08.17.21
Rank: #6 (Last year: #7)
$1.12 Billion
Prior Fiscal: $1.08 Billion
Percentage Change: +3.7%
No. of Employees: 5,200
Global Headquarters: Vista, Calif.
KEY EXECUTIVES:
Matthew L. Treotola, President and CEO, Colfax Corp.
Christopher Hix, Exec. VP and CFO, Colfax Corp.
Brady R. Shirley, Exec. VP, Colfax Corp.; CEO, DJO
Ben Berry, CFO, DJO
Jason Anderson, President, Bracing and Supports, DJO
Gary Justak, President and GM, Foot & Ankle, DJO
Bryan S. McMillan, President, Regeneration, DJO
Terry Ross, President, Chattanooga, DJO
Raj Subramonian, Sr. VP and GM, FootCare Solutions, DJO
Louie Vogt, President and GM, DJO Surgical
In November, a former DJO independent distributor All Pro Sports was alerted to a cyber-attack that occurred late last summer. It potentially affected DJO product recipients in the central Florida area and personal information was possibly disclosed in the attack.
According to its press release, DJO “became aware that an email account of an All Pro employee may have been compromised as a result of a malicious phishing email scheme.” During the attack, the exposed email account forwarded “malicious emails” to email addresses in the account.
The exposed information possibly included “name, address, email address, date of birth, physician name, product information, as well as other information related to the product prescription, and in limited circumstances, Medicare numbers.”
The company hired an information technology forensic investigation firm to examine the All Pros email account. After investigating the matter, DJO confirmed its own email and internal systems weren’t exposed in the attack.
Despite COVID-19’s ravaging of orthopedic company revenue, DJO (referred in the annual report as the Medical Technology segment of Colfax) rose 3.7 percent to accrue $1.12 billion in revenue. The main cause was $199.5 million from about two additional months of acquisition-related sales last year, partially offset by sales volume decrease due to the pandemic. All in all, the firm completed five acquisitions for total consideration of $67.5 million.
Last June, a documentation verification services (DVS) program was added to the company’s Dr. Comfort diabetic footwear. DVS assists with managing documentation to meet evolving Medicare requirements, including verification, collection and storage, and tracking of all steps within the process and practitioner notification when products can be ordered and claims filed.
The DonJoy X-ROM post-op knee brace was rolled out last June. To help recovery from ACL repair and other knee surgeries, X-ROM touts an easy-to-use strap, tab, and buckle designs. Independently telescoping sliders with push button controls enhance brace placement, stability, and comfort—the resulting freedom of adjustment helps minimize peroneal nerve compression at the fibular neck. A strong, lightweight design boosts varus/valgus contouring. Folded ankle pads and strategically placed contact points are included between the leg and the brage to reduce slippage, and an antimicrobial coating neutralizes odor. X-ROM’s hinge design and quick-lock feature were also revamped.
Two new EMPOWR systems were announced last August, EMPOWR Acetabular and Partial Knee. Designed based on anthropometric data, the acetabular system’s titanium coating aids bone apposition and its HXe liners were designed for ball and socket kinematics and blended with vitamin E to reduce oxidation and long-term wear. The partial knee system was also designed based on anthropometric data to create anatomically shaped femoral and tibial components for comprehensive bone coverage in medial or lateral components, while minimizing overhand potential and maximizing natural motion. Both systems feature single-tray instrumentation.
August also saw the release of Motion iQ software. A simple-user friendly app lets patients send text messages, video messages, and images to the care team and access personalized info, physical therapy exercises, and other resources. The care team can remotely track progress, patients and surgeons can communicate via direct messaging, and personalized educationhelps promote compliance. A provider dashboard tracks patient data and issues progress reports, flagging patients not meeting recovery benchmarks or who may need clinical interventions.
The AltiVate Anatomic CS EDGE stemless shoulder replacement hit the market in November. It features a canal-sparing, three-fin humeral stem with serrated fin tips so the implant can be used to cut into the bone. Its titanium porous coating aids in bone apposition for in-growth performance and press-fit implantation. It’s compatible with the AltiVate Anatomic e+ glenoid component with patented Drop-and-Go technology for immediate fixation.
In October the firm entered a deal with Stryker to receive its STAR total ankle replacement, as well as finger joint replacement products in connection with Stryker’s then-not-yet-closed acquisition of Wright Medical. The deal was completed a month later.
“Ankle and finger arthroplasty are two fast-growing arthroplasty segments, and this acquisition reflects DJO’s focus on providing market-leading solutions to meet the greater needs of surgeons and their patients,” DJO CEO Brady Shirley told the press. “This expansion allows us to address a larger patient population and enhances our goal of helping patients return to an active lifestyle.”
In December, the firm acquired in a $39.6 million deal a developer of therapeutic laser technology, LiteCure, adding it to the firm’s Recovery Sciences business. New products gained were LightForce therapy lasers for humans and Companion for animals, which includes Pegasus equine laser technology. The high-powered lasers are found in professional and college athletic training rooms, and are preferred to treat world-class athletes. High power lasers are a fast-growing modality for physical therapy.
“With DJO’s expanded reach and resources, we are excited to increase awareness and adoption of deep tissue laser therapy,” Brian Pryor, founder and CEO of LiteCure, told the press. “We are passionate about the clinical benefits of photobiomodulation as well as the benefits it brings to a practice when adding this modality.”
