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Zimmer Biomet and LDR announced that they have approved a definitive agreement under which Zimmer Biomet will commence a tender offer to acquire all of the outstanding shares of LDR, which implies a transaction value of approximately $1.0 billion. The transaction is subject to customary closing conditions and is expected to close in the third quarter of 2016.
The addition of LDR will bolster Zimmer Biomet’s presence in the global Spine market and provide the company with an immediate and a leading position in the fast growing cervical disc replacement (CDR) and MIS segments. The combination is expected to meaningfully accelerate the growth of Zimmer Biomet’s Spine business through the incremental revenues associated with entry into the cervical disc replacement market and cross-portfolio selling opportunities to both Zimmer Biomet and LDR customer bases.
“This highly strategic and complementary transaction will enhance Zimmer Biomet’s innovation leadership in musculoskeletal healthcare by adding a premier spine platform to our portfolio of solutions,” said David Dvorak, President and CEO of Zimmer Biomet. “This combination is consistent with our goal of driving meaningful growth across all musculoskeletal markets with innovative products, technologies and services that enhance patient outcomes. The talented LDR team uniquely shares our deeply held commitment to innovating in a manner that restores mobility and alleviates pain for patients around the world, and we look forward to welcoming them to Zimmer Biomet. We are confident that the combination of Zimmer Biomet’s Spine division and LDR will create a Spine company with the scale, talent and technology portfolio to become a leader in the $10 billion global Spine market.”
LDR will be combined with Zimmer Biomet’s spine and craniomaxillofacial category, led by Zimmer executive Adam Johnson. Christophe Lavigne, LDR’s founder and CEO, and Patrick Richard, co-founder and executive vice president, will take leadership positions in Zimmer Biomet’s global spine business, according to the company.
Christophe Lavigne, Co-Founder, Chairman, President and CEO of LDR, said, “We are delighted with this combination, which will further our commitment to improving spine care by providing greater access to our innovative product offerings for patients around the world, while offering our stockholders immediate cash value. We have great respect for the Zimmer Biomet team, who shares our passion for innovation as well as our commitment to patients and providers. We look forward to working closely with Zimmer Biomet to achieve a seamless transition and create lasting value for all of our stakeholders.”
Zimmer Biomet expects the acquisition to make it a leader in cervical disc replacement and minimally invasive surgery, in part because LDR’s Mobi-C device is the only FDA approved device for adjacent one- and two-level disc replacements. LDR’s MIVo portfolio of minimally invasive lumbar and cervical fusion procedures is also expected to be a complement to Zimmer Biomet’s existing spinal business.
For Further Information
More on the craniomaxillofacial market in the U.S. can be found in the report published by iData entitled U.S. Market for Craniomaxillofacial and Thoracic Surgery Devices. This report also covers U.S. market segments for CMF plate and screw fixation, CMF bone graft substitutes, cranial flap fixation, dural repair, temporomandibular joint replacement, and thoracic surgery.
The report analyzes major companies within the space including, DePuy Synthes, Stryker, Biomet, KLS Martin, Integra LifeSciences, OsteoMed, Ethicon, Medtronic, Baxter, RTI Surgical, Aesculap, TMJ Concepts, Nexus CMF, Acute Innovations, MedXpert, Cook Medical and others. The full report also provides a comprehensive analysis including units sold, procedure numbers, market value, forecasts, as well as detailed competitive market shares and analysis of major players’ success strategies in each market and segment. To find out more about cranial flap fixation market data or procedure data, register online or email us at [email protected] for a U.S. Market for Craniomaxillofacial and Thoracic Surgery Devices report brochure and synopsis.
About Procedure Tracker
Procedure number data is available from iData’s Procedure Tracker service, which allows subscribers to define and analyze procedure data segmented by state, region, hospital, surgery centre, and physician. A customizable dashboard sorts procedure data for further analysis and research.
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