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The global chemical company Evonik announced that Evonik Venture Capital has sold its stake in Synoste Oy to U.S. based Globus Medical. Evonik’s four-and-a-half-year partnership helped in the development of Synoste’s technology for orthopedics and giving Evonik further insights into the medical applications market for its high-performance polymers.

  • Synoste, based in Espoo, Finland, developed a high-tech implant for a minimally invasive treatment of leg length discrepancy, which can lead to chronic back pain and osteoarthritis in the long term.
  • The bone of the shorter leg is lengthened in a gentle way over a period of several months. The Evonik material used in the implant is a high-performance polymer called polyetheretherketone, or PEEK.

The prominent acquisitions and expansion by Evonik are mentioned below:

Aug 2020: Evonik is acquiring the Texas based Porocel Group for approximately US$210 million. The acquisition of Porocel accelerates the growth of its catalysts business of Evonik.

May 2020: Evonik announced an exclusive agreement with Glenn Corporation a division of Azelis Americas. As per agreement Glenn will distribute the product protection line by Evonik’s Dr. Straetmans brand in the United States.

The Evonik Dr. Straetmans product range includes multifunctional antimicrobials and preservative blends, antioxidants and chelating agents.

February 2020: Evonik had announced the acquisition of Princeton based Wilshire Technologies, a leading supplier of phytochemicals and derivatives to the global cosmetic and pharmaceutical industries. The transaction also includes Wilshire Technologies employees, and cosmetic active ingredients portfolio.

February 2020: Evonik had closed the acquisition of the US company PeroxyChem for US$640 million. PeroxyChem is a leading manufacturer of hydrogen peroxide (H2O2) and peracetic acid (PAA) and is well-positioned in high-margin specialty applications.

December 2019: Evonik announced its strategy to increase the capacity of sodium methylate at its Rosario/Santa Fe facility from 60,000 metric tons up to 90,000 metric tons by 2021. Sodium methylate is an important catalyst for large-scale biodiesel production.

About Evonik
Evonik, headquartered at Essen, North Rhine-Westphalia, Germany, is one of the world’s leading specialty chemicals companies. The company is operating in more than 100 countries, and employing approximately 36,000 people across the world. The company’s product makes tires fuel-efficient, mattresses more elastic, medications more effective, and animal feeds healthier. Evonik, provides biomaterials for use in medical implant applications.

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