Enovis (ENOV) 10-Q 6 Nov 24 2024 Q3 Quarterly report Financial data

COVER PAGE

COVER PAGE - shares	9 Months Ended
	Sep. 27, 2024	Nov. 01, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 27, 2024
Document Transition Report	false
Entity File Number	001-34045
Entity Registrant Name	Enovis Corp
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	54-1887631
Entity Address, Address Line One	2711 Centerville Road,
Entity Address, Address Line Two	Suite 400
Entity Address, City or Town	Wilmington,
Entity Address, State or Province	DE
Entity Address, Postal Zip Code	19808
City Area Code	(302)
Local Phone Number	252-9160
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	ENOV
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		55,875,456
Entity Central Index Key	0001420800
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2024

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Income Statement [Abstract]
Net sales	$ 505,222	$ 417,524	$ 1,546,648	$ 1,252,177
Cost of sales	218,763	174,558	673,410	525,787
Gross profit	286,459	242,966	873,238	726,390
Selling, general and administrative expense	249,854	204,248	769,645	619,294
Research and development expense	20,491	19,901	67,347	57,012
Amortization of acquired intangibles	42,786	33,967	124,653	98,256
Restructuring and other charges	5,065	5,342	22,563	11,782
Operating loss	(31,737)	(20,492)	(110,970)	(59,954)
Interest expense, net	11,066	5,768	48,031	15,496
Other (income) expense, net	(202)	(757)	(9,803)	(665)
Loss from continuing operations before income taxes	(42,601)	(25,503)	(149,198)	(74,785)
Income tax benefit	(9,096)	(6,052)	(25,408)	(17,878)
Net loss from continuing operations	(33,505)	(19,451)	(123,790)	(56,907)
Income from discontinued operations, net of taxes	2,243	16,611	2,175	21,096
Net loss	(31,262)	(2,840)	(121,615)	(35,811)
Less: net income attributable to noncontrolling interest from continuing operations - net of taxes	259	40	542	414
Net loss attributable to Enovis Corporation	$ (31,521)	$ (2,880)	$ (122,157)	$ (36,225)
Earnings Per Share, Basic [Abstract]
Net income (loss) per share, continuing operations, basic (in usd per share)	$ (0.61)	$ (0.36)	$ (2.26)	$ (1.05)
Net income (loss) per share, continuing operations, diluted (in usd per share)	(0.61)	(0.36)	(2.26)	(1.05)
Net income (loss) per share, discontinued operations, basic (in usd per share)	0.04	0.30	0.04	0.39
Net income (loss) per share, discontinued operations, diluted (in usd per share)	0.04	0.30	0.04	0.39
Net income (loss) per share, consolidated, basic (in usd per share)	(0.58)	(0.05)	(2.23)	(0.67)
Net income (loss) per share, consolidated, diluted (in usd per share)	$ (0.58)	$ (0.05)	$ (2.23)	$ (0.67)

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Statement of Comprehensive Income [Abstract]
Net loss	$ (31,262)	$ (2,840)	$ (121,615)	$ (35,811)
Other comprehensive income (loss):
Foreign currency translation	76,664	(18,057)	6,966	3,838
Unrealized gain (loss) on hedging activities, net of tax expense (benefit) of $(16,763), $1,009, $(11,028) and $(731)	(54,213)	3,159	(36,006)	(2,290)
Amounts reclassified from Accumulated other comprehensive loss:
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, after Tax	(36)	(339)	(104)	(1,221)
Reclassification of hedging gain (loss), net of tax expense (benefit) of $(162), $—, $(262), and $—	(536)	168	(894)	168
Other comprehensive income (loss)	21,879	(15,069)	(30,038)	495
Comprehensive loss	(9,383)	(17,909)	(151,653)	(35,316)
Less: comprehensive income (loss) attributable to noncontrolling interest	359	(12)	574	394
Comprehensive loss attributable to Enovis Corporation	$ (9,742)	$ (17,897)	$ (152,227)	$ (35,710)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) [Parenthetical] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Statement of Comprehensive Income [Abstract]
Unrealized gain (loss) on hedging activities, tax (benefit)	$ (16,763)	$ 1,009	$ (11,028)	$ (731)
Amortization of pension net actuarial gain (loss), tax (benefit)	(8)	(75)	(22)	(116)
Reclassification of hedging gain (loss), (benefit) tax	$ (162)	$ 0	$ (262)	$ 0

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 27, 2024	Dec. 31, 2023
ASSETS
Cash and cash equivalents	$ 35,425	$ 36,191
Trade receivable, less allowance for credit losses	400,216	291,483
Inventories, net	609,665	468,832
Prepaid expenses	45,587	28,901
Other current assets	112,172	71,112
Total current assets	1,203,065	896,519
Property, plant and equipment, net	403,250	270,798
Goodwill	2,393,691	2,060,893
Intangible assets, net	1,396,428	1,127,363
Lease asset - right of use	63,387	63,506
Other assets	90,320	90,255
Total assets	5,550,141	4,509,334
LIABILITIES AND EQUITY
Current portion of long-term debt	20,029	0
Accounts payable	158,037	132,475
Accrued liabilities	352,156	237,132
Total current liabilities	530,222	369,607
Long-term debt, less current portion	1,325,440	466,164
Non-current lease liability	47,420	48,684
Other liabilities	313,760	204,178
Total liabilities	2,216,842	1,088,633
Equity:
Common stock, $0.001 par value; 133,333,333 shares authorized; 55,866,099 and 54,597,142 shares issued and outstanding as of September 27, 2024 and December 31, 2023, respectively	56	55
Additional paid-in capital	2,964,997	2,900,747
Retained earnings	420,314	542,471
Accumulated other comprehensive loss	(54,951)	(24,881)
Total Enovis Corporation equity	3,330,416	3,418,392
Noncontrolling interest	2,883	2,309
Total equity	3,333,299	3,420,701
Total liabilities and equity	$ 5,550,141	$ 4,509,334

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS [Parenthetical] - USD ($) $ in Thousands	Sep. 27, 2024	Dec. 31, 2023
Condensed Consolidated Balance Sheet (Parenthetical) [Abstract]
Trade receivables, allowance for doubtful accounts	$ 23,564	$ 9,731
Common Stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common Stock, Shares Authorized	133,333,333	133,333,333
Common Stock, Shares, Issued	55,866,099	54,597,142
Common Stock, Shares, Outstanding	55,866,099	54,597,142

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENT OF EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Noncontrolling Interest
Balance, beginning at Dec. 31, 2022	$ 3,449,801	$ 54	$ 2,925,729	$ 575,732	$ (53,430)	$ 1,716
Balance, beginning (in shares) at Dec. 31, 2022		54,228,619
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(23,158)			(23,350)		192
Other comprehensive (loss) income, net of tax	10,584				10,560	24
Common stock-based award activity (in shares)		264,535
Common stock-based award activity	8,044		8,044
Balance, ending at Mar. 31, 2023	3,445,271	$ 54	2,933,773	552,382	(42,870)	1,932
Balance, ending (in shares) at Mar. 31, 2023		54,493,154
Balance, beginning at Dec. 31, 2022	3,449,801	$ 54	2,925,729	575,732	(53,430)	1,716
Balance, beginning (in shares) at Dec. 31, 2022		54,228,619
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(35,811)
Other comprehensive (loss) income, net of tax	495
Balance, ending at Sep. 29, 2023	3,441,732	$ 55	2,952,975	539,507	(52,915)	2,110
Balance, ending (in shares) at Sep. 29, 2023		54,564,997
Balance, beginning at Mar. 31, 2023	3,445,271	$ 54	2,933,773	552,382	(42,870)	1,932
Balance, beginning (in shares) at Mar. 31, 2023		54,493,154
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(9,813)			(9,995)		182
Other comprehensive (loss) income, net of tax	4,980				4,972	8
Common stock-based award activity (in shares)		40,957
Common stock-based award activity	10,322	$ 1	10,321
Balance, ending at Jun. 30, 2023	3,450,760	$ 55	2,944,094	542,387	(37,898)	2,122
Balance, ending (in shares) at Jun. 30, 2023		54,534,111
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(2,840)			(2,880)		40
Other comprehensive (loss) income, net of tax	(15,069)				(15,017)	(52)
Common stock-based award activity (in shares)		30,886
Common stock-based award activity	8,881		8,881
Balance, ending at Sep. 29, 2023	3,441,732	$ 55	2,952,975	539,507	(52,915)	2,110
Balance, ending (in shares) at Sep. 29, 2023		54,564,997
Balance, beginning at Dec. 31, 2023	3,420,701	$ 55	2,900,747	542,471	(24,881)	2,309
Balance, beginning (in shares) at Dec. 31, 2023		54,597,142
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(71,841)			(71,998)		157
Other comprehensive (loss) income, net of tax	(40,548)				(40,497)	(51)
Payments of tax withholding for stock-based awards	(4,772)		(4,772)
Common stock-based award activity (in shares)		243,439
Common stock-based award activity	7,302		7,302
Balance, ending at Mar. 29, 2024	3,310,842	$ 55	2,903,277	470,473	(65,378)	2,415
Balance, ending (in shares) at Mar. 29, 2024		54,840,581
Balance, beginning at Dec. 31, 2023	3,420,701	$ 55	2,900,747	542,471	(24,881)	2,309
Balance, beginning (in shares) at Dec. 31, 2023		54,597,142
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(121,615)
Other comprehensive (loss) income, net of tax	(30,038)
Balance, ending at Sep. 27, 2024	3,333,299	$ 56	2,964,997	420,314	(54,951)	2,883
Balance, ending (in shares) at Sep. 27, 2024		55,866,099
Balance, beginning at Mar. 29, 2024	3,310,842	$ 55	2,903,277	470,473	(65,378)	2,415
Balance, beginning (in shares) at Mar. 29, 2024		54,840,581
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(18,512)			(18,638)		126
Other comprehensive (loss) income, net of tax	(11,369)				(11,352)	(17)
Common stock-based award activity (in shares)		25,779
Common stock-based award activity	7,977		7,977
Balance, ending at Jun. 28, 2024	3,288,938	$ 55	2,911,254	451,835	(76,730)	2,524
Balance, ending (in shares) at Jun. 28, 2024		54,866,360
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(31,262)			(31,521)		259
Other comprehensive (loss) income, net of tax	21,879				21,779	100
Common stock issued for acquisition (in shares)		971,343
Common stock issued for acquisition	45,575	$ 1	45,574
Common stock-based award activity (in shares)		28,396
Common stock-based award activity	8,169		8,169
Balance, ending at Sep. 27, 2024	$ 3,333,299	$ 56	$ 2,964,997	$ 420,314	$ (54,951)	$ 2,883
Balance, ending (in shares) at Sep. 27, 2024		55,866,099

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENT OF EQUITY Statement of Stockholders' Equity [Parenthetical] - USD ($) $ in Thousands	3 Months Ended
	Sep. 27, 2024	Jun. 28, 2024	Mar. 29, 2024	Sep. 29, 2023	Jun. 30, 2023	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Other comprehensive income (loss), tax (benefit)	$ 16,933	$ (2,131)	$ (7,752)	$ (934)	$ 1,781	$ 0

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023
Cash flows from operating activities:
Net income (loss)	$ (121,615)	$ (35,811)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	210,394	160,493
Impairment of assets	5,555	0
Stock-based compensation expense	21,928	25,758
Non-cash interest expense	3,539	2,117
Fair value gain on contingent acquisition shares	(19,922)	0
Loss on currency hedges	11,123	0
Deferred income tax benefit	(29,472)	(20,612)
Loss on sale of property, plant and equipment	(2,116)	(14,832)
Changes in operating assets and liabilities:
Trade receivables, net	(29,187)	(6,527)
Inventories, net	(2,844)	(29,917)
Accounts payable	(11,503)	(12,379)
Other operating assets and liabilities	(10,706)	(1,717)
Net cash provided by operating activities	25,174	66,573
Cash flows from investing activities:
Purchases of property, plant and equipment and intangibles	(127,522)	(94,279)
Proceeds from sale of property, plant and equipment	0	42,571
Payments for acquisitions, net of cash received, and investments	(765,422)	(131,387)
Payment for settlement of derivatives	(4,645)	0
Net cash used in investing activities	(897,589)	(183,095)
Cash flows from financing activities:
Proceeds from borrowings on term credit facility	400,000	0
Repayments of borrowings under term credit facility	(15,000)	(219,468)
Proceeds from borrowings on revolving credit facilities and other	940,000	400,000
Repayments of borrowings on revolving credit facilities and other	(447,005)	(47,345)
Payment of debt issuance costs	(703)	(8,000)
Payments of tax withholding for stock-based awards	(4,772)	0
Proceeds from issuance of common stock, net	1,555	1,489
Deferred consideration payments and other	(7,174)	(1,668)
Net cash provided by financing activities	866,901	125,008
Effect of foreign exchange rates on Cash and cash equivalents	480	(652)
Increase (decrease) in Cash, cash equivalents and restricted cash	(5,034)	7,834
Cash, cash equivalents and restricted cash, beginning of period	44,832	24,295
Cash, cash equivalents and restricted cash, end of period	39,798	32,129
Supplemental disclosures - Non-cash investing activities:
Fair value of contingently issuable shares in business acquisition	$ 107,877	$ 0

General

General	9 Months Ended
	Sep. 27, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General	General Enovis Corporation (the “Company” or “Enovis”) is an innovation-driven medical technology growth company dedicated to developing clinically differentiated solutions that generate measurably better patient outcomes and transform workflows. The Company conducts its business through two operating segments, Prevention & Recovery (“P&R”) and Reconstructive (“Recon”). The P&R segment provides orthopedic and recovery science solutions, including devices, software, and services across the patient care continuum from injury prevention to rehabilitation after surgery, injury, or from degenerative disease. The Recon segment provides surgical implant solutions, offering a comprehensive suite of reconstructive joint products for the hip, knee, shoulder, elbow, foot, ankle, and finger and surgical productivity tools. The Condensed Consolidated Financial Statements included in this quarterly report have been prepared by the Company in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) and accounting principles generally accepted in the United States of America (“GAAP”) for interim financial statements and reflect, in the opinion of management, all adjustments, which consist solely of normal recurring adjustments, necessary to present fairly the Company’s financial position and results of operations as of and for the periods indicated. The Condensed Consolidated Balance Sheet as of December 31, 2023 is derived from the Company’s audited financial statements. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted in accordance with the SEC’s rules and regulations for interim financial statements. The Condensed Consolidated Financial Statements included herein should be read in conjunction with the audited financial statements and related footnotes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 (the “2023 Form 10-K”), filed with the SEC on February 22, 2024. The Company makes certain estimates and assumptions in preparing its Condensed Consolidated Financial Statements in accordance with GAAP. These estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities as of the date of the Condensed Consolidated Financial Statements, and the reported amounts of revenues and expenses for the periods presented. Actual results may differ from those estimates. During the three months ended September 27, 2024, due to a decrease in the share price of our common stock and market capitalization, the Company identified a possible impairment indicator as of September 27, 2024 and determined it was appropriate to perform interim quantitative assessments of Goodwill for the Reconstructive and Prevention & Recovery reporting units. Based on these assessments, no impairment was identified.