$1.12 Billion
Prior Fiscal: $1.08 Billion
Percentage Change: +3.7%
No. of Employees: 5,200
Global Headquarters: Vista, Calif.
KEY EXECUTIVES:
Matthew L. Treotola, President and CEO, Colfax Corp.
Christopher Hix, Exec. VP and CFO, Colfax Corp.
Brady R. Shirley, Exec. VP, Colfax Corp.; CEO, DJO
Ben Berry, CFO, DJO
Jason Anderson, President, Bracing and Supports, DJO
Gary Justak, President and GM, Foot & Ankle, DJO
Bryan S. McMillan, President, Regeneration, DJO
Terry Ross, President, Chattanooga, DJO
Raj Subramonian, Sr. VP and GM, FootCare Solutions, DJO
Louie Vogt, President and GM, DJO Surgical
In November, a former DJO independent distributor All Pro Sports was alerted to a cyber-attack that occurred late last summer. It potentially affected DJO product recipients in the central Florida area and personal information was possibly disclosed in the attack.
According to its press release, DJO “became aware that an email account of an All Pro employee may have been compromised as a result of a malicious phishing email scheme.” During the attack, the exposed email account forwarded “malicious emails” to email addresses in the account.
The exposed information possibly included “name, address, email address, date of birth, physician name, product information, as well as other information related to the product prescription, and in limited circumstances, Medicare numbers.”
The company hired an information technology forensic investigation firm to examine the All Pros email account. After investigating the matter, DJO confirmed its own email and internal systems weren’t exposed in the attack.
Despite COVID-19’s ravaging of orthopedic company revenue, DJO (referred in the annual report as the Medical Technology segment of Colfax) rose 3.7 percent to accrue $1.12 billion in revenue. The main cause was $199.5 million from about two additional months of acquisition-related sales last year, partially offset by sales volume decrease due to the pandemic. All in all, the firm completed five acquisitions for total consideration of $67.5 million.
Last June, a documentation verification services (DVS) program was added to the company’s Dr. Comfort diabetic footwear. DVS assists with managing documentation to meet evolving Medicare requirements, including verification, collection and storage, and tracking of all steps within the process and practitioner notification when products can be ordered and claims filed.
The DonJoy X-ROM post-op knee brace was rolled out last June. To help recovery from ACL repair and other knee surgeries, X-ROM touts an easy-to-use strap, tab, and buckle designs. Independently telescoping sliders with push button controls enhance brace placement, stability, and comfort—the resulting freedom of adjustment helps minimize peroneal nerve compression at the fibular neck. A strong, lightweight design boosts varus/valgus contouring. Folded ankle pads and strategically placed contact points are included between the leg and the brage to reduce slippage, and an antimicrobial coating neutralizes odor. X-ROM’s hinge design and quick-lock feature were also revamped.
Two new EMPOWR systems were announced last August, EMPOWR Acetabular and Partial Knee. Designed based on anthropometric data, the acetabular system’s titanium coating aids bone apposition and its HXe liners were designed for ball and socket kinematics and blended with vitamin E to reduce oxidation and long-term wear. The partial knee system was also designed based on anthropometric data to create anatomically shaped femoral and tibial components for comprehensive bone coverage in medial or lateral components, while minimizing overhand potential and maximizing natural motion. Both systems feature single-tray instrumentation.
August also saw the release of Motion iQ software. A simple-user friendly app lets patients send text messages, video messages, and images to the care team and access personalized info, physical therapy exercises, and other resources. The care team can remotely track progress, patients and surgeons can communicate via direct messaging, and personalized educationhelps promote compliance. A provider dashboard tracks patient data and issues progress reports, flagging patients not meeting recovery benchmarks or who may need clinical interventions.
The AltiVate Anatomic CS EDGE stemless shoulder replacement hit the market in November. It features a canal-sparing, three-fin humeral stem with serrated fin tips so the implant can be used to cut into the bone. Its titanium porous coating aids in bone apposition for in-growth performance and press-fit implantation. It’s compatible with the AltiVate Anatomic e+ glenoid component with patented Drop-and-Go technology for immediate fixation.
In October the firm entered a deal with Stryker to receive its STAR total ankle replacement, as well as finger joint replacement products in connection with Stryker’s then-not-yet-closed acquisition of Wright Medical. The deal was completed a month later.
“Ankle and finger arthroplasty are two fast-growing arthroplasty segments, and this acquisition reflects DJO’s focus on providing market-leading solutions to meet the greater needs of surgeons and their patients,” DJO CEO Brady Shirley told the press. “This expansion allows us to address a larger patient population and enhances our goal of helping patients return to an active lifestyle.”
In December, the firm acquired in a $39.6 million deal a developer of therapeutic laser technology, LiteCure, adding it to the firm’s Recovery Sciences business. New products gained were LightForce therapy lasers for humans and Companion for animals, which includes Pegasus equine laser technology. The high-powered lasers are found in professional and college athletic training rooms, and are preferred to treat world-class athletes. High power lasers are a fast-growing modality for physical therapy.
“With DJO’s expanded reach and resources, we are excited to increase awareness and adoption of deep tissue laser therapy,” Brian Pryor, founder and CEO of LiteCure, told the press. “We are passionate about the clinical benefits of photobiomodulation as well as the benefits it brings to a practice when adding this modality.”