Zimmer must divest pipeline projects, IP rights, licenses and customer contracts to satisfy EU

EU flagZimmer wins EU approval for $13.4 billion Biomet acquisition (press release)

(Reuters) – U.S. medical device maker Zimmer (ZMH.N) gained European Union regulatory approval on Monday for its proposed $13.4 billion purchase of rival Biomet [LVBHAB.UL] after agreeing to divest three businesses in Europe to allay competition concerns.

Zimmer, set to become the No. 2 player in the $45 billion global orthopedics market following the deal, will sell its knee implant unit and Biomet’s elbow implant unit in Europe, as well as Biomet’s knee implant brand in Denmark and Sweden.

The divestments include pipeline projects, intellectual property rights, licenses and customer contracts.

The European Commission said the businesses will be sold to one or several rivals.

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