Zimmer Biomet Holdings, Inc. (NYSE: ZBH) strengthened its spinal business with the $1.0 billion acquisition of LDR Holding Corporation (NASDAQ: LDRH). Founded in France in 2000, LDR designs and commercializes various surgical technologies for the treatment of patients suffering from spine disorders.

Its primary product offerings are the Mobi-C cervical disc replacement (CDR) device and MIVo portfolio to support lumbar and cervical fusion procedures, both of which complement Zimmer Biomet’s current portfolio.

The CDR segment is one of the fastest growing within the $10 billion spine industry. Combined, Zimmer Biomet and LDR create a differentiated and comprehensive Spine portfolio.

Zimmer Biomet will commence a tender offer to acquire all of the outstanding shares of LDR for $37.00 per share in cash.

Goldman, Sachs & Co. is acting as financial advisor to Zimmer Biomet and White & Case LLP is acting as legal advisor. BofA Merrill Lynch is acting as financial advisor to LDR and Andrews Kurth LLP is acting as legal advisor.