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US Zimmer pays USD14b for Biomet
(MENAFN) The United States' Zimmer Holdings Inc. is set to pay USD14 billion to purchase its rival orthopedic products maker Biomet Inc., according to a corporate statement, Reuters reported.
The new acquisition entails that Biomet will have to change its name to Zimmer Biomet Holdings and that Zimmer will get certain assests such as knee implants, total elbow implants and bone cement, according to the Federal Trade Commission.
Zimmer had said that the deal would double the size of its spine and dental business, broaden its portfolio of products to treat bones, knees and hips, and give it an entry into the smaller but growing field of sports medicine.
The new acquisition entails that Biomet will have to change its name to Zimmer Biomet Holdings and that Zimmer will get certain assests such as knee implants, total elbow implants and bone cement, according to the Federal Trade Commission.
Zimmer had said that the deal would double the size of its spine and dental business, broaden its portfolio of products to treat bones, knees and hips, and give it an entry into the smaller but growing field of sports medicine.
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