Recently Issued Accounting Pron

Recently Issued Accounting Pronouncements	9 Months Ended
	Sep. 27, 2024
Accounting Policies [Abstract]
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements The Company has not adopted any new accounting standards during the nine months ended September 27, 2024. There are no recently issued accounting pronouncements that are expected to have a material effect on the Company’s financial position, results of operations or cash flows.

Acquisitions and Investments

Acquisitions and Investments	9 Months Ended
	Sep. 27, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Acquisitions and Investments	Acquisitions and Investments Lima Acquisition in 2024 On January 3, 2024, the Company acquired LimaCorporate S.p.A. (“Lima”), a privately held global orthopedic company, at an enterprise value of €800 million (the “Lima Acquisition”), consisting of (i) approximately €700 million in cash consideration, which includes the repayment at closing of certain indebtedness of Lima and (ii) 1,942,686 shares of common stock of Enovis, par value $0.001 per share (the “Contingent Acquisition Shares”), based upon a €100 million value divided by the thirty-day volume weighted average price of Enovis common stock as of the close of business on September 21, 2023. The Contingent Acquisition Shares are issuable in two equal tranches within six Lima operates in the reconstructive space of patient care, providing tailored hardware and digital innovation to advance a global standard of care and positive patient outcomes. Lima has approximately 1,000 employees across more than 15 locations around the world. The Lima Acquisition extends the Company’s current footprint to emerging and growing markets, expands its product lines, and strengthens its global innovation platform. The value included as Goodwill for the Lima acquisition is reflective of these expected benefits in conjunction with anticipated synergies as the Company uses its integration experience effectively to drive further operating improvement, margin expansion, and long-term growth. Enovis uses its experience and EGX business management system, a comprehensive set of tools and repeatable, teachable processes, to integrate acquisitions and create superior value for its customers, shareholders and associates. The Company incurred $9.7 million of advisory, legal, audit, valuation and other professional service fees in connection with the Lima Acquisition in the first quarter of 2024, which are included in Selling, general and administrative expense in the Condensed Consolidated Statement of Operations. The Lima Acquisition was accounted for as a business combination using the acquisition method of accounting and accordingly, the Condensed Consolidated Financial Statements include the financial position and results of operations from the date of acquisition. The following unaudited proforma financial information presents Enovis’s consolidated financial information assuming the acquisition had taken place on January 1, 2023. These amounts are presented in accordance with GAAP, consistent with the Company’s accounting policies. Three Months Ended Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 (In thousands) Net Sales $ 505,222 $ 483,001 $ 1,546,648 $ 1,469,691 Net loss from continuing operations attributable to Enovis (23,094) (47,741) (110,519) (147,926) The following table summarizes the Company’s provisional estimate of the aggregate fair value of the assets acquired and liabilities assumed at the date of acquisition. These amounts, including inventories, deferred taxes, intangible assets, useful lives of the intangible assets, and property, plant and equipment, are determined based upon certain valuations and studies that have yet to be finalized. Accordingly, the assets acquired and liabilities assumed, as detailed below, are subject to adjustment once the detailed analyses are completed, which could be material. Substantially all of the Goodwill recognized is not expected to be deductible for income tax purposes. January 3, 2024 (In thousands) Trade receivables $ 79,710 Inventories 133,547 Property, plant and equipment 123,093 Goodwill 326,158 Intangible assets 363,000 Accounts payable (36,871) Accrued liabilities (51,642) Other assets and liabilities, net (71,411) Total fair value of consideration, net of acquired cash 865,584 Less: fair value of Contingent Acquisition Shares (107,877) Acquisition consideration paid, net of acquired cash $ 757,707 The following summarizes the preliminary values of the Intangible assets acquired, excluding Goodwill, as of September 27, 2024: Intangible Asset Weighted Average Amortization Period (Years) Trademarks $ 50,000 20 Customer Relationships 148,000 15 Acquired technology 165,000 15 Total Intangible Assets $ 363,000 During the three and nine months ended September 27, 2024, the Company’s Condensed Consolidated Statements of Operations included $68.4 million and $237.6 million, of net sales and $4.0 million and $15.9 million of net loss, respectively, associated with the acquired Lima legal entities. 2023 Acquisitions On June 28, 2023, the Company completed the acquisition of Novastep SAS (“Novastep”) in its Recon segment. Novastep is a leading player in Minimally Invasive Surgery (MIS) foot and ankle solutions with a best-in-class MIS bunion system serving a rapidly growing portion of the global bunion segment. The acquisition is accounted for as a business combination using the acquisition method of accounting, and accordingly, the Consolidated Financial Statements include the financial position and results of operations from the acquisition date. The Company paid $96.9 million for the acquisition, net of cash received. The Company allocated $43.7 million to goodwill and $52.0 million to intangible assets acquired. The purchase accounting related to the Novastep acquisition has been completed. The acquired goodwill value is primarily driven by the expected synergies from cross-selling Novastep products to existing Enovis foot & ankle customers. The acquisition broadens our reconstructive product offerings for the foot and ankle market and expands our customer base in Europe. On July 20, 2023, the Company completed an asset acquisition transaction with D.N.E., LLC (“DNE”) in its Recon segment. DNE is a developer of a broad line of external fixation products, including circular frames, pin-to-bar frames, and mini-fixators for use in foot and ankle surgeries. The acquisition of these assets, primarily the developed technology will allow Enovis to expand its robust product portfolio for the Foot & Ankle business unit. The Company paid $28.2 million for the asset acquisition and assigned $25.8 million to intangible assets, $1.9 million to finished goods inventory and $0.5 million to property, plant and equipment. The Condensed Consolidated Financial Statements include the financial position and results of operations from the acquisition date. On October 5, 2023, the Company acquired a 100% interest in Precision AI Pty Ltd (“Precision AI”), a developer of surgical planning software. The transaction was accounted for as an asset acquisition. The acquisition complements the Company’s current product offerings in its Recon segment with advanced planning software for shoulder surgery and opportunity to expand to additional anatomies. On the acquisition date, the Company paid $17.6 million, net of cash received and agreed to make contingent payments of approximately $12.0 million upon the successful completion of three milestones. The milestones are based on FDA approvals and user validation testing of the software. In December 2023, the first milestone was achieved and the Company paid $4.2 million to the seller. In August 2024, the second milestone was achieved and the Company paid $4.2 million to the seller. The third milestone completion date was extended into the first quarter of 2025. As of September 27, 2024, the total intangible asset recorded for this acquisition is $33.5 million. The remaining contingent amount is held in escrow by Enovis as restricted cash and presented in Other current assets in the Condensed Consolidated Balance Sheet. The Company has control over these funds and is required to authorize the transfer upon completion of the milestones. The potential additional contingent payments are not recorded until the milestones are achieved. The Condensed Consolidated Financial Statements include the assets acquired and results of operations from the acquisition date. Restricted Cash Cash and cash equivalents that are restricted as to withdrawal or use under the terms of certain contractual agreements are excluded from Cash and cash equivalents in the Condensed Consolidated Balance Sheets. Restricted cash is recorded as a component of Other current assets on the Condensed Consolidated Balance Sheets. The balance in restricted cash as of September 27, 2024 and December 31, 2023 is related to the acquisition of Precision AI which closed in the fourth quarter of 2023 and will be released to the seller within one year of the acquisition date upon completion of certain milestones. The following table summarizes the Company’s cash, cash equivalents and restricted cash: September 27, 2024 December 31, 2023 (In thousands) Cash and cash equivalents $ 35,425 $ 36,191 Restricted cash 4,373 8,641 Total cash and cash equivalents and restricted cash $ 39,798 $ 44,832 Investments As of September 27, 2024, the balance of investments held by the Company without readily determinable fair values was $20.4 million. The majority of these investments are carried at cost less impairments, if any, plus adjustments for fair value indicators from observable price changes in orderly transactions for the identical or similar investment of the same issuer. There have been no impairments or upward adjustments in the current year or since acquisition of these investments. One investment is accounted for under the equity method of accounting and is recorded at the initial investment amount, adjusted each period for the Company’s share of the income or loss.

Revenue

Revenue	9 Months Ended
	Sep. 27, 2024
Revenue [Abstract]
Revenue	Revenue The Company provides orthopedic solutions, including products and services spanning the full continuum of patient care, from injury prevention to rehabilitation. While the Company’s sales are primarily derived from three sales channels including dealers and distributors, insurance, and direct to consumers and hospitals, substantially all of the Company’s revenue is recognized at a point in time. The Company disaggregates its revenue into the following geographic/product type groups within its segments: Three Months Ended Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 (In thousands) Prevention & Recovery: U.S. Bracing & Support $ 123,021 $ 118,384 $ 345,132 $ 337,722 U.S. Other P&R 66,196 68,217 200,496 198,293 International P&R 85,027 83,686 265,383 258,487 Total Prevention & Recovery 274,244 270,287 811,011 794,502 Reconstructive: U.S. Recon 120,811 99,720 366,608 309,358 International Recon 110,167 47,517 369,029 148,317 Total Reconstructive 230,978 147,237 735,637 457,675 Total $ 505,222 $ 417,524 $ 1,546,648 $ 1,252,177 Given the nature of its businesses, the Company does not generally have unsatisfied performance obligations with an original contract duration of greater than one year. The nature of the Company’s contracts gives rise to certain types of variable consideration, including rebates, implicit price concessions, and other discounts. The Company includes estimated amounts of variable consideration in the transaction price to the extent that it is probable there will not be a significant reversal of revenue. Allowance for Credit Losses The Company’s estimate of current expected credit losses on trade receivables considers historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts. In calculating and applying its current expected credit losses, the Company disaggregates trade receivables into business segments due to risk characteristics unique to each segment given the individual lines of business and market. The business segments are further disaggregated based on either geography or product type. The Company uses a loss rate methodology in calculating its current expected credit losses, considering historical write-offs over a defined lookback period in deriving a historical loss rate. The expected credit loss model considers current conditions and reasonable and supportable forecasts for current and projected macroeconomic factors. A summary of the activity in the Company’s allowance for credit losses included within Trade receivables in the Condensed Consolidated Balance Sheets is as follows: Nine Months Ended September 27, 2024 Balance at Charged to Expense, net Write-Offs, Deductions, net Other Activity, net (1) Foreign Balance at (In thousands) Allowance for Credit Losses $ 9,731 $ 7,228 $ (1,997) $ 8,569 $ 33 $ 23,564 (1) Represents fair value adjustments related to acquisitions

