Thuasne® conquering the west
The Thuasne® group announces the acquisition of Corflex Inc., an American company specializing in flexible orthopedic devices. This fifth acquisition in the United States - one of the world’s largest markets - confirms the status of Europe’s leading medical device company as a heavyweight in the world of healthcare.
At a time when the spotlight is shining on the billions of investments promised in France, and the just issues of reindustrialization and relocation of know-how, Thuasne® illustrates the strong international dynamism of mid-sized French companies. Backed by its territorial footprint and its ability to project itself internationally through exports and foreign operations, this champion has grown into a powerful group, present in 110 countries thanks to its 19 subsidiaries on 5 continents, with sales of €281 million in 2023, 50% of which was from exports.
After Townsend Design in 2011, Quinn Medical in 2016, Lantz Medical in 2019, Knit-Rite and its Therafirm division in 2021, Thuasne® signed its fifth acquisition in the United States in 12 years with the acquisition of Corflex Inc. Founded in 1984 by the Lorenzetti brothers, the 150-employee company with a turnover of $11 million currently manufactures and distributes 1,700 high-quality flexible orthopedic solutions. This merger is based on strong common values: the in-house design of marketed devices, an integrated industrial strategy and the capacity for innovation that gives them true technological superiority. Within Thuasne®’s US subsidiary, Corflex will continue to operate under its current brand name, maintaining its sites in Manchester, New Hampshire and the Dominican Republic.
While Thuasne® announced last December that it would take over the Australian company Medical Rehab, this new operation represents a major step in the company’s growth strategy. In the United States, the Group aims to position itself as one of the most powerful players in a market worth nearly $1.2 billion, with sales of $100 million by 2027. An ambition supported by one of the broadest portfolios in terms of depth of range and distribution channels (braces and prostheses, medical equipment stores, hospitals, e-commerce, etc.).
For Elizabeth Ducottet, CEO of Thuasne®, «We are proud of this acquisition, which confirms the Thuasne® Group’s ambition to seize growth opportunities and diversify our markets in order to get ever closer to our customers’ needs. It is also the expression of a long-term development strategy. French industry needs to succeed on the export market, because it’s the only way to achieve the critical mass needed to absorb high fixed costs, keep our jobs, and ensure our export strength and economic influence on the world stage!»
Delphine Hanton, Managing Director of Thuasne® adds «We are delighted to welcome Corflex to the Thuasne® Group. This acquisition fits perfectly with our vision of broadening our product offering and increasing our market share in the United States and beyond. Corflex brings a wealth of expertise and a well-established brand that complements our existing portfolio. Together, we will be able to provide a more comprehensive range of solutions to our customers.»
«This acquisition marks an important milestone for Corflex. Our team has worked tirelessly to build a brand that stands for quality and innovation. Joining forces with Thuasne® will allow us to extend Corflex’s reach, improve our product offering and benefit both our customers and stakeholders in the treatment pathway.» The Lorenzetti brothers, founders of Corflex.
About Corflex : Founded in 1984 by the Lorenzetti brothers after the takeover of a medical device manufacturer, Corflex today manufactures and distributes high-quality orthopedic solutions. From their facilities in New Hampshire and the Dominican Republic, they sell their products in the United States and around the world. Their patient-centric strategy infuses innovation into solutions, product design, development and continuous improvement, inviting patients to move towards a more active lifestyle. https://corflexglobal.com
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