Riverside buys Australia orthopedics business

Established in 1999 by Mike Ribot and Steve Banks, GOT supplies implants and instruments for hip, knee, shoulder and spine surgeries, along with related orthobiologics. It has two design and manufacturing facilities in New South Wales. The company claims to be largest Australia-owned orthopaedics manufacturer.

According to a release, Andrew Fox-Smith, a former group president of Stryker Corp, and Duncan Lilley, who held senior roles with the British Standards Institution (BSI) and SAI Global, partnered with Riverside in the transaction. Fox-Smith and Lilley will serve as CE0 and CFO, respectively. Ribot and Banks will continue to be involved as shareholders and senior managers.

"GOT has an enviable product portfolio and a history of innovation," said Simon Feiglin, a partner with Riverside. "They're a growing company in an expanding market thanks to offering products and services that are valued by surgeons and relied upon by patients in Australia and increasingly around the world."

Riverside claims to have made more than 70 investments in the healthcare space and boasts a dedicated team of healthcare investment specialists.

The GP recently reached a final close of $235 million on its second Asia fund, 57% above its original $150 million target. The same month it exited another Australian investment, health drink franchise Boost Juice Bars, selling a 70% stake to Bain Capital for an undisclosed amount. It originally purchased the stake for $70 million in 2010.

Riverside typically investing in growing businesses valued at up to $250 million. Since its founding in 1988, the firm has been involved in more than 340 transactions.

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• Topics
• Australasia
• Healthcare
• Buyouts
• Buyout
• healthcare
• Australia
• buyout
• The Riverside Company