Net Income (Loss) Per Share fro

Net Income (Loss) Per Share from Continuing Operations	9 Months Ended
	Sep. 27, 2024
Earnings Per Share [Abstract]
Net Income (Loss) Per Share from Continuing Operations	Net Income (Loss) Per Share from Continuing Operations Net income (loss) per share from continuing operations was computed using the treasury stock method as follows: Three Months Ended Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 (In thousands, except share and per share data) Computation of Net income (loss) per share from continuing operations - basic: Net income (loss) from continuing operations attributable to Enovis Corporation (1) $ (33,764) $ (19,491) $ (124,332) $ (57,321) Weighted-average shares of Common stock outstanding – basic 55,665,527 54,549,369 55,072,194 54,462,319 Net income (loss) per share from continuing operations – basic $ (0.61) $ (0.36) $ (2.26) $ (1.05) Computation of Net income (loss) per share from continuing operations - diluted: Net income (loss) from continuing operations attributable to Enovis Corporation (1) $ (33,764) $ (19,491) $ (124,332) $ (57,321) Weighted-average shares of Common stock outstanding – basic 55,665,527 54,549,369 55,072,194 54,462,319 Net effect of potentially dilutive securities - stock options and restricted stock units — — — — Weighted-average shares of Common stock outstanding – diluted 55,665,527 54,549,369 55,072,194 54,462,319 Net income (loss) per share from continuing operations – diluted $ (0.61) $ (0.36) $ (2.26) $ (1.05) (1) Net income (loss) from continuing operations attributable to Enovis Corporation for the respective periods is calculated using Net income (loss) from continuing operations less the continuing operations component of the income attributable to noncontrolling interest, net of taxes. The following weighted average computations of potentially dilutive shares of Common stock from stock-based compensation awards were excluded from the calculation of Weighted-average shares of Common stock outstanding – diluted as inclusion would be anti-dilutive in Net income (loss) per share: Three Months Ended Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 Weighted average computation of potentially dilutive shares of Common stock excluded from diluted computation, as inclusion would be anti-dilutive 1,720,628 1,073,464 1,311,385 1,127,227 In conjunction with the Lima Acquisition, the Company agreed to a contingent issuance of 1,942,686 Contingent Acquisition Shares in two equal tranches within six

Income Taxes

Income Taxes	9 Months Ended
	Sep. 27, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Three Months Ended Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 (In thousands) Loss from continuing operations before income taxes $ (42,601) $ (25,503) $ (149,198) $ (74,785) Income tax benefit $ (9,096) $ (6,052) $ (25,408) $ (17,878) Effective tax rate: 21.4 % 23.7 % 17.0 % 23.9 % The effective tax rate for the three months ended September 27, 2024 was higher than the 2024 federal statutory rate of 21%, primarily due to tax credits for research and development, non-U.S. income taxed at lower rates, non-taxable fair value gain on the Contingent Acquisition Shares, and release of uncertain tax positions. This was partially offset by an increase in valuation allowance on interest limitation carryforwards, non-deductible expenses, and U.S. taxation on international operations. The effective tax rate for the nine months ended September 27, 2024 was lower than the 2024 federal statutory rate of 21%, primarily due to an increase in valuation allowance on interest limitation carryforwards, non-deductible expenses, and U.S. taxation on international operations. This was partially offset by tax credits for research and development, non-U.S. income taxed at lower rates, and non-taxable fair value gain on the Contingent Acquisition Shares. The effective tax rate for the three and nine months ended September 29, 2023 was higher than the 2023 U.S. federal statutory rate of 21%, primarily due to non-U.S. income being taxed at lower rates, the release of a valuation allowance on non-U.S. attributes, tax credits for research and development, and release of uncertain tax positions. This was partially offset by other non-deductible expenses and the U.S. taxation on international operations.

Equity

Equity	9 Months Ended
	Sep. 27, 2024
Equity [Abstract]
Equity	7. Equity Share Repurchase Program In 2018, the Company’s Board of Directors authorized the repurchase of shares of the Company’s Common stock from time-to-time on the open market or in privately negotiated transactions. No repurchases of the Company’s Common stock have been made under this plan since the third quarter of 2018. As of September 27, 2024, the remaining stock repurchase authorization provided by the Board of Directors was $100 million. The timing, amount and method of shares repurchased is determined by management based on its evaluation of market conditions and other factors. There is no term associated with the remaining repurchase authorization. Accumulated Other Comprehensive Income (Loss) The following tables present the changes in the balances of each component of Accumulated other comprehensive income (loss) including reclassifications out of Accumulated other comprehensive loss for the nine months ended September 27, 2024 and September 29, 2023. All amounts are presented net of tax and noncontrolling interest, if any. Accumulated Other Comprehensive Loss Components Net Unrecognized Pension Benefit Cost Foreign Currency Translation Adjustment Unrealized Gain (Loss) on Hedging Activities Total (In thousands) Balance at January 1, 2024 $ 5,008 $ (2,016) $ (27,873) $ (24,881) Other comprehensive income (loss) before reclassifications: Foreign currency translation adjustment 3 6,931 — 6,934 Loss on hedge activity — — (36,006) (36,006) Other comprehensive income (loss) before reclassifications 3 6,931 (36,006) (29,072) Amounts reclassified from Accumulated other comprehensive income (loss) (104) — (894) (998) Net Other comprehensive income (loss) (101) 6,931 (36,900) (30,070) Balance at September 27, 2024 $ 4,907 $ 4,915 $ (64,773) $ (54,951) Accumulated Other Comprehensive Loss Components Net Unrecognized Pension Benefit Cost Foreign Currency Translation Adjustment Unrealized Loss on Hedging Activities Total (In thousands) Balance at January 1, 2023 $ 12,207 $ (65,637) $ — $ (53,430) Other comprehensive income (loss) before reclassifications: Foreign currency translation adjustment 108 3,750 — 3,858 Loss on hedge activity — — (2,290) (2,290) Other comprehensive income (loss) before reclassifications 108 3,750 (2,290) 1,568 Amounts reclassified from Accumulated other comprehensive income (loss) (1,221) — 168 (1,053) Net Other comprehensive income (loss) (1,113) 3,750 (2,122) 515 Balance at September 29, 2023 $ 11,094 $ (61,887) $ (2,122) $ (52,915)

Inventories, Net

Inventories, Net	9 Months Ended
	Sep. 27, 2024
Inventory Disclosure [Abstract]
Inventories, Net	Inventories, Net Inventories, net consisted of the following: September 27, 2024 December 31, 2023 (In thousands) Raw materials $ 94,995 $ 88,129 Work in process 48,533 39,310 Finished goods 536,327 406,931 679,855 534,370 Less: Allowance for excess, slow-moving and obsolete inventory (70,190) (65,538) $ 609,665 $ 468,832

Debt

Debt	9 Months Ended
	Sep. 27, 2024
Debt Disclosure [Abstract]
Debt	Debt Long-term debt consisted of the following: September 27, 2024 December 31, 2023 (In thousands) Term loan $ 382,037 $ — Senior unsecured convertible notes 448,306 446,164 Revolving credit facilities and other 515,126 20,000 Total debt 1,345,469 466,164 Less: current portion (20,029) — Long-term debt $ 1,325,440 $ 466,164 Term Loan and Revolving Credit Facility On April 4, 2022, the Company entered into a credit agreement (the “Enovis Credit Agreement”), consisting of a $900 million revolving credit facility (the “Revolver”) with an April 4, 2027 maturity date and an initial term loan in the aggregate principal amount of $450 million (the “2022 Term Loan”) which was fully extinguished during the first quarter of 2023. The Revolver contains a $50 million swing line loan sub-facility. Certain U.S. subsidiaries of the Company guarantee the obligations under the Enovis Credit Agreement. The agreement was amended on October 23, 2023, in conjunction with the financing of the Lima Acquisition as further discussed below. The Enovis Credit Agreement, as amended, contains customary covenants limiting the ability of the Company and its subsidiaries to, among other things, incur debt or liens, merge or consolidate with others, dispose of assets, make investments, or pay dividends. In addition, the Enovis Credit Agreement contains financial covenants requiring the Company to maintain (i) a maximum senior secured leverage ratio of not more than 3.50:1.00 for the fiscal quarter ending June 30, 2024 and thereafter, and (ii) a minimum interest coverage ratio of 3.00:1:00. The Enovis Credit Agreement contains various events of default (including failure to comply with the covenants under the Enovis Credit Agreement and related agreements), and upon an event of default the lenders may, subject to various customary cure rights, require the immediate payment of all amounts outstanding under the Enovis Credit Agreement. As of September 27, 2024, the Company was in compliance with the covenants under the Enovis Credit Agreement. As of September 27, 2024, the weighted-average interest rate of borrowings under the Enovis Credit Agreement was 7.16% excluding accretion of deferred financing fees, and there was $385 million available on the Revolver. Financing for Lima Acquisitio n On October 23, 2023 the Company entered into an amendment to the Enovis Credit Agreement (the “Amendment”), which provided for a new term loan commitment in the aggregate amount of $400 million. The term loan facility extended to the Company under the Amendment was funded on January 3, 2024, the date the Lima Acquisition was consummated. The term loan requires quarterly principal repayments at 1.25% of the initial aggregate principal amount, which is $5 million each quarter, and matures on April 4, 2027 (the “2024 Term Loan”). Pursuant to the Amendment, effective as of the date of consummation of the Lima Acquisition, (i) all facilities under the Enovis Credit Agreement (including the 2024 Term Loan) became secured by certain personal property of the Company and certain of its subsidiaries, subject to limitations and exclusions; (ii) the financial covenant under the Enovis Credit Agreement was adjusted to a new senior secured leverage ratio (as disclosed above); (iii) certain changes to the negative covenants became effective (including restrictions on repayments of junior financing and amendments to junior financing documents); and (iv) certain additional changes were implemented (including the removal of the guaranty fallaway provision). On October 24, 2023, the Company issued $460 million aggregate principal amount of senior unsecured convertible notes in a private placement pursuant to Rule 144A (the “2028 Notes”). The 2028 Notes have an interest rate of 3.875%, payable semiannually in arrears on April 15 and October 15 of each year, beginning April 15, 2024 and will mature on October 15, 2028 unless earlier repurchased, redeemed, or converted. The effective interest rate on the 2028 Notes is 4.6%. For the nine months ended September 27, 2024, the interest expense on the 2028 Notes was $15.1 million, including $13.2 million based upon the coupon rate and $1.9 million from accretion of the discount. Holders may convert their 2028 Notes in multiples of $1,000 principal amount prior to the close of business April 15, 2028 under the following circumstances: (i) during any calendar quarter commencing after the calendar quarter ending on December 31, 2023 (and only during such calendar quarter), if the last reported sale price of the Company’s common stock for at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (ii) during the five business day period after any five consecutive trading day period (the “measurement period”) in which the “trading price” per $1,000 principal amount of 2028 Notes, as determined following a request by a holder of 2028 Notes in accordance with the procedures described in the 2028 Note indenture, for each trading day of the measurement period was less than 98% of the product of the last reported sale price of the Company’s common stock and the conversion rate on each such trading day; (iii) if the Company calls any or all of the 2028 Notes for redemption, at any time prior to the close of business on the second scheduled trading day immediately preceding the redemption date; or (iv) upon the occurrence of specified corporate events as described in the indenture governing the 2028 Notes. In addition, holders may convert their 2028 Notes, in multiples of $1,000 principal amount, at their option at any time beginning on or after April 15, 2028 until the close of business on the second scheduled trading day immediately preceding the maturity date, regardless of the foregoing circumstances. The conversion rate is 17.1474 shares of common stock per $1,000 principal amount of 2028 Notes (equivalent to an initial conversion price of approximately $58.32 per share of common stock), subject to adjustment upon the occurrence of certain specified events as set forth in the indenture governing the 2028 Notes. Upon conversion, the Company will pay cash up to the aggregate principal amount of the 2028 Notes to be converted and pay or deliver, as the case may be, cash, shares of common stock or a combination of cash and shares of common stock, at its election, in respect of the remainder. There has been no redemptions or conversions of the 2028 Notes. On October 24, 2023, the Company also entered into privately negotiated capped call transactions with certain of the initial purchasers of the 2028 Notes and paid $62 million to the counterparties. The capped call transactions are intended generally to mitigate potential dilution to the Company’s common stock upon conversion of any Notes and/or offset any cash payments the Company is required to make in excess of the principal amount of converted Notes, as the case may be, with such reduction and/or offset subject to a cap. If, however, the market price per share of common stock exceeds $89.72, the initial cap price of the capped call transactions, there would be a dilutive effect and/or no offset of any cash payments, in each case, attributable to the amount by which the market price of the common stock exceeds the cap price. The capped call payment was classified as equity since it meets the derivative scope exception included in Accounting Standards Codification Topic 815 Derivatives and Hedging. Other Indebtedness In addition to the d ebt agreements discussed above, the Company is party to overdraft facilities with a borrowing capacity of $30.0 million. Total letters of credit and surety bonds of $24.6 million were outstanding as of September 27, 2024 . Deferred Financing Fees The Compa ny has $2.7 million in deferred financing fees included in Other assets as of September 27, 2024. As of September 27, 2024, the Company has $14.7 million of original issue discount fees and other issuance costs included as a reduction of Long-term debt related to the 2024 Term Loan and the 2028 Notes.

