Enovis is a medical technology company that makes and sells orthopedic devices across two segments: Reconstructive (~60% of revenue) and Prevention & Recovery (~40% of revenue). The Recon segment focuses on joint replacement and limb reconstruction, selling implants, instrumentation, and enabling technologies for shoulder, hip, knee, and extremity procedures directly to orthopedic surgeons and hospitals. Key products include the AltiVate shoulder system, the Nebula hip stem, the EMPOWR knee system, and Arvis, an augmented reality surgical guidance platform. The P&R segment covers non-surgical orthopedic care, including rigid and soft bracing, bone growth stimulators, hot/cold therapy, and physical therapy products, sold to orthopedic specialists, physical therapists, and retail consumers. In Recon, Enovis follows a classic med-tech model: placing instrument sets and enabling technology in surgical facilities to lock in surgeons, then generating recurring revenue through implant sales. P&R revenue is driven by patient volumes and reimbursement rates for durable medical equipment. Enovis' growth strategy centers on new product launches, international expansion (aided by the 2023 Lima acquisition), and portfolio shaping through divestitures of lower-growth P&R businesses. Capital allocation is currently focused on debt reduction before broader M&A or buybacks.