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WILMINGTON, DE - Enovis Corporation (NYSE: ENOV), a prominent medical technology company with annual revenues of $2.1 billion, announced the appointment of Damien McDonald as its new Chief Executive Officer, effective May 12, 2025. McDonald, who brings over 35 years of experience in the medical device industry, will also join the Enovis Board of Directors after the company’s annual stockholders meeting on May 21, 2025. According to InvestingPro data, the company maintains strong liquidity with a current ratio of 2.17, indicating robust short-term financial health.
The incoming CEO has a notable track record in the industry, including a recent stint as CEO of LivaNova, where he focused on medical devices for critical health conditions and emphasized a patient-first approach. His previous roles include leadership positions at Danaher and Zimmer’s spine division, as well as global marketing for J&J’s Ethicon.
McDonald is set to take over from Matt Trerotola, who has announced his retirement and will not seek re-election at the upcoming annual meeting. In the interim, Enovis has confirmed its financial guidance for the first quarter, projecting revenues between $555 and $563 million, with adjusted EBITDA ranging from $97 to $100 million.
Sharon Wienbar, Lead Independent Director at Enovis, expressed the board’s enthusiasm for McDonald’s appointment, citing his alignment with the company’s business processes and culture as key factors in his selection. Wienbar is slated to become the independent Chair of the Board following Trerotola’s retirement.
The company plans to discuss the management transition plan during its first-quarter earnings call on May 8, 2025. This announcement is based on a press release statement from Enovis.
In other recent news, Enovis Corp has reported its fourth-quarter 2024 earnings, surpassing analyst expectations with an adjusted earnings per share (EPS) of $0.98, exceeding the forecast of $0.9147. The company achieved a revenue increase of 23% year-over-year, reaching $561 million, demonstrating strong operational performance. Enovis has successfully integrated the Lima acquisition, surpassing synergy goals, which has contributed to its competitive position and market share gains. Additionally, the company has provided positive guidance for 2025, anticipating revenue between $2.19 billion and $2.22 billion, with organic growth expected to be between 6% and 6.5%. Enovis also projects adjusted EBITDA between $405 million and $415 million, with a strategic focus on debt reduction. Despite the positive earnings, Enovis’s stock experienced a decline, possibly due to broader market conditions or specific company risks. Analyst feedback from firms like Wells Fargo and Evercore ISI has been engaged, with discussions on the company’s M&A strategy and growth expectations for its recon business.
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