Accrued Liabilities

Accrued Liabilities	9 Months Ended
	Sep. 27, 2024
Accrued Liabilities [Abstract]
Accrued Liabilities	Accrued Liabilities Accrued liabilities in the Condensed Consolidated Balance Sheets consisted of the following: September 27, 2024 December 31, 2023 (In thousands) Accrued compensation and related benefits $ 87,257 $ 70,979 Contingent consideration - current portion 50,601 5,972 Accrued third-party commissions 34,338 28,539 Lease liability - current portion 21,547 21,568 Derivative liability - current portion 21,150 278 Accrued taxes 18,455 14,384 Accrued rebates 18,936 14,464 Accrued professional fees 9,602 13,037 Accrued interest 8,859 3,765 Accrued freight 6,817 3,909 Customer advances and billings in excess of costs incurred 5,869 2,953 Accrued royalties 5,828 6,944 Warranty liability 2,657 2,959 Accrued restructuring liability 2,293 2,276 Other 57,947 45,105 $ 352,156 $ 237,132 Accrued Restructuring Liability The Company’s restructuring programs include a series of actions to reduce the structural costs of the Company. A summary of the activity in the Company’s restructuring liability included in Accrued liabilities in the Condensed Consolidated Balance Sheets is as follows: Nine Months Ended September 27, 2024 Balance at Beginning of Period Provisions Payments Foreign Currency Translation Balance at End of Period (In thousands) Restructuring and other charges: Termination benefits (1) $ 2,195 $ 9,831 $ (9,791) $ 51 $ 2,286 Facility closure costs and other (2) 81 7,177 (7,251) — 7 Total $ 2,276 17,008 $ (17,042) $ 51 $ 2,293 Non-cash charges (2) 5,555 Total Provisions (3) $ 22,563 (1) Includes severance and other termination benefits, including outplacement services, primarily related to employees in the Recon segment following the Lima Acquisition. (2) Includes the cost of relocating associates, relocating equipment, lease termination expense and other costs in connection with the closure and optimization of P&R office sites, shared service centers, and our manufacturing sites in Tunisia and Tijuana. (3)

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	9 Months Ended
	Sep. 27, 2024
Financial Instruments and Fair Value Measurements [Abstract]
Financial Instruments and Fair Value Measurements	Financial Instruments and Fair Value Measurements The Company utilizes fair value measurement guidance prescribed by accounting standards to value its financial instruments. The guidance establishes a fair value hierarchy based on the inputs used to measure fair value. This hierarchy prioritizes the inputs into three broad levels as follows: Level One : Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets. Level Two : Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in inactive markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. Level Three : Inputs to the valuation methodology are unobservable and significant to the fair value measurement. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The carrying values of financial instruments, including trade receivables, other receivables and accounts payable, approximate their fair values due to their short-term maturities. The carrying value of the Company’s term loan and revolving credit facility debt, which bears a variable interest rate indexed to the Secured Overnight Financing Rate (SOFR), approximates fair value as it reprices when market interest rates change. Based on current interest rates for similar types of borrowings, the estimated fair value of the Company’s total debt, including the Senior unsecured convertible notes, the 2024 Term Loan, and the Revolver, was $1.4 billion and $573.2 million as of September 27, 2024 and December 31, 2023, respectively. The estimated fair value, a Level Two valuation in the fair value hierarchy, may not represent actual values of the financial instruments that could be realized as of the balance sheet date or that will be realized in the future. As of September 27, 2024, the Company held $21.3 million in Level Three liabilities arising from contingent consideration related to acquisitions that may settle in cash. The fair value of the contingent consideration liabilities is determined using unobservable inputs and the inputs vary based on the nature of the purchase agreements. These inputs can include the estimated amount and timing of projected cash flows, the risk-adjusted discount rate used to present value the projected cash flows, and the probability of the acquired company attaining certain targets stated within the purchase agreements. A change in these unobservable inputs to a different amount might result in a significantly higher or lower fair value measurement at the reporting date due to the nature of uncertainty inherent to the estimates. During the nine months ended September 27, 2024, the Company recorded a net $4.7 million reduction in contingent consideration primarily due to $6.3 million in settlements of revenue-based contingent consideration arrangements. The gross range of outcomes for contingent consideration arrangements that have a fixed limit on the maximum payout is zero to $7.5 million. There is one contingent consideration arrangement remaining that has no limit and is based on a percentage of sales in excess of a benchmark over a five-year period through 2027. Additionally, in conjunction with the Lima Acquisition, the Company agreed to a contingent issuance of 1,942,686 Contingent Acquisition Shares, as determined based upon a €100 million value divided by the thirty-day volume weighted average price of Enovis common stock as of the close of business on September 21, 2023. The Contingent Acquisition Shares are expected to be issued in two equal tranches within six There were no transfers in or out of Level One, Two or Three during the nine months ended September 27, 2024. Total Contingent Consideration Rollforward Beginning Balance Additions Charges / (Gain) Interest Payments Foreign Exchange Ending Balance (In thousands) Contingent Consideration - Level One $ — $ 107,877 $ (19,922) $ — $ (45,576) $ — $ 42,379 Contingent Consideration - Level Three 26,025 1,414 — — (6,281) 149 21,307 Total Contingent Consideration $ 26,025 $ 109,291 $ (19,922) $ — $ (51,857) $ 149 $ 63,686 Deferred Compensation Plans The Company maintains deferred compensation plans for the benefit of certain employees and non-executive officers. As of September 27, 2024 and December 31, 2023 the fair value of these plans were $17.0 million and $14.4 million, respectively. These plans are deemed to be Level Two within the fair value hierarchy. Forward Currency Contracts The Company’s objective in using forward currency contracts is to add stability to the Company’s earnings and to protect the U.S. Dollar value of forecasted transactions. To accomplish this objective, the Company has entered into forward currency contract agreements between the U.S. Dollar and the Mexican Peso as part of its risk management strategy. These forward currency contract agreements are designated and qualify as cash flow hedges. The gain or loss on a derivative instrument designated as a cash flow hedge is recorded in Unrealized gain (loss) on hedging activities, net of tax within the Company’s unaudited Condensed Consolidated Statements of Comprehensive Income (Loss) until the underlying third party transaction occurs. When the underlying third-party transaction occurs, the Company recognizes the gain or loss in earnings within Cost of Sales in its unaudited Condensed Consolidated Statements of Operations. The contracts are recorded at fair value and deemed to be Level Two in the fair value hierarchy. At September 27, 2024, the Company’s forward currency contracts have a Mexican Peso notional amount of approximately $210.0 million and a U.S. Dollar aggregate notional amount of $12.0 million. During the three and nine months ended September 27, 2024, the Company recognized a realized loss of $0.1 million and a realized gain of $0.4 million, respectively on its Condensed Consolidated Statements of Operations related to its forward currency contracts designated as cash flow hedges. At September 29, 2023, the Company’s forward currency contracts have a Mexican Peso notional amount of approximately $1.05 billion and a U.S. Dollar aggregate notional amount of $59.9 million. During the three and nine months ended September 29, 2023, the Company recognized a realized gain of $0.2 million on its Condensed Consolidated Statements of Operations related to its forward currency contracts designated as cash flow hedges. Net Investment Hedges On April 18, 2023, the Company entered into cross-currency swap agreements to hedge its net investment in its Swiss Franc-denominated subsidiaries against adverse movements in exchange rates between the U.S. Dollar and the Swiss Franc. These swap agreements were designated and qualified as net investment hedges. These contracts had a Swiss Franc notional amount of approximately ₣403 million and a U.S. Dollar aggregate notional amount of $450 million. In April 2024, the ₣403 million cross-currency swap agreements designated as net investment hedges were de-designated and settled for $4.6 million which is reflected as a cash outflow within investing activities in the Consolidated Statements of Cash Flows. The $0.7 million gain on settlement is reported in the Condensed Consolidated Balance Sheet as part of Accumulated other comprehensive income (loss) and in the Company’s Condensed Consolidated Statements of Comprehensive Income (Loss) as part of the foreign currency translation adjustment. On April 8, 2024, April 12, 2024, and July 2, 2024, the Company entered into additional cross-currency swap agreements to hedge its net investment in its Swiss Franc-denominated subsidiaries against adverse movements in exchange rates between the U.S. Dollar and the Swiss Franc. These swap agreements are designated and qualify as net investment hedges. These contracts have a Swiss Franc notional amount of approximately ₣1.22 billion and a U.S. Dollar aggregate notional amount of $1.35 billion as of September 27, 2024. Cross-currency swaps involve the receipt of functional-currency fixed-rate amounts from a counterparty in exchange for the Company making foreign-currency fixed-rate payments over the life of the agreement. For derivatives designated as net investment hedges, the gain or loss on the derivative is reported in the Condensed Consolidated Balance Sheet as part of Accumulated other comprehensive loss and in the Company’s Condensed Consolidated Statements of Comprehensive Income (Loss) as part of the foreign currency translation adjustment. Amounts are reclassified out of Accumulated other comprehensive income (loss) into earnings when the hedged net investment is either sold or substantially liquidated. During the three and nine months ended September 27, 2024, the Company received interest income on its cross-currency swap derivatives of $11.7 million and $19.9 million which is included within Interest expense, net in the Condensed Consolidated Statements of Operations. The following table presents the effect of the Company’s designated hedging instruments on Accumulated other comprehensive income (loss) for the three and nine months ended September 27, 2024 and September 29, 2023: Three Months Ended Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 (In thousands) Gain (loss) on cross-currency swaps $ (71,329) $ 5,991 $ (45,904) $ (1,199) Gain (loss) on forward currency contracts (343) (1,654) (2,285) (1,654) $ (71,672) $ 4,337 $ (48,189) $ (2,853) Non-Designated Hedging Instruments The Company also used non-designated forward currency contracts for the purpose of managing its exposure to currency exchange rate risk related to the Euro-denominated purchase price of the Lima Acquisition which closed in January 2024. In the first quarter of 2024, the Company recorded a loss of $11.1 million on its Consolidated Statements of Operations related to the exchange rate movements over the first three days of 2024. The loss is recorded in Other (income) expense, net on the Condensed Consolidated Statements of Operations. From inception of the forward contracts on October 4, 2023 through the closing of the Lima Acquisition on January 3, 2024, the foreign currency forward contracts settled in an overall realized gain position of $13.4 million. The following table presents the fair value of the Company’s derivative financial instruments as well as their classification on the Condensed Consolidated Balance Sheets as of September 27, 2024 and December 31, 2023: (In thousands) Location on Unaudited Consolidated Balance Sheets (1) September 27, 2024 December 31, 2023 Derivative Assets Designated Hedging Instruments Forward currency contracts Other current assets $ — $ 432 Cross-currency swaps Other current assets 33,617 10,061 33,617 10,493 Non-Designated Hedging Instruments Forward currency contracts Other current assets — 24,311 Total Derivative Assets $ 33,617 $ 34,804 Derivative Liabilities Designated Hedging Instruments Forward currency contracts Accrued liabilities $ 1,356 $ 278 Cross-currency swaps Accrued liabilities 19,794 — Cross-currency swaps Other long-term liabilities 91,633 46,953 Total Derivative Liabilities $ 112,783 $ 47,231 (1) The Company classifies derivative assets and liabilities as current when the settlement date of the contract is one year or less.
Fair Value Disclosures	Financial Instruments and Fair Value Measurements The Company utilizes fair value measurement guidance prescribed by accounting standards to value its financial instruments. The guidance establishes a fair value hierarchy based on the inputs used to measure fair value. This hierarchy prioritizes the inputs into three broad levels as follows: Level One : Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets. Level Two : Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in inactive markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. Level Three : Inputs to the valuation methodology are unobservable and significant to the fair value measurement. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The carrying values of financial instruments, including trade receivables, other receivables and accounts payable, approximate their fair values due to their short-term maturities. The carrying value of the Company’s term loan and revolving credit facility debt, which bears a variable interest rate indexed to the Secured Overnight Financing Rate (SOFR), approximates fair value as it reprices when market interest rates change. Based on current interest rates for similar types of borrowings, the estimated fair value of the Company’s total debt, including the Senior unsecured convertible notes, the 2024 Term Loan, and the Revolver, was $1.4 billion and $573.2 million as of September 27, 2024 and December 31, 2023, respectively. The estimated fair value, a Level Two valuation in the fair value hierarchy, may not represent actual values of the financial instruments that could be realized as of the balance sheet date or that will be realized in the future. As of September 27, 2024, the Company held $21.3 million in Level Three liabilities arising from contingent consideration related to acquisitions that may settle in cash. The fair value of the contingent consideration liabilities is determined using unobservable inputs and the inputs vary based on the nature of the purchase agreements. These inputs can include the estimated amount and timing of projected cash flows, the risk-adjusted discount rate used to present value the projected cash flows, and the probability of the acquired company attaining certain targets stated within the purchase agreements. A change in these unobservable inputs to a different amount might result in a significantly higher or lower fair value measurement at the reporting date due to the nature of uncertainty inherent to the estimates. During the nine months ended September 27, 2024, the Company recorded a net $4.7 million reduction in contingent consideration primarily due to $6.3 million in settlements of revenue-based contingent consideration arrangements. The gross range of outcomes for contingent consideration arrangements that have a fixed limit on the maximum payout is zero to $7.5 million. There is one contingent consideration arrangement remaining that has no limit and is based on a percentage of sales in excess of a benchmark over a five-year period through 2027. Additionally, in conjunction with the Lima Acquisition, the Company agreed to a contingent issuance of 1,942,686 Contingent Acquisition Shares, as determined based upon a €100 million value divided by the thirty-day volume weighted average price of Enovis common stock as of the close of business on September 21, 2023. The Contingent Acquisition Shares are expected to be issued in two equal tranches within six There were no transfers in or out of Level One, Two or Three during the nine months ended September 27, 2024. Total Contingent Consideration Rollforward Beginning Balance Additions Charges / (Gain) Interest Payments Foreign Exchange Ending Balance (In thousands) Contingent Consideration - Level One $ — $ 107,877 $ (19,922) $ — $ (45,576) $ — $ 42,379 Contingent Consideration - Level Three 26,025 1,414 — — (6,281) 149 21,307 Total Contingent Consideration $ 26,025 $ 109,291 $ (19,922) $ — $ (51,857) $ 149 $ 63,686 Deferred Compensation Plans The Company maintains deferred compensation plans for the benefit of certain employees and non-executive officers. As of September 27, 2024 and December 31, 2023 the fair value of these plans were $17.0 million and $14.4 million, respectively. These plans are deemed to be Level Two within the fair value hierarchy. Forward Currency Contracts The Company’s objective in using forward currency contracts is to add stability to the Company’s earnings and to protect the U.S. Dollar value of forecasted transactions. To accomplish this objective, the Company has entered into forward currency contract agreements between the U.S. Dollar and the Mexican Peso as part of its risk management strategy. These forward currency contract agreements are designated and qualify as cash flow hedges. The gain or loss on a derivative instrument designated as a cash flow hedge is recorded in Unrealized gain (loss) on hedging activities, net of tax within the Company’s unaudited Condensed Consolidated Statements of Comprehensive Income (Loss) until the underlying third party transaction occurs. When the underlying third-party transaction occurs, the Company recognizes the gain or loss in earnings within Cost of Sales in its unaudited Condensed Consolidated Statements of Operations. The contracts are recorded at fair value and deemed to be Level Two in the fair value hierarchy. At September 27, 2024, the Company’s forward currency contracts have a Mexican Peso notional amount of approximately $210.0 million and a U.S. Dollar aggregate notional amount of $12.0 million. During the three and nine months ended September 27, 2024, the Company recognized a realized loss of $0.1 million and a realized gain of $0.4 million, respectively on its Condensed Consolidated Statements of Operations related to its forward currency contracts designated as cash flow hedges. At September 29, 2023, the Company’s forward currency contracts have a Mexican Peso notional amount of approximately $1.05 billion and a U.S. Dollar aggregate notional amount of $59.9 million. During the three and nine months ended September 29, 2023, the Company recognized a realized gain of $0.2 million on its Condensed Consolidated Statements of Operations related to its forward currency contracts designated as cash flow hedges. Net Investment Hedges On April 18, 2023, the Company entered into cross-currency swap agreements to hedge its net investment in its Swiss Franc-denominated subsidiaries against adverse movements in exchange rates between the U.S. Dollar and the Swiss Franc. These swap agreements were designated and qualified as net investment hedges. These contracts had a Swiss Franc notional amount of approximately ₣403 million and a U.S. Dollar aggregate notional amount of $450 million. In April 2024, the ₣403 million cross-currency swap agreements designated as net investment hedges were de-designated and settled for $4.6 million which is reflected as a cash outflow within investing activities in the Consolidated Statements of Cash Flows. The $0.7 million gain on settlement is reported in the Condensed Consolidated Balance Sheet as part of Accumulated other comprehensive income (loss) and in the Company’s Condensed Consolidated Statements of Comprehensive Income (Loss) as part of the foreign currency translation adjustment. On April 8, 2024, April 12, 2024, and July 2, 2024, the Company entered into additional cross-currency swap agreements to hedge its net investment in its Swiss Franc-denominated subsidiaries against adverse movements in exchange rates between the U.S. Dollar and the Swiss Franc. These swap agreements are designated and qualify as net investment hedges. These contracts have a Swiss Franc notional amount of approximately ₣1.22 billion and a U.S. Dollar aggregate notional amount of $1.35 billion as of September 27, 2024. Cross-currency swaps involve the receipt of functional-currency fixed-rate amounts from a counterparty in exchange for the Company making foreign-currency fixed-rate payments over the life of the agreement. For derivatives designated as net investment hedges, the gain or loss on the derivative is reported in the Condensed Consolidated Balance Sheet as part of Accumulated other comprehensive loss and in the Company’s Condensed Consolidated Statements of Comprehensive Income (Loss) as part of the foreign currency translation adjustment. Amounts are reclassified out of Accumulated other comprehensive income (loss) into earnings when the hedged net investment is either sold or substantially liquidated. During the three and nine months ended September 27, 2024, the Company received interest income on its cross-currency swap derivatives of $11.7 million and $19.9 million which is included within Interest expense, net in the Condensed Consolidated Statements of Operations. The following table presents the effect of the Company’s designated hedging instruments on Accumulated other comprehensive income (loss) for the three and nine months ended September 27, 2024 and September 29, 2023: Three Months Ended Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 (In thousands) Gain (loss) on cross-currency swaps $ (71,329) $ 5,991 $ (45,904) $ (1,199) Gain (loss) on forward currency contracts (343) (1,654) (2,285) (1,654) $ (71,672) $ 4,337 $ (48,189) $ (2,853) Non-Designated Hedging Instruments The Company also used non-designated forward currency contracts for the purpose of managing its exposure to currency exchange rate risk related to the Euro-denominated purchase price of the Lima Acquisition which closed in January 2024. In the first quarter of 2024, the Company recorded a loss of $11.1 million on its Consolidated Statements of Operations related to the exchange rate movements over the first three days of 2024. The loss is recorded in Other (income) expense, net on the Condensed Consolidated Statements of Operations. From inception of the forward contracts on October 4, 2023 through the closing of the Lima Acquisition on January 3, 2024, the foreign currency forward contracts settled in an overall realized gain position of $13.4 million. The following table presents the fair value of the Company’s derivative financial instruments as well as their classification on the Condensed Consolidated Balance Sheets as of September 27, 2024 and December 31, 2023: (In thousands) Location on Unaudited Consolidated Balance Sheets (1) September 27, 2024 December 31, 2023 Derivative Assets Designated Hedging Instruments Forward currency contracts Other current assets $ — $ 432 Cross-currency swaps Other current assets 33,617 10,061 33,617 10,493 Non-Designated Hedging Instruments Forward currency contracts Other current assets — 24,311 Total Derivative Assets $ 33,617 $ 34,804 Derivative Liabilities Designated Hedging Instruments Forward currency contracts Accrued liabilities $ 1,356 $ 278 Cross-currency swaps Accrued liabilities 19,794 — Cross-currency swaps Other long-term liabilities 91,633 46,953 Total Derivative Liabilities $ 112,783 $ 47,231 (1) The Company classifies derivative assets and liabilities as current when the settlement date of the contract is one year or less.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 27, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company is involved in various pending legal, regulatory, and other proceedings arising out of the ordinary course of the Company’s business. None of these proceedings are expected to have a material adverse effect on the financial condition, results of operations or cash flow of the Company. With respect to these proceedings, management of the Company believes that either it will prevail, has adequate insurance coverage or has established appropriate accruals to cover potential liabilities. Legal costs related to proceedings or claims are recorded as incurred. Other costs that management estimates may be paid related to the claims are accrued when the liability is considered probable and the amount can be reasonably estimated. There can be no assurance, however, as to the ultimate outcome of any of these matters, and if all or substantially all of these proceedings were to be determined adverse to the Company, there could be a material adverse effect on the financial condition, results of operations or cash flow of the Company. For further description of the Company’s litigation and contingencies, reference is made to Note 18, “Commitments and Contingencies” in the Notes to Consolidated Financial Statements in the Company’s 2023 Form 10-K.

