New Ortho Juggernaut: Zimmer Acquires Biomet For $13.35 Billion
This article was originally published in The Gray Sheet
Zimmer has agreed to buy Biomet by the first quarter of 2015, furthering the trend of consolidation in the $45 billion orthopedic device industry. The companies had combined revenues of $7.8 billion in 2013.
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Zimmer Biomet is now the second-largest orthopedic device maker behind Johnson & Johnson now that the merger between the two firms is complete. The companies divested some U.S. knee, elbow and bone cement assets in conjunction with finalized the deal after having sold of some European assets earlier in the year.
Industry closely scrutinized FDA's premarket review performance as the agency took steps to streamline reviews and remake the U.S. postmarket surveillance system. Meanwhile: device mega-mergers accelerated; one of the most hotly anticipated medtech innovations faltered; and national elections swept in Republican control of Congress. Here is a look back at coverage and analysis from "The Gray Sheet" on six key themes for the medical device and diagnostics industry in 2014.
Zimmer is negotiating with the European Commission on a strategic divestment strategy that would allow European anti-trust regulators to approve Zimmer’s pending acquisition of Biomet.