Zimmer to Buy Biomet for $13.35 Billion

U.S.-based Zimmer Holdings has said it will buy rival orthopedic products maker Biomet for more than $13 billion, the latest deal in a wave of consolidations in the healthcare industry.

It is also the latest successful exit for private equity. In 2007, Biomet was acquired for $11.3 billion by Blackstone, Goldman Sachs's buyout group, Kohlberg Kravis Roberts and TPG Capital.

The deal is expected to take Zimmer from the fourth-largest seller of orthopedics products to no. 2, behind Johnson & Johnson.

Zimmer, which expects to close the deal in the first quarter of 2015, said the combination 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 deal will also significantly add to the company's earnings in the first year and is expected to lead to net annual cost savings of about $270 million by the third year after closing.

Interview

Specialty Chemicals in a Shifting World
Adapting to Tariffs and Strengthening Regional Networks

Specialty Chemicals in a Shifting World

Jennifer Abril, President & CEO of SOCMA, discusses the impact of new tariffs and the importance of regional supply networks in the specialty chemical industry.

Whitepaper

Excellence in Pharmaceutical Distribution and The Critical Role of Good Distribution Practice (GDP)
Setting the Standard

Excellence in Pharmaceutical Distribution and The Critical Role of Good Distribution Practice (GDP)

Are you ready to elevate your pharmaceutical operations? Download our exclusive whitepaper and discover how compliance with Good Distribution Practice (GDP) is essential for the safety and integrity of pharmaceuticals.

most read

Photo
13.03.2025 • News

Roche and Zealand Pharma Collaborate on Weight Management Drug

Swiss pharma heavyweight Roche announced has entered into an exclusive collaboration and licensing agreement with Denmark’s Zealand Pharma. Under the terms of this agreement, the two companies will collaborate to co-develop and co-commercialize petrelintide, Zealand Pharma’s amylin analog as a standalone therapy as well as a fixed-dose combination with Roche’s lead incretin asset CT-388.

Photo
22.04.2025 • News

BASF Divests Two Joint Ventures in China

BASF has divested its shares in the joint venture companies, BASF Markor Chemical Manufacturing (Xinjiang) Co., Ltd. and Markor Meiou Chemical (Xinjiang) Co., Ltd. in Korla, China, to Verde Chemical Singapore Pte. Ltd.