ZIMMER AGREES TO BUY BIOMET FOR $13.35 BILLION (Orthopedics This Week)
In a stunning move, cross-town rivals Zimmer Holdings, Inc. and Biomet, Inc. have agreed to combine in a transaction which is valued at just over $13 billion and will affect the work lives of more than 14,000 employees and create a company with combined annual revenues of about $8 billion.
This transaction further consolidates the orthopedic industry as it puts together the #2 player (Zimmer) with the #4 player (Biomet) and reduces the number of major, diversified orthopedic implant and instrument companies from 5 to 4.
The...
