Evolutis

Who owns Evolutis?

Evolutis is a French MedTech company, currently owned by TechLife Capital since 2023 and Adaxtra Capital. It changed hands in 2023, when Garibaldi Participations sold.

About Evolutis

Evolutis is a French orthopaedics company headquartered in Briennon, in the Auvergne Rhone Alpes region, that designs, develops and manufactures prosthetic joint implants for the hip, shoulder, knee and hand. Its ranges include the Captiv, Capitole and Stemsys hip families, the UNIC shoulder systems, Rolflex knee implants and the Horus TMC hand device, and the group controls the full manufacturing chain from design and machining through polishing, assembly and post-market surveillance at its ISO 13485 certified sites. According to press disclosures around its 2023 ownership change, the group reached consolidated sales of more than EUR 40 million in 2022, up over 20 percent year on year, with close to 40 percent of revenue generated abroad through a network of about 45 distributors and commercial subsidiaries in France, Italy and India. It employs roughly 165 people and positions itself as an independent, export-oriented specialist competing against far larger global implant manufacturers.

Ownership journey

Evolutis was founded in 1999 by a group of experienced orthopaedic-industry veterans, led by president Jean-Michel Peguet, to preserve expertise and jobs after a large American manufacturer closed its facility in the Roanne area. The company first opened its capital to private equity in 2011, when Naxicap Partners backed the business and supported its early development, before exiting in 2016 via a secondary transaction. In 2017 Garibaldi Participations took a minority stake of close to 15 percent, and Adaxtra Capital joined the shareholding from 2020. In 2023 the ownership was reorganised around a majority leveraged transaction: Garibaldi Participations exited that year via a trade sale, while TechLife Capital, investing through TechLife Capital II, came in alongside Adaxtra Capital, who together anchor the current ownership.

Under PE ownership

Under successive institutional backing, Evolutis has grown steadily from a domestic implant maker into an internationally oriented group, lifting consolidated sales above EUR 40 million by 2022 with growth of more than 20 percent that year. It built out an export footprint that now accounts for close to 40 percent of revenue, supported by roughly 45 distributors and commercial subsidiaries established in Paris, Bologna and Mumbai. The company broadened its product portfolio across the hip, shoulder, knee and hand while keeping design and production integrated across its Briennon and Roanne sites. The 2023 majority recapitalisation was framed as a platform for further international expansion and continued investment in orthopaedic innovation.