Segment Information

Segment Information	9 Months Ended
	Sep. 27, 2024
Segment Reporting [Abstract]
Segment Information	Segment Information The Company conducts its continuing operations through the Prevention & Recovery and Reconstructive operating segments, which also represent the Company’s reportable segments. ▪ P&R - a leader in orthopedic solutions and recovery sciences, providing devices, software, and services across the patient care continuum from injury prevention to rehabilitation after surgery, injury, or from degenerative disease. • Recon - an innovation market-leader positioned in the fast-growing surgical implant business, offering a comprehensive suite of reconstructive joint products for the hip, knee, shoulder, elbow, foot, ankle, and finger and surgical productivity tools. The Company’s management, including the chief operating decision maker, evaluates the operating results of each of its reportable segments based upon Net sales and Adjusted EBITDA, which excludes the effect of Other (income) expense, net, non-operating (gain) loss on investments, debt extinguishment charges, interest expense, net, restructuring and certain other charges, Medical Device Regulation (MDR) and other costs, strategic transaction costs, stock-based compensation, depreciation and other amortization, acquisition-related intangible asset amortization, insurance settlement loss (gain), and inventory step-up charges from the results of the Company’s operating segments. The Company’s segment results were as follows: Three Months Ended Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 (In thousands) Net Sales: Prevention & Recovery $ 274,244 $ 270,287 $ 811,011 $ 794,502 Reconstructive 230,978 147,237 735,637 457,675 $ 505,222 $ 417,524 $ 1,546,648 $ 1,252,177 Segment Adjusted EBITDA (1) : Prevention & Recovery $ 42,776 $ 44,102 $ 111,840 $ 109,123 Reconstructive 47,427 21,284 151,811 78,357 $ 90,203 $ 65,386 $ 263,651 $ 187,480 (1) The following is a reconciliation of Income (loss) from continuing operations before income taxes to Adjusted EBITDA: Three Months Ended Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 (In thousands) Loss from continuing operations before income taxes (GAAP) $ (42,601) $ (25,503) $ (149,198) $ (74,785) Restructuring and other costs (1) 7,786 5,341 25,284 12,083 MDR and other costs (2) 5,297 6,228 14,757 23,021 Strategic transaction costs (3) 21,428 10,482 64,958 27,547 Stock-based compensation 7,827 8,366 21,868 24,142 Depreciation and other amortization 28,440 21,492 85,740 62,237 Amortization of acquired intangibles 42,786 33,967 124,653 98,256 Inventory step-up 8,376 2 37,361 148 Interest expense, net 11,066 5,768 48,031 15,496 Other (income) expense, net (4) (202) (757) (9,803) (665) Adjusted EBITDA (non-GAAP) $ 90,203 $ 65,386 $ 263,651 $ 187,480 (1) Restructuring and other charges includes $2.7 million and $2.7 million, of expense classified as Cost of sales on the Company’s Condensed Consolidated Statements of Operations for the three and nine months ended September 27, 2024, respectively. Restructuring and other charges includes $— million and $0.3 million, of expense classified as Cost of sales on the Company’s Condensed Consolidated Statements of Operations for the three and nine months ended September 29, 2023, respectively. (2) Primarily related to costs specific to compliance with medical device reporting reg ulations and other requirements of the European Union Medical Devices Regulation. These costs are classified as Selling, general and administrative expense on our Condensed Consolidated Statements of Operations. (3) Primarily relates to integration costs associated with the Lima Acquisition in 2024 and other strategic initiatives in 2023, including costs related to the Separation. (4) Primarily includes the fair value gain on Contingent Acquisition Shares, partially offset by the first quarter of 2024 loss on the non-designated forward currency hedge for managing exchange rate risk related to the Euro-denominated purchase price of the Lima Acquisition.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (31,521)	$ (2,880)	$ (122,157)	$ (36,225)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 27, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Recently Issued Accounting Pr_2

Recently Issued Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 27, 2024
Accounting Policies [Abstract]
Basis of Accounting	The Condensed Consolidated Financial Statements included in this quarterly report have been prepared by the Company in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) and accounting principles generally accepted in the United States of America (“GAAP”) for interim financial statements and reflect, in the opinion of management, all adjustments, which consist solely of normal recurring adjustments, necessary to present fairly the Company’s financial position and results of operations as of and for the periods indicated. The Condensed Consolidated Balance Sheet as of December 31, 2023 is derived from the Company’s audited financial statements. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted in accordance with the SEC’s rules and regulations for interim financial statements.
Use of Estimates	The Company makes certain estimates and assumptions in preparing its Condensed Consolidated Financial Statements in accordance with GAAP. These estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities as of the date of the Condensed Consolidated Financial Statements, and the reported amounts of revenues and expenses for the periods presented. Actual results may differ from those estimates.
New Accounting Pronouncements	There are no recently issued accounting pronouncements that are expected to have a material effect on the Company’s financial position, results of operations or cash flows.
Restricted Cash	Restricted Cash Cash and cash equivalents that are restricted as to withdrawal or use under the terms of certain contractual agreements are excluded from Cash and cash equivalents in the Condensed Consolidated Balance Sheets. Restricted cash is recorded as a component of Other current assets on the Condensed Consolidated Balance Sheets. The balance in restricted cash as of September 27, 2024 and December 31, 2023 is related to the acquisition of Precision AI which closed in the fourth quarter of 2023 and will be released to the seller within one year of the acquisition date upon completion of certain milestones.

