Biomet Makes a Public Bid to Acquire Depuy Trauma Business For $280M Cash
J&J's DePuy Orthopaedics OKs Biomet bid for trauma business (press release)
Johnson & Johnson's DePuy Orthopaedics division agrees to a $280 million offer for its global trauma business from Biomet in order to appease EuroZone regulators about J&J's $21.3 billion acquisition of Synthes.
Johnson & Johnson subsidiary DePuy Orthopedics accepted a $280 million cash offer for its global trauma business from Biomet Inc., part of concessions the healthcare conglomerate made to assuage EuroZone regulators about its $21.3 billion deal for Swiss ortho giant Synthes.
DePuy accepted the offer after a round of "consultation obligations with various European works councils," according to a regulatory filing by Warsaw, Ind.-based Biomet.
That company hopes to expand its sports, extremities and trauma division with the acquisition, which will see DePuy's trauma employees folded into the Biomet team. A Biomet spokesman declined to disclose additional terms of the deal when it was announced April 3, but told MassDevice.com that the company intends "to invest in and grow our combined trauma business well ahead o...
