Bang: Bettlacher Mathys AG merges with US multi
The Bettlach orthopedic company Mathys AG and the American company DJO surprisingly go together. “The shareholders of Mathys will sell their shares to the parent company of DJO, the US company Colfax Corporation,” said a media release published on Tuesday.
Livio Marzo, President of the Board of Directors of Mathys AG, is quoted in the announcement as saying that “the Board of Directors and the shareholders of Mathys carefully weighed the decision in favor of DJO”. The spirit of the family company will “live on successfully in a new environment over the long term”. And Benjamin Reinmann, CEO of Mathys, announces that «the alliance with DJO is the optimal solution for further strengthening and developing Mathys.
The merger would create competence centers in the USA and Europe, it says:
“The non-American surgery business will be headquartered in Bettlach and combine the activities of the DJO surgery division outside of the USA.”
At the same time, Mathys will benefit from DJO’s strong position in the domestic US market. The combined company expects to launch the Mathys hip portfolio in the United States, subject to regulatory approvals.
«From a position of strength»
The implant manufacturer Mathys felt that many elective (plannable) operations, such as those for joint replacement, had been postponed in the times of Corona. In the first half of 2020 alone, sales fell by 20 percent. According to a communication from Mathys, the aim of the merger is “to combine the strengths and capabilities of the brands, locations and employees of Mathys and DJO in order to take advantage of development opportunities and realize growth”. What the employees in Bettlach and other locations around the world are probably most interested in: “The Mathys brand will be continued and the current Mathys corporate structure will be retained within DJO.” And:
“Nothing will change for the employees, the existing employment contracts will be continued.”
The market environment is described as the joint replacement market is a growth area in dynamic development. Customers have constantly increasing demands on innovative strength, presence in relevant markets and the scope of the range, and providers are increasingly reacting to this by bundling their strengths. “From a position of strength and in close coordination with the shareholders, the board of directors examined options for how Mathys can optimally and sustainably position the company,” it continues.
After long discussions it became clear that “Mathys and DJO pursue similar values and goals in the field of artificial joints, with little overlap in technology, products and markets”.
One of the pioneers in medical technology
The traditional family company, founded in 1946 by Robert Mathys senior, is owned by the Mathys and Marzo families. In October 2020, Hugo Mathys handed over the chairmanship of the Board of Directors to Livio Marzo, who had already been a member of the Board of Directors since 2018 and is a representative of the third Mathys generation. When he took over the presidency in 2020, Marzo had declared that he wanted to “continue on the path taken in line with our values as an innovative family company with the board of directors and management”. Hugo Mathys remains on the Board of Directors as Vice Chairman.
As early as 2003, the family company, led by Hugo Mathys, had sold most of the company to the US medical technology group Synthes and subsequently concentrated fully on the orthopedics sector.