From the archive: InMode moves from UK joint venture to full ownership

In 2014, InMode’s UK business was established through a joint venture structure in which InMode held 51% and Wigmore Medical held 49%.

Seven years later, in May 2021, InMode acquired the remaining 49% stake, bringing the UK operation under full ownership. The deal was completed through a share exchange, with the former minority shareholder receiving InMode ordinary shares.

The transaction is a useful historical example of how an aesthetics manufacturer can enter a market with a local commercial partner, build the operation, and later consolidate ownership.

The Harley View:
As more manufacturers reassess how much control they want over distribution, education and customer access, the InMode/Wigmore structure remains a relevant example of the move from partnership to direct ownership.