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Corin to acquire Australia's Global Orthopaedic Technology

Corin Group PLC, a privately held orthopedic device maker in the U.K., agreed to acquire Australia's Global Orthopaedic Technology Pty Ltd.

Financial details of the transaction were not disclosed.

Global Orthopaedic Technology manufactures orthopedic implants. Corin said the acquisition will strengthen its position as a global leader in the hip and knee joint replacement market, and boost its operations in Australia.

Corin is backed by investment firm Permira Holdings Ltd.