Acquisitions and Investments (T

Acquisitions and Investments (Tables)	9 Months Ended
	Sep. 27, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Business Acquisition, Proforma Information	The following unaudited proforma financial information presents Enovis’s consolidated financial information assuming the acquisition had taken place on January 1, 2023. These amounts are presented in accordance with GAAP, consistent with the Company’s accounting policies. Three Months Ended Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 (In thousands) Net Sales $ 505,222 $ 483,001 $ 1,546,648 $ 1,469,691 Net loss from continuing operations attributable to Enovis (23,094) (47,741) (110,519) (147,926)
Schedule of Assets Acquired and Liabilities Assumed	Accordingly, the assets acquired and liabilities assumed, as detailed below, are subject to adjustment once the detailed analyses are completed, which could be material. Substantially all of the Goodwill recognized is not expected to be deductible for income tax purposes. January 3, 2024 (In thousands) Trade receivables $ 79,710 Inventories 133,547 Property, plant and equipment 123,093 Goodwill 326,158 Intangible assets 363,000 Accounts payable (36,871) Accrued liabilities (51,642) Other assets and liabilities, net (71,411) Total fair value of consideration, net of acquired cash 865,584 Less: fair value of Contingent Acquisition Shares (107,877) Acquisition consideration paid, net of acquired cash $ 757,707
Summary of Intangible Assets Acquired	The following summarizes the preliminary values of the Intangible assets acquired, excluding Goodwill, as of September 27, 2024: Intangible Asset Weighted Average Amortization Period (Years) Trademarks $ 50,000 20 Customer Relationships 148,000 15 Acquired technology 165,000 15 Total Intangible Assets $ 363,000
Restrictions on Cash and Cash Equivalents	The following table summarizes the Company’s cash, cash equivalents and restricted cash: September 27, 2024 December 31, 2023 (In thousands) Cash and cash equivalents $ 35,425 $ 36,191 Restricted cash 4,373 8,641 Total cash and cash equivalents and restricted cash $ 39,798 $ 44,832
Schedule of Cash and Cash Equivalents	The following table summarizes the Company’s cash, cash equivalents and restricted cash: September 27, 2024 December 31, 2023 (In thousands) Cash and cash equivalents $ 35,425 $ 36,191 Restricted cash 4,373 8,641 Total cash and cash equivalents and restricted cash $ 39,798 $ 44,832

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 27, 2024
Revenue [Abstract]
Schedule of Revenue by Major Customers by Reporting Segments	The Company disaggregates its revenue into the following geographic/product type groups within its segments: Three Months Ended Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 (In thousands) Prevention & Recovery: U.S. Bracing & Support $ 123,021 $ 118,384 $ 345,132 $ 337,722 U.S. Other P&R 66,196 68,217 200,496 198,293 International P&R 85,027 83,686 265,383 258,487 Total Prevention & Recovery 274,244 270,287 811,011 794,502 Reconstructive: U.S. Recon 120,811 99,720 366,608 309,358 International Recon 110,167 47,517 369,029 148,317 Total Reconstructive 230,978 147,237 735,637 457,675 Total $ 505,222 $ 417,524 $ 1,546,648 $ 1,252,177
Financing Receivable, Allowance for Credit Loss	A summary of the activity in the Company’s allowance for credit losses included within Trade receivables in the Condensed Consolidated Balance Sheets is as follows: Nine Months Ended September 27, 2024 Balance at Charged to Expense, net Write-Offs, Deductions, net Other Activity, net (1) Foreign Balance at (In thousands) Allowance for Credit Losses $ 9,731 $ 7,228 $ (1,997) $ 8,569 $ 33 $ 23,564 (1) Represents fair value adjustments related to acquisitions

Net Income (Loss) Per Share f_2

Net Income (Loss) Per Share from Continuing Operations (Tables)	9 Months Ended
	Sep. 27, 2024
Earnings Per Share [Abstract]
Schedule of Loss Per Share from Continuing Operations	Net income (loss) per share from continuing operations was computed using the treasury stock method as follows: Three Months Ended Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 (In thousands, except share and per share data) Computation of Net income (loss) per share from continuing operations - basic: Net income (loss) from continuing operations attributable to Enovis Corporation (1) $ (33,764) $ (19,491) $ (124,332) $ (57,321) Weighted-average shares of Common stock outstanding – basic 55,665,527 54,549,369 55,072,194 54,462,319 Net income (loss) per share from continuing operations – basic $ (0.61) $ (0.36) $ (2.26) $ (1.05) Computation of Net income (loss) per share from continuing operations - diluted: Net income (loss) from continuing operations attributable to Enovis Corporation (1) $ (33,764) $ (19,491) $ (124,332) $ (57,321) Weighted-average shares of Common stock outstanding – basic 55,665,527 54,549,369 55,072,194 54,462,319 Net effect of potentially dilutive securities - stock options and restricted stock units — — — — Weighted-average shares of Common stock outstanding – diluted 55,665,527 54,549,369 55,072,194 54,462,319 Net income (loss) per share from continuing operations – diluted $ (0.61) $ (0.36) $ (2.26) $ (1.05) (1) Net income (loss) from continuing operations attributable to Enovis Corporation for the respective periods is calculated using Net income (loss) from continuing operations less the continuing operations component of the income attributable to noncontrolling interest, net of taxes. The following weighted average computations of potentially dilutive shares of Common stock from stock-based compensation awards were excluded from the calculation of Weighted-average shares of Common stock outstanding – diluted as inclusion would be anti-dilutive in Net income (loss) per share: Three Months Ended Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 Weighted average computation of potentially dilutive shares of Common stock excluded from diluted computation, as inclusion would be anti-dilutive 1,720,628 1,073,464 1,311,385 1,127,227

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 27, 2024
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Components Net Unrecognized Pension Benefit Cost Foreign Currency Translation Adjustment Unrealized Gain (Loss) on Hedging Activities Total (In thousands) Balance at January 1, 2024 $ 5,008 $ (2,016) $ (27,873) $ (24,881) Other comprehensive income (loss) before reclassifications: Foreign currency translation adjustment 3 6,931 — 6,934 Loss on hedge activity — — (36,006) (36,006) Other comprehensive income (loss) before reclassifications 3 6,931 (36,006) (29,072) Amounts reclassified from Accumulated other comprehensive income (loss) (104) — (894) (998) Net Other comprehensive income (loss) (101) 6,931 (36,900) (30,070) Balance at September 27, 2024 $ 4,907 $ 4,915 $ (64,773) $ (54,951) Accumulated Other Comprehensive Loss Components Net Unrecognized Pension Benefit Cost Foreign Currency Translation Adjustment Unrealized Loss on Hedging Activities Total (In thousands) Balance at January 1, 2023 $ 12,207 $ (65,637) $ — $ (53,430) Other comprehensive income (loss) before reclassifications: Foreign currency translation adjustment 108 3,750 — 3,858 Loss on hedge activity — — (2,290) (2,290) Other comprehensive income (loss) before reclassifications 108 3,750 (2,290) 1,568 Amounts reclassified from Accumulated other comprehensive income (loss) (1,221) — 168 (1,053) Net Other comprehensive income (loss) (1,113) 3,750 (2,122) 515 Balance at September 29, 2023 $ 11,094 $ (61,887) $ (2,122) $ (52,915)

Inventories, Net (Tables)

Inventories, Net (Tables)	9 Months Ended
	Sep. 27, 2024
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventories, net consisted of the following: September 27, 2024 December 31, 2023 (In thousands) Raw materials $ 94,995 $ 88,129 Work in process 48,533 39,310 Finished goods 536,327 406,931 679,855 534,370 Less: Allowance for excess, slow-moving and obsolete inventory (70,190) (65,538) $ 609,665 $ 468,832

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 27, 2024
Debt Disclosure [Abstract]
Schedule of Debt	Long-term debt consisted of the following: September 27, 2024 December 31, 2023 (In thousands) Term loan $ 382,037 $ — Senior unsecured convertible notes 448,306 446,164 Revolving credit facilities and other 515,126 20,000 Total debt 1,345,469 466,164 Less: current portion (20,029) — Long-term debt $ 1,325,440 $ 466,164

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	9 Months Ended
	Sep. 27, 2024
Accrued Liabilities [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities in the Condensed Consolidated Balance Sheets consisted of the following: September 27, 2024 December 31, 2023 (In thousands) Accrued compensation and related benefits $ 87,257 $ 70,979 Contingent consideration - current portion 50,601 5,972 Accrued third-party commissions 34,338 28,539 Lease liability - current portion 21,547 21,568 Derivative liability - current portion 21,150 278 Accrued taxes 18,455 14,384 Accrued rebates 18,936 14,464 Accrued professional fees 9,602 13,037 Accrued interest 8,859 3,765 Accrued freight 6,817 3,909 Customer advances and billings in excess of costs incurred 5,869 2,953 Accrued royalties 5,828 6,944 Warranty liability 2,657 2,959 Accrued restructuring liability 2,293 2,276 Other 57,947 45,105 $ 352,156 $ 237,132
Summary of Restructuring Liability	A summary of the activity in the Company’s restructuring liability included in Accrued liabilities in the Condensed Consolidated Balance Sheets is as follows: Nine Months Ended September 27, 2024 Balance at Beginning of Period Provisions Payments Foreign Currency Translation Balance at End of Period (In thousands) Restructuring and other charges: Termination benefits (1) $ 2,195 $ 9,831 $ (9,791) $ 51 $ 2,286 Facility closure costs and other (2) 81 7,177 (7,251) — 7 Total $ 2,276 17,008 $ (17,042) $ 51 $ 2,293 Non-cash charges (2) 5,555 Total Provisions (3) $ 22,563 (1) Includes severance and other termination benefits, including outplacement services, primarily related to employees in the Recon segment following the Lima Acquisition. (2) Includes the cost of relocating associates, relocating equipment, lease termination expense and other costs in connection with the closure and optimization of P&R office sites, shared service centers, and our manufacturing sites in Tunisia and Tijuana. (3)

Financial Instruments and Fai_2

Financial Instruments and Fair Value Measurements (Tables)	9 Months Ended
	Sep. 27, 2024
Financial Instruments and Fair Value Measurements [Abstract]
Schedule of Business Acquisitions by Acquisition, Contingent Consideration	Total Contingent Consideration Rollforward Beginning Balance Additions Charges / (Gain) Interest Payments Foreign Exchange Ending Balance (In thousands) Contingent Consideration - Level One $ — $ 107,877 $ (19,922) $ — $ (45,576) $ — $ 42,379 Contingent Consideration - Level Three 26,025 1,414 — — (6,281) 149 21,307 Total Contingent Consideration $ 26,025 $ 109,291 $ (19,922) $ — $ (51,857) $ 149 $ 63,686
Schedule of Effect of Designated Hedges Instruments on Accumulated Other Comprehensive Income (Loss)	The following table presents the effect of the Company’s designated hedging instruments on Accumulated other comprehensive income (loss) for the three and nine months ended September 27, 2024 and September 29, 2023: Three Months Ended Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 (In thousands) Gain (loss) on cross-currency swaps $ (71,329) $ 5,991 $ (45,904) $ (1,199) Gain (loss) on forward currency contracts (343) (1,654) (2,285) (1,654) $ (71,672) $ 4,337 $ (48,189) $ (2,853)
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The following table presents the fair value of the Company’s derivative financial instruments as well as their classification on the Condensed Consolidated Balance Sheets as of September 27, 2024 and December 31, 2023: (In thousands) Location on Unaudited Consolidated Balance Sheets (1) September 27, 2024 December 31, 2023 Derivative Assets Designated Hedging Instruments Forward currency contracts Other current assets $ — $ 432 Cross-currency swaps Other current assets 33,617 10,061 33,617 10,493 Non-Designated Hedging Instruments Forward currency contracts Other current assets — 24,311 Total Derivative Assets $ 33,617 $ 34,804 Derivative Liabilities Designated Hedging Instruments Forward currency contracts Accrued liabilities $ 1,356 $ 278 Cross-currency swaps Accrued liabilities 19,794 — Cross-currency swaps Other long-term liabilities 91,633 46,953 Total Derivative Liabilities $ 112,783 $ 47,231 (1) The Company classifies derivative assets and liabilities as current when the settlement date of the contract is one year or less.

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 27, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The Company’s segment results were as follows: Three Months Ended Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 (In thousands) Net Sales: Prevention & Recovery $ 274,244 $ 270,287 $ 811,011 $ 794,502 Reconstructive 230,978 147,237 735,637 457,675 $ 505,222 $ 417,524 $ 1,546,648 $ 1,252,177 Segment Adjusted EBITDA (1) : Prevention & Recovery $ 42,776 $ 44,102 $ 111,840 $ 109,123 Reconstructive 47,427 21,284 151,811 78,357 $ 90,203 $ 65,386 $ 263,651 $ 187,480 (1) The following is a reconciliation of Income (loss) from continuing operations before income taxes to Adjusted EBITDA: Three Months Ended Nine Months Ended September 27, 2024 September 29, 2023 September 27, 2024 September 29, 2023 (In thousands) Loss from continuing operations before income taxes (GAAP) $ (42,601) $ (25,503) $ (149,198) $ (74,785) Restructuring and other costs (1) 7,786 5,341 25,284 12,083 MDR and other costs (2) 5,297 6,228 14,757 23,021 Strategic transaction costs (3) 21,428 10,482 64,958 27,547 Stock-based compensation 7,827 8,366 21,868 24,142 Depreciation and other amortization 28,440 21,492 85,740 62,237 Amortization of acquired intangibles 42,786 33,967 124,653 98,256 Inventory step-up 8,376 2 37,361 148 Interest expense, net 11,066 5,768 48,031 15,496 Other (income) expense, net (4) (202) (757) (9,803) (665) Adjusted EBITDA (non-GAAP) $ 90,203 $ 65,386 $ 263,651 $ 187,480 (1) Restructuring and other charges includes $2.7 million and $2.7 million, of expense classified as Cost of sales on the Company’s Condensed Consolidated Statements of Operations for the three and nine months ended September 27, 2024, respectively. Restructuring and other charges includes $— million and $0.3 million, of expense classified as Cost of sales on the Company’s Condensed Consolidated Statements of Operations for the three and nine months ended September 29, 2023, respectively. (2) Primarily related to costs specific to compliance with medical device reporting reg ulations and other requirements of the European Union Medical Devices Regulation. These costs are classified as Selling, general and administrative expense on our Condensed Consolidated Statements of Operations. (3) Primarily relates to integration costs associated with the Lima Acquisition in 2024 and other strategic initiatives in 2023, including costs related to the Separation. (4) Primarily includes the fair value gain on Contingent Acquisition Shares, partially offset by the first quarter of 2024 loss on the non-designated forward currency hedge for managing exchange rate risk related to the Euro-denominated purchase price of the Lima Acquisition.

