G21

Who owns G21?

G21 is currently owned by G Square Healthcare PE through G Square Capital IV (2021 vintage), since 2025.

Hand-verified · updated 2026-05-31

About G21

G21 is an Italian medical technology company that develops, manufactures and distributes proprietary biomaterial solutions for orthopaedic and spine surgery from its base in San Possidonio, near Modena. Its portfolio centres on bone cements and modular antibiotic spacers for the shoulder, knee and hip, used chiefly in the two-stage treatment of prosthetic joint infection, alongside minimally invasive systems for kyphoplasty and vertebroplasty. The company positions itself as a specialist biomaterials player rather than a broad-line orthopaedics vendor, competing through its cement and spacer technology, including the SPACEFLEX cement spacer portfolio distributed through orthopaedic partners. Its products reach surgeons and healthcare providers in 55 countries, with an established footprint in Italy, the United States and other international markets.

Ownership journey

G21 was founded in 2009 in San Possidonio by Filippo and Maurizio Foroni, who built the company over the following decade around proprietary bone cement and spacer technologies. In June 2025 G Square Healthcare Private Equity acquired a majority stake, investing through its G Square Capital IV fund and becoming the controlling equity owner. The founders, with CEO Filippo Foroni, retained a stake and continued to lead the business, working alongside senior advisor Luigi Ferrari. G Square, a healthcare-focused sponsor led by Dr Laurent Ganem, is the current owner and no exit or secondary transaction has been recorded since the 2025 investment.

Under PE ownership

The 2025 investment was framed around a next phase of growth, with the sponsor citing G21's entrepreneurial culture and the scope to build on its innovation to date. The stated priorities are accelerating international expansion, with a particular focus on the United States, strengthening the global distribution network and delivering an enriched research and development pipeline. G Square's healthcare specialism and international footprint were positioned as the levers to extend G21's reach beyond its existing 55-country base. As the transaction closed only in mid-2025, operating outcomes under the new ownership are not yet documented in public sources.