mynth
← DATABASE
05/2018

CORIN GROUP acquired by PERMIRA

UNITED KINGDOM Life Sciences / Medical Devices / Implants & Prosthetics EV £300–700M

Context

Permira, the global private equity firm, acquired a majority stake in Corin Group, a UK-based leader in orthopaedic innovation, from a consortium of investors including DeA Capital, Hunt Capital, and IP (Investimenti e Partecipazioni). Permira's thesis was centered on accelerating Corin's international scale—particularly in the US and Australian markets—and fueling an aggressive buy-and-build strategy to integrate digital health and robotic capabilities into the core implant business. This approach aimed to position Corin as a "Challenger OEM" capable of disrupting larger incumbents through superior product innovation and data-driven patient monitoring.

CORIN GROUP, which reported an EBITDA margin of [members only] in 2017, is valued in this transaction at an EV/EBITDA multiple of 10x–18x, representing a discount to the average currently observed in the Healthcare & Pharma sector (14.3x).

-> Deep-dive in Healthcare & Pharma market trends

Target

Corin is an international orthopaedic company that designs, manufactures, and distributes a wide range of joint replacement implants (hip, knee, ankle, and shoulder). It is recognized for its "Connected Orthopaedic Insight" strategy, which integrates clinically proven implants with advanced digital technologies and robotic-assisted surgical platforms to improve patient outcomes and surgical precision.

Ent. Value

£300–700M

Equity Value

[members only]

Multiples

EV / Revenue

2x–6x

EV / EBITDA

10x–18x

EV / EBIT

[members only]

Historical Financials (GBP)

Year
Rev
EBITDA
EBIT
2017
£100–200M
£10–30M
[members only]
2016
£100–200M
£10–30M
[members only]

Similar deals in Life Sciences

Similar deals in Life Sciences

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
DateAcquirerTargetCountrySector
10/2018GLANBIASLIMFASTUNITED STATESNutrition & Dietary Supplements
08/2018DENTRESSANGLEACTEONFRANCEMedical Devices
05/2018ZoetisAbaxisUNITED STATESDiagnostic Equipment
05/2018NNPARAGON MEDICALUNITED STATESMedical Devices
12/2017PERKINELMEREUROIMMUN MEDICAL LABORATORY DIAGNOSTICSGERMANYDiagnostic Equipment
10/2017UI INVESTISSEMENT / BPIFRANCETHERADIALFRANCEMedical Devices
10/2017CVCSEBIAFRANCEDiagnostic Equipment
09/2017FRESENIUSNXSTAGE MEDICALUNITED STATESDiagnostic Equipment
06/2017CHARTERHOUSESERBBELGIUMPharma & Biotech
06/2017EQT PARTNERSOTTOBOCKGERMANYImplants & Prosthetics

REFERENCES

Valuation range: EV £300–700M

Revenue range: £100–200M

EBITDA range: £10–30M

EV/Revenue range: 2x - 6x

EV/EBITDA range: 10x - 18x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of CORIN GROUP by PERMIRA are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Press release: view release

Target: corin group

Acquirer: permira