WILMINGTON, DE — Enovis Corporation (NYSE: ENOV) announced the sale of its Dr. Comfort diabetic shoe business to Promus Equity Partners, a Chicago-based asset management firm, in a transaction valued at up to $60 million in cash. The deal includes an upfront payment of $45 million and up to $15 million in contingent payments tied to performance milestones.
The divestiture marks a strategic move by Enovis to sharpen its focus on its core Prevention & Recovery segment. Chief Executive Officer Damien McDonald said the sale aligns with the company’s broader effort to simplify operations and strengthen financial performance.
“This transaction represents a positive outcome for Enovis, our Dr. Comfort business, and Promus Equity Partners,” McDonald said. “By streamlining our portfolio, we are creating a stronger foundation for the future. This divestiture, along with other initiatives already underway, positions Enovis to expand margins, enhance profitability, and accelerate debt reduction.”
McDonald also praised the Dr. Comfort team for driving performance improvements and maintaining a strong commitment to patient outcomes, adding that Promus offers the business “an ideal environment to achieve its full potential.”
Promus Equity Partners, which manages approximately $2.7 billion across buyouts, real estate, and venture capital, expressed optimism about the acquisition. “We’re excited to build upon Dr. Comfort’s long heritage in serving clinicians, channel partners, and patients with quality products and exceptional service,” said Anders Rosenquist, Partner at Promus.
Enovis said it will provide additional details on the sale during its third-quarter earnings call scheduled for Thursday, November 6, at 8:30 a.m. ET. Citizens Capital Markets & Advisory acted as financial advisor, and Tucker Ellis LLP served as legal counsel to Enovis.
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