General (Details)

General (Details)	9 Months Ended
	Sep. 27, 2024 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments	2

Acquisitions and Investments -

Acquisitions and Investments - Narrative (Details) $ / shares in Units, € in Millions							1 Months Ended		3 Months Ended		9 Months Ended
	Jul. 16, 2024 shares	Jan. 03, 2024 USD ($) tranche location employee $ / shares shares	Jan. 03, 2024 EUR (€) location employee shares	Oct. 05, 2023 USD ($)	Jul. 20, 2023 USD ($)	Jun. 28, 2023 USD ($)	Aug. 31, 2024 USD ($)	Dec. 31, 2023 USD ($) $ / shares	Sep. 27, 2024 USD ($) $ / shares	Mar. 29, 2024 USD ($)	Sep. 27, 2024 USD ($) investment $ / shares	Sep. 29, 2023 USD ($)	Sep. 22, 2023 EUR (€)
Business Acquisition [Line Items]
Common stock, par value (in dollars per share) | $ / shares								$ 0.001	$ 0.001		$ 0.001
Acquisition, net of cash received											$ 765,422,000	$ 131,387,000
Contingent consideration, liability								$ 26,025,000	$ 63,686,000		63,686,000
Goodwill								2,060,893,000	2,393,691,000		2,393,691,000
Equity investment without readily determinable fair value									20,400,000		20,400,000
Equity investment without readily determinable fair value, impairment											0
Equity investment without readily determinable fair value, upward adjustment											$ 0
Equity securities without readily determinable fair value, number of investments | investment											1
D.N.E., LLC External Fixation Product Line | Reconstructive Segment
Business Acquisition [Line Items]
Payments for asset acquisitions					$ 28,200,000
Intangible assets acquired in asset acquisition					25,800,000
Inventory assigned in asset acquisition					1,900,000
Property, plant and equipment, additions					$ 500,000
Precision AI | Reconstructive Segment
Business Acquisition [Line Items]
Asset acquisition, interest acquired				100%
Asset acquisition, cash payment, net of cash acquired				$ 17,600,000
Asset acquisition, contingent consideration liability				$ 12,000,000
Asset acquisition, contingent consideration							$ 4,200,000	$ 4,200,000
Asset acquisition, intangible assets acquired									33,500,000		$ 33,500,000
LimaCorporate S.p.A.
Business Acquisition [Line Items]
Acquisition, consideration value expected | €			€ 800
Cash consideration | €			€ 700
Shares issuable in acquisition (in shares) | shares		1,942,686	1,942,686
Common stock, par value (in dollars per share) | $ / shares		$ 0.001
Value of shares issuable in acquisition | €													€ 100
Shares issued based on volume weighted average price, basis, period		30 days	30 days
Contingent consideration, number of tranches | tranche		2
Contingent consideration, liability, number of shares issued | shares	971,343
Acquisition, net of cash received		$ 757,707,000
Contingent consideration, liability		$ 107,877,000
Number of employees part of acquisition | employee		1,000	1,000
Number of locations acquired | location		15	15
Acquisition costs expensed										$ 9,700,000
Net sales of acquisitions consummated in period									68,400,000		237,600,000
Net loss of acquisitions consummated in period									(4,000,000)		(15,900,000)
Goodwill		$ 326,158,000
Intangible assets acquired		$ 363,000,000							$ 363,000,000		$ 363,000,000
LimaCorporate S.p.A. | Minimum
Business Acquisition [Line Items]
Contingent consideration, share issuance period		6 months	6 months
LimaCorporate S.p.A. | Maximum
Business Acquisition [Line Items]
Contingent consideration, share issuance period		12 months	12 months
Novastep | Reconstructive Segment
Business Acquisition [Line Items]
Acquisition, net of cash received						$ 96,900,000
Goodwill						43,700,000
Intangible assets acquired						$ 52,000,000

Acquisitions and Investments _2

Acquisitions and Investments - Proforma Financial Information (Details) - LimaCorporate S.p.A. - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Business Acquisition [Line Items]
Net Sales	$ 505,222	$ 483,001	$ 1,546,648	$ 1,469,691
Net loss from continuing operations attributable to Enovis	$ (23,094)	$ (47,741)	$ (110,519)	$ (147,926)

Acquisitions and Investments _3

Acquisitions and Investments - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands		9 Months Ended
	Jan. 03, 2024	Sep. 27, 2024	Sep. 29, 2023	Dec. 31, 2023
Business Acquisition [Line Items]
Goodwill		$ 2,393,691		$ 2,060,893
Less: fair value of Contingent Acquisition Shares		(63,686)		$ (26,025)
Acquisition consideration paid, net of acquired cash		765,422	$ 131,387
LimaCorporate S.p.A.
Business Acquisition [Line Items]
Trade receivables	$ 79,710
Inventories	133,547
Property, plant and equipment	123,093
Goodwill	326,158
Intangible assets	363,000	$ 363,000
Accounts payable	(36,871)
Accrued liabilities	(51,642)
Other assets and liabilities, net	(71,411)
Total fair value of consideration, net of acquired cash	865,584
Less: fair value of Contingent Acquisition Shares	(107,877)
Acquisition consideration paid, net of acquired cash	$ 757,707

Acquisitions and Investments _4

Acquisitions and Investments - Preliminary Intangible Assets Acquired (Details) - LimaCorporate S.p.A. - USD ($) $ in Thousands	9 Months Ended
	Sep. 27, 2024	Jan. 03, 2024
Business Acquisition [Line Items]
Intangible assets acquired	$ 363,000	$ 363,000
Trademarks
Business Acquisition [Line Items]
Intangible assets acquired	$ 50,000
Weighted average amortization period	20 years
Customer Relationships
Business Acquisition [Line Items]
Intangible assets acquired	$ 148,000
Weighted average amortization period	15 years
Acquired technology
Business Acquisition [Line Items]
Intangible assets acquired	$ 165,000
Weighted average amortization period	15 years

Acquisitions and Investments _5

Acquisitions and Investments - Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Sep. 27, 2024	Dec. 31, 2023	Sep. 29, 2023	Dec. 31, 2022
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Cash and cash equivalents	$ 35,425	$ 36,191
Restricted cash	4,373	8,641
Total cash and cash equivalents and restricted cash	$ 39,798	$ 44,832	$ 32,129	$ 24,295

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Revenue from contract with customer	$ 505,222	$ 417,524	$ 1,546,648	$ 1,252,177
Prevention and Recovery
Revenue from contract with customer	274,244	270,287	811,011	794,502
Prevention and Recovery | Bracing and Support | U.S.
Revenue from contract with customer	123,021	118,384	345,132	337,722
Prevention and Recovery | Other Prevention and Recovery | U.S.
Revenue from contract with customer	66,196	68,217	200,496	198,293
Prevention and Recovery | Prevention and Recovery | International
Revenue from contract with customer	85,027	83,686	265,383	258,487
Reconstructive Segment
Revenue from contract with customer	230,978	147,237	735,637	457,675
Reconstructive Segment | Surgical | U.S.
Revenue from contract with customer	120,811	99,720	366,608	309,358
Reconstructive Segment | Surgical | International
Revenue from contract with customer	$ 110,167	$ 47,517	$ 369,029	$ 148,317

Revenue - Allowance for Credit

Revenue - Allowance for Credit Loss Rollforward (Details) $ in Thousands	9 Months Ended
	Sep. 27, 2024 USD ($)
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at Beginning of Period	$ 9,731
Charged to Expense, net	7,228
Write-Offs, Deductions, net	(1,997)
Other Activity, net	8,569
Foreign Currency Translation	33
Balance at End of Period	$ 23,564

Net Income (Loss) Per Share f_3

Net Income (Loss) Per Share from Continuing Operations (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Earnings Per Share [Abstract]
Net loss from continuing operations attributable to Parent	$ (33,764)	$ (19,491)	$ (124,332)	$ (57,321)
Weighted-average shares of Common stock outstanding - basic (in shares)	55,665,527	54,549,369	55,072,194	54,462,319
Net loss per share from continuing operations-basic (in usd per share)	$ (0.61)	$ (0.36)	$ (2.26)	$ (1.05)
Net effect of potentially dilutive securities - stock options and restricted stock units (in shares)	0	0	0	0
Weighted-average shares of Common stock outstanding - diluted (in shares)	55,665,527	54,549,369	55,072,194	54,462,319
Net loss per share from continuing operations - diluted (in usd per share)	$ (0.61)	$ (0.36)	$ (2.26)	$ (1.05)

Net Income (Loss) Per Share f_4

Net Income (Loss) Per Share from Continuing Operations - Narrative (Details)			3 Months Ended		9 Months Ended
	Jul. 16, 2024 shares	Jan. 03, 2024 tranche shares	Sep. 27, 2024 shares	Sep. 29, 2023 shares	Sep. 27, 2024 shares	Sep. 29, 2023 shares
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share			1,720,628	1,073,464	1,311,385	1,127,227
LimaCorporate S.p.A.
Business Acquisition [Line Items]
Shares issuable in acquisition (in shares)		1,942,686
Contingent consideration, number of tranches | tranche		2
Contingent consideration, liability, number of shares issued	971,343
LimaCorporate S.p.A. | Minimum
Business Acquisition [Line Items]
Contingent consideration, share issuance period		6 months
LimaCorporate S.p.A. | Maximum
Business Acquisition [Line Items]
Contingent consideration, share issuance period		12 months

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Income Tax Disclosure [Abstract]
Loss from continuing operations before income taxes	$ (42,601)	$ (25,503)	$ (149,198)	$ (74,785)
Income tax benefit	$ (9,096)	$ (6,052)	$ (25,408)	$ (17,878)
Effective tax rate	21.40%	23.70%	17%	23.90%

Equity Textual (Details)

Equity Textual (Details)	Sep. 27, 2024 USD ($)
Equity [Abstract]
Stock repurchase program, authorized amount	$ 100,000,000

Equity - AOCL Components (Detai

Equity - AOCL Components (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	$ (24,881)
Foreign currency translation adjustment	6,934	$ 3,858
Loss on hedge activity	(36,006)	(2,290)
Other comprehensive income (loss) before reclassifications	(29,072)	1,568
Amounts reclassified from Accumulated other comprehensive loss	(998)	(1,053)
Net current period other comprehensive income (loss)	(30,070)	515
Ending Balance	(54,951)
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(24,881)	(53,430)
Ending Balance	(54,951)	(52,915)
Net Unrecognized Pension Benefit Cost
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	5,008	12,207
Foreign currency translation adjustment	3	108
Loss on hedge activity	0	0
Other comprehensive income (loss) before reclassifications	3	108
Amounts reclassified from Accumulated other comprehensive loss	(104)	(1,221)
Net current period other comprehensive income (loss)	(101)	(1,113)
Ending Balance	4,907	11,094
Foreign Currency Translation Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(2,016)	(65,637)
Foreign currency translation adjustment	6,931	3,750
Loss on hedge activity	0	0
Other comprehensive income (loss) before reclassifications	6,931	3,750
Amounts reclassified from Accumulated other comprehensive loss	0	0
Net current period other comprehensive income (loss)	6,931	3,750
Ending Balance	4,915	(61,887)
Unrealized Gain (Loss) on Hedging Activities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(27,873)	0
Foreign currency translation adjustment	0	0
Loss on hedge activity	(36,006)	(2,290)
Other comprehensive income (loss) before reclassifications	(36,006)	(2,290)
Amounts reclassified from Accumulated other comprehensive loss	(894)	168
Net current period other comprehensive income (loss)	(36,900)	(2,122)
Ending Balance	$ (64,773)	$ (2,122)

Inventories, Net (Details)

Inventories, Net (Details) - USD ($) $ in Thousands	Sep. 27, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 94,995	$ 88,129
Work in process	48,533	39,310
Finished goods	536,327	406,931
Inventory, gross	679,855	534,370
Less: Allowance for excess, slow-moving and obsolete inventory	(70,190)	(65,538)
Inventories, net	$ 609,665	$ 468,832

Debt - Components (Details)

Debt - Components (Details) - USD ($) $ in Thousands	Sep. 27, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Total debt	$ 1,345,469	$ 466,164
Less: current portion	(20,029)	0
Long-term debt	1,325,440	466,164
Term loan
Debt Instrument [Line Items]
Total debt	382,037	0
Senior unsecured convertible notes
Debt Instrument [Line Items]
Total debt	448,306	446,164
Revolving credit facilities and other
Debt Instrument [Line Items]
Total debt	$ 515,126	$ 20,000

