to present at the 43rd Annual J.P. Morgan Healthcare Conference, highlighting its commitment to innovation in medical technology [1] Company Overview - Enovis Corporation is an innovation-driven medical technology growth company focused on developing clinically differentiated solutions that improve patient outcomes and transform workflows [2] - The company offers a wide range of products, services, and integrated technologies aimed at supporting active lifestyles, particularly in orthopedics [2] - Enovis's shares are traded on the New York Stock Exchange under the symbol ENOV [2]

Group 1 - The article highlights the focus on buy-write or covered call opportunities in selected biotech stocks, indicating a trend among investors in the biotech sector [1] - Enovis Corporation (NYSE: ENOV) is spotlighted for its solid third-quarter performance, strong analyst support, and reasonable stock valuation [2] - The Biotech Forum offers a model portfolio featuring 12-20 high upside biotech stocks, along with live chat discussions and weekly market commentary [2]