On June 24 Zimmer Holdings, Inc. (NYSE and SIX: ZMH) announced that Zimmer has completed the acquisition of Biomet in a cash and equity transaction currently valued at approximately $14.0 billion. In connection with the combination, Zimmer has changed its corporate name to Zimmer Biomet Holdings, Inc. The complete press release can be seen on the Zimmer Biomet webpage.
As part of this transaction, Biomet’s consulting division, Orthopaedic Advantage, will be fully integrated with Accelero under the Zimmer Biomet Performance Improvement Solutions group. “There are great synergies between Orthopaedic Advantage and Accelero. We are looking forward to the integration of these two groups to provide even greater value to our customers,” said Joe Tomaro, General Manager of Accelero and Performance Improvement Solutions.
Zimmer Biomet will be a leading innovator in the $45 billion musculoskeletal healthcare market, committed to creating innovative solutions for the evolving global healthcare industry. The Company will offer a comprehensive and diversified portfolio of musculoskeletal solutions. The scale of Zimmer Biomet will enable Accelero to work with a greater volume of musculoskeletal programs and expand their expertise.