Zimmer-Biomet Merger Spurs More Deals

After more than a year of regulatory reviews in the United States and Europe, Warsaw, Indiana-based Zimmer Holdings (NYSE: ZMH) and its cross-town rival Biomet, Inc., finally tied the knot on June 24, 2015. In April 2014, when the deal was first announced, the price was put at $13.35 billion. At closing, management stated that the value of the deal was approximately $14 billion. The combined company will be known as Zimmer Biomet Holdings, Inc., and will trade on the NYSE and SIX under the ticker symbol ZBH. The acquisition was conditioned upon the sale of some Zimmer and Biomet assets, and hot on the heels of the closing, Smith & Nephew (NYSE: SNN) acquired Zimmer’s Unicompartmental High Flex Knee system in the U.S. market, and privately held DJO Global, Inc. purchased Biomet’s Cobalt™ Bone Cement, Optivac® Cement Mixing accessories and Discovery® Elbow System for the U.S. market. Terms of those deals were not disclosed.

 

 

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