Debt -Textual (Details)

Debt -Textual (Details) $ / shares in Units, $ in Millions			9 Months Ended
	Oct. 24, 2023 USD ($) day $ / shares	Oct. 23, 2023 USD ($)	Sep. 27, 2024 USD ($)	Apr. 04, 2022 USD ($)
Debt Instrument [Line Items]
Letters of credit and surety bonds outstanding			$ 24.6
Deferred financing costs			2.7
Original issue discount fees and issuance costs			(14.7)
Interest Rate Cap
Debt Instrument [Line Items]
Adjustments to Additional Paid in Capital, Payment of Derivative Transactions	$ 62
Derivative, Market Price, Initial Cap Price | $ / shares	$ 89.72
Overdraft Facilities | Line of Credit
Debt Instrument [Line Items]
Credit facility			$ 30
Enovis Credit Agreement | Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Credit facility				$ 900
Debt covenant, maximum total leverage ratio				3.50
Debt instrument covenant minimum interest coverage ratio				3
Weighted average interest rate			7.16%
Amount available on the Revolver			$ 385
Enovis Credit Agreement | Secured Debt | Line of Credit
Debt Instrument [Line Items]
Principal amount		$ 400		$ 450
Debt Instrument, Periodic Payment, Principal		$ 5
Debt Instrument, Periodic Payment, Percentage of Initial Principal Amount		1.25%
Enovis Credit Agreement | Bridge Loan | Line of Credit
Debt Instrument [Line Items]
Credit facility				$ 50
2028 Convertible Senior Notes | Senior unsecured convertible notes
Debt Instrument [Line Items]
Principal amount	$ 460
Debt instrument, interest rate, stated percentage	3.875%
Debt convertible, conversion price (in usd per share) | $ / shares	$ 58.32
Effective interest rate	4.60%
Interest expense			15.1
Interest expense based upon coupon rate			13.2
Accretion of debt discount			$ 1.9
Debt convertible, conversion ratio	0.0171474
2028 Convertible Senior Notes | Senior unsecured convertible notes | Debt Conversion Terms One
Debt Instrument [Line Items]
Debt Instrument, Convertible, Threshold Trading Days | day	20
Debt Instrument, Convertible, Threshold Consecutive Trading Days | day	30
Debt convertible, threshold percentage of stock price trigger (in usd per share)	130%
2028 Convertible Senior Notes | Senior unsecured convertible notes | Debt Conversion Terms Two
Debt Instrument [Line Items]
Debt Instrument, Convertible, Threshold Trading Days | day	5
Debt Instrument, Convertible, Threshold Consecutive Trading Days | day	5
Debt convertible, threshold percentage of stock price trigger (in usd per share)	98%

Accrued Liabilities - Schedule

Accrued Liabilities - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 27, 2024	Dec. 31, 2023
Accrued Liabilities [Abstract]
Accrued compensation and related benefits	$ 87,257	$ 70,979
Contingent consideration - current portion	50,601	5,972
Accrued third-party commissions	34,338	28,539
Lease liability - current portion	21,547	21,568
Derivative liability - current portion	21,150	278
Accrued taxes	18,455	14,384
Accrued rebates	18,936	14,464
Accrued professional fees	9,602	13,037
Accrued interest	8,859	3,765
Accrued freight	6,817	3,909
Customer advances and billings in excess of costs incurred	5,869	2,953
Accrued royalties	5,828	6,944
Warranty liability	2,657	2,959
Accrued restructuring liability	2,293	2,276
Other	57,947	45,105
Accrued liabilities	$ 352,156	$ 237,132

Accrued Liabilities -Restructur

Accrued Liabilities -Restructuring Rollforward (Details) $ in Thousands	9 Months Ended
	Sep. 27, 2024 USD ($)
Restructuring Reserve [Roll Forward]
Balance at Beginning of Period	$ 2,276
Provisions before non-cash charges	17,008
Non cash impairment restructuring provisions	5,555
Restructuring, Settlement and Impairment Provisions	22,563
Payments	(17,042)
Foreign Currency Translation	51
Balance at End of Period	2,293
Prevention and Recovery
Restructuring Reserve [Roll Forward]
Restructuring, Settlement and Impairment Provisions	12,500
Reconstructive Segment
Restructuring Reserve [Roll Forward]
Restructuring, Settlement and Impairment Provisions	10,100
Termination benefits
Restructuring Reserve [Roll Forward]
Balance at Beginning of Period	2,195
Provisions before non-cash charges	9,831
Payments	(9,791)
Foreign Currency Translation	51
Balance at End of Period	2,286
Facility closure costs
Restructuring Reserve [Roll Forward]
Balance at Beginning of Period	81
Provisions before non-cash charges	7,177
Payments	(7,251)
Foreign Currency Translation	0
Balance at End of Period	$ 7

Financial Instruments and Fai_3

Financial Instruments and Fair Value Measurements - Narrative (Details) € in Millions, SFr in Millions, $ in Millions			1 Months Ended	3 Months Ended			9 Months Ended
	Jul. 16, 2024 shares	Jan. 03, 2024 USD ($) tranche shares	Apr. 30, 2024 USD ($)	Sep. 27, 2024 USD ($) contingentConsideration	Jan. 03, 2024 USD ($) tranche	Sep. 29, 2023 USD ($)	Sep. 27, 2024 USD ($) contingentConsideration	Sep. 29, 2023 USD ($)	Sep. 27, 2024 MXN ($) contingentConsideration	Sep. 27, 2024 CHF (SFr) contingentConsideration	Apr. 18, 2024 USD ($)	Apr. 18, 2024 CHF (SFr)	Dec. 31, 2023 USD ($)	Sep. 29, 2023 MXN ($)	Sep. 22, 2023 EUR (€)
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Long-term debt, fair value				$ 1,400,000,000			$ 1,400,000,000						$ 573,200,000
Contingent consideration, liability				$ 63,686,000			63,686,000						26,025,000
Payment for contingent consideration liability							$ 51,857,000
Number of contingent consideration arrangements, unlimited and based on percentage of sales in excess of benchmark | contingentConsideration				1			1		1	1
Charges / (Gain)				$ (100,000)			$ (19,922,000)	$ 0
Payment for settlement of derivatives			$ 4,600,000				4,645,000	0
Gain recognized in other comprehensive income				(71,672,000)		$ 4,337,000	(48,189,000)	(2,853,000)
Currency Swap
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Gain recognized in other comprehensive income			$ 700,000	(71,329,000)		5,991,000	(45,904,000)	(1,199,000)
Currency Swap | Net Investment Hedging
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Derivative, notional amount				1,350,000,000			1,350,000,000			SFr 1,220	$ 450,000,000	SFr 403
Derivative, interest income				11,700,000			19,900,000
Forward Currency Contracts
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Derivative, notional amount				12,000,000		59,900,000	12,000,000	59,900,000	$ 210					$ 1,050
Gain (loss) on derivative				(100,000)		200,000	400,000	200,000
Gain recognized in other comprehensive income				$ (343,000)		$ (1,654,000)	(2,285,000)	$ (1,654,000)
Foreign Exchange Forward | Not Designated As Hedging Instrument
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Gain (loss) on derivative					$ 13,400,000		$ (11,100,000)
Measurement Input, Expected Term | Maximum
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Contingent consideration, measurement input				5			5		5	5
2022 Acquisitions
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Contingent consideration arrangements, maximum range low				$ 0			$ 0
Contingent consideration arrangements, maximum range high				7,500,000			7,500,000
LimaCorporate S.p.A.
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Contingent consideration, liability		$ 107,877,000			$ 107,877,000
Shares issuable in acquisition (in shares) | shares		1,942,686
Value of shares issuable in acquisition | €															€ 100
Contingent consideration, liability, number of shares issued | shares	971,343
Contingent consideration, number of tranches | tranche		2			2
LimaCorporate S.p.A. | Minimum
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Contingent consideration, share issuance period		6 months
LimaCorporate S.p.A. | Maximum
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Contingent consideration, share issuance period		12 months
Fair Value, Inputs, Level 3
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Contingent consideration, liability				21,307,000			21,307,000						26,025,000
Reduction in contingent consideration, net							4,700,000
Payment for contingent consideration liability							6,281,000
Charges / (Gain)							0
Fair Value, Inputs, Level 2
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Deferred compensation plans asset				$ 17,000,000			$ 17,000,000						$ 14,400,000

Financial Instruments and Fai_4

Financial Instruments and Fair Value Measurements-Contingent Consideration Liability (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 27, 2024	Sep. 27, 2024	Sep. 29, 2023
Business Combination, Contingent Consideration, Liability [Roll Forward]
Contingent Consideration, Beginning Balance		$ 26,025
Additions		109,291
Charges / (Gain)	$ (100)	(19,922)	$ 0
Interest		0
Payments		(51,857)
Foreign Exchange		149
Contingent Consideration, Ending Balance	63,686	63,686
Fair Value, Inputs, Level 3
Business Combination, Contingent Consideration, Liability [Roll Forward]
Contingent Consideration, Beginning Balance		26,025
Additions		1,414
Charges / (Gain)		0
Interest		0
Payments		(6,281)
Foreign Exchange		149
Contingent Consideration, Ending Balance	21,307	21,307
Fair Value, Inputs, Level 1
Business Combination, Contingent Consideration, Liability [Roll Forward]
Contingent Consideration, Beginning Balance		0
Additions		107,877
Charges / (Gain)		(19,922)
Interest		0
Payments		(45,576)
Foreign Exchange		0
Contingent Consideration, Ending Balance	$ 42,379	$ 42,379

Financial Instruments and Fai_5

Financial Instruments and Fair Value Measurements - Schedule of Effect of Designated Hedges Instruments on Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Apr. 30, 2024	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Derivative [Line Items]
Gain recognized in other comprehensive income		$ (71,672)	$ 4,337	$ (48,189)	$ (2,853)
Currency Swap
Derivative [Line Items]
Gain recognized in other comprehensive income	$ 700	(71,329)	5,991	(45,904)	(1,199)
Forward Currency Contracts
Derivative [Line Items]
Gain recognized in other comprehensive income		$ (343)	$ (1,654)	$ (2,285)	$ (1,654)

Financial Instruments and Fai_6

Financial Instruments and Fair Value Measurements Derivative Instruments in Consolidated Balance Sheet (Details) - USD ($) $ in Thousands	Sep. 27, 2024	Dec. 31, 2023
Derivative [Line Items]
Derivative asset	$ 33,617	$ 34,804
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other current assets	Other current assets
Designated As Hedging Instrument
Derivative [Line Items]
Derivative asset	$ 33,617	$ 10,493
Derivative liability	112,783	47,231
Forward Currency Contracts | Designated As Hedging Instrument
Derivative [Line Items]
Derivative asset	0	432
Derivative liability	$ 1,356	$ 278
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Accrued liabilities	Accrued liabilities
Currency Swap | Designated As Hedging Instrument
Derivative [Line Items]
Derivative asset	$ 33,617	$ 10,061
Currency Swap | Designated As Hedging Instrument | Accrued Expenses
Derivative [Line Items]
Derivative liability	19,794	0
Currency Swap | Designated As Hedging Instrument | Other Noncurrent Liabilities
Derivative [Line Items]
Derivative liability	91,633	46,953
Foreign Exchange Forward | Not Designated As Hedging Instrument
Derivative [Line Items]
Derivative asset	$ 0	$ 24,311

Segment Information - Results a

Segment Information - Results and Reconciliation of Operating Loss to Adjusted EBITDA (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 27, 2024	Sep. 29, 2023	Sep. 27, 2024	Sep. 29, 2023
Segment Reporting Information [Line Items]
Net sales	$ 505,222	$ 417,524	$ 1,546,648	$ 1,252,177
Segment Operating Income	90,203	65,386	263,651	187,480
Loss from continuing operations before income taxes (GAAP)	(42,601)	(25,503)	(149,198)	(74,785)
Restructuring and other related charges	7,786	5,341	25,284	12,083
MDR and other costs	5,297	6,228	14,757	23,021
Strategic transaction costs (3)	21,428	10,482	64,958	27,547
Stock-based compensation	7,827	8,366	21,868	24,142
Depreciation and other amortization	28,440	21,492	85,740	62,237
Amortization of acquired intangibles	42,786	33,967	124,653	98,256
Inventory step-up	8,376	2	37,361	148
Interest expense, net	11,066	5,768	48,031	15,496
Other (income) expense, net (4)	(202)	(757)	(9,803)	(665)
Segment Operating Income	90,203	65,386	263,651	187,480
Cost of Sales
Segment Reporting Information [Line Items]
Restructuring and other related charges	2,700	0	2,700	300
Prevention and Recovery
Segment Reporting Information [Line Items]
Net sales	274,244	270,287	811,011	794,502
Segment Operating Income	42,776	44,102	111,840	109,123
Segment Operating Income	42,776	44,102	111,840	109,123
Reconstructive Segment
Segment Reporting Information [Line Items]
Net sales	230,978	147,237	735,637	457,675
Segment Operating Income	47,427	21,284	151,811	78,357
Segment Operating Income	$ 47,427	$ 21,284	$ 151,811	$ 78,357