Enovis completes sale of its Dr. Comfort Footcare Solutions business for proceeds of up to $60 million

Rhea-AI Summary

Enovis (NYSE: ENOV) completed the sale of its Dr. Comfort footcare diabetic shoe business to Promus Equity Partners for up to $60 million in cash, comprising an $45 million upfront payment and up to $15 million in milestone payments.

The company said the divestiture sharpens focus on its Prevention & Recovery franchise, aims to expand margins, enhance profitability, and accelerate debt reduction. Enovis will discuss strategic details on its Q3 results call on Nov 6, 2025 at 8:30 am ET. Promus is a multi-family asset manager with approximately $2.7 billion under management. Citizens Capital Markets & Advisory and Tucker Ellis LLP advised Enovis.

Positive

• Sale proceeds up to $60 million
• Upfront cash of $45 million
• Contingent milestone payments up to $15 million
• Promus buyer manages approximately $2.7 billion

Negative

• Dr. Comfort business removed from Enovis portfolio
• Portion of consideration ($15 million) contingent on future milestones

Insights

Corporate Finance Analyst

Sale monetizes a non-core unit for up to $60 million, providing immediate cash and contingent upside while narrowing Enovis' portfolio.

Enovis completed the sale of Dr. Comfort for an upfront cash payment of $45 million and up to $15 million in contingent milestone payments, with Promus Equity Partners as the buyer. The transaction converts an operating asset into immediate liquidity and potential future cash, and formally transfers the business to a private-equity owner managing roughly $2.7 billion in affiliated capital.

The main dependencies are the realization of the contingent $15 million and how management applies the proceeds; the release explicitly links the deal to portfolio focus, margin expansion, profitability improvements, and debt reduction but provides no specific allocations or timelines. Key near-term items to watch are disclosures on the achievement criteria for the milestone payments, the intended use of the upfront proceeds (particularly for debt reduction), and additional commentary on the company’s November 6 third-quarter call when management will provide strategic detail. These items will determine the concrete financial impact over the next reporting cycle.

Wilmington, DE, Oct. 08, 2025 (GLOBE NEWSWIRE) -- Enovis™ Corporation (“Enovis” or “the Company”) (NYSE: ENOV), an innovation-driven medical technology growth company, today announced the sale of its Dr. Comfort diabetic shoe business to Promus Equity Partners, a multi-family asset management firm based in Chicago, for consideration of up to $60 million in cash, consisting of an upfront payment of $45 million, and up to $15 million payable in the future upon the achievement of certain milestones.

“This transaction represents a positive outcome for Enovis, our Dr. Comfort business, and Promus Equity Partners,” said Damien McDonald, Enovis’ Chief Executive Officer. “The sale sharpens our focus on Enovis’ core strengths and market leadership in Prevention & Recovery. 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—further strengthening our role as a focused med-tech innovator dedicated to improving patients’ lives.”

McDonald added, “I want to thank our dedicated Dr. Comfort associates for driving significant performance improvements while staying true to a long-term commitment to patient outcomes. We are confident that, as part of the Promus Equity Partners portfolio, Dr. Comfort has found an ideal environment to achieve its full potential. This acquisition supports continued growth for the business, creates opportunities for employees, and delivers ongoing benefits to the physicians and patients who rely on these products.”

”Promus Equity Partners is thrilled to be partnering with the team at Dr. Comfort in its mission to make life easier for people living with diabetes and other conditions affecting the feet.” said Anders Rosenquist, Partner at Promus Equity Partners. “We’re excited to build upon Dr. Comfort’s long heritage in the category of serving clinicians, channel partners and patients with quality products and exceptional service.”

Enovis will provide additional strategic commentary on the transaction during its third quarter results call which will take place on Thursday, November 6^th, at 8:30 am. Investors can access the live webcast via a link on the Enovis website. For those planning to participate on the call, please dial (888) 672-2415. A replay of the call will also be available on the Enovis website later that day.

Promus Equity Partners is a multi-family asset management firm based in Chicago with approximately $2.7 billion under management among its affiliated entities that invests in buyouts, real estate, venture capital, and other asset classes.

Citizens Capital Markets & Advisory served as financial advisor and Tucker Ellis LLP  served as legal counsel to Enovis.

About Enovis

Enovis Corporation (NYSE: ENOV) is an innovation-driven medical technology growth company dedicated to developing clinically differentiated solutions that generate measurably better patient outcomes and transform workflows. Powered by a culture of continuous improvement, global talent and innovation, the Company’s extensive range of products, services and integrated technologies fuels active lifestyles in orthopedics and beyond. The Company’s shares of common stock are listed in the United States on the New York Stock Exchange under the symbol ENOV. For more information about Enovis, please visit www.enovis.com.

Availability of Information on the Enovis Website

Investors and others should note that Enovis routinely announces material information to investors and the marketplace using SEC filings, press releases, public conference calls, webcasts and the Enovis Investor Relations website. While not all of the information that the Company posts to the Enovis Investor Relations website is of a material nature, some information could be deemed to be material. Accordingly, the Company encourages investors, the media and others interested in Enovis to review the information that it shares on ir.enovis.com.

Kyle Rose
Vice President, Investor Relations
Enovis Corporation
+1-917-734-7450
investorrelations@enovis.com

FAQ

What did Enovis (ENOV) sell on October 8, 2025?

Enovis sold its Dr. Comfort diabetic shoe business to Promus Equity Partners for up to $60 million.

How is the $60 million consideration for Dr. Comfort structured?

The consideration is $45 million upfront in cash plus up to $15 million payable upon achievement of certain milestones.

How might the Dr. Comfort sale affect Enovis (ENOV) strategy?

Enovis said the divestiture sharpens focus on Prevention & Recovery, targets margin expansion, profitability improvement, and accelerated debt reduction.

When will Enovis discuss the transaction in its investor call?

Enovis will provide additional commentary on its Q3 results call on November 6, 2025 at 8:30 am ET.

Who acquired Dr. Comfort and what is their size?

Promus Equity Partners acquired Dr. Comfort; Promus has about $2.7 billion under management among affiliated entities.

Who advised Enovis on the Dr. Comfort sale?

Citizens Capital Markets & Advisory served as financial advisor and Tucker Ellis LLP served as legal counsel to Enovis.