In mid-December there was at least some chance that ortho giant Zimmer (NYSE:ZMH ) would make a bid for Biomet and become the dominant company in hip and knee implants, as well as leverage stronger share in areas like extremities, dental, trauma, and spine. That speculation has come to pass, as Zimmer has announced a $13.35 billion bid for Biomet. Assuming the deal passes regulatory scrunity, Zimmer is likely to see meaningful cost synergy, but there are risks involved in devoting such a large amount of capital to a market with some growth challenges.
Friday, April 25, 2014
Thursday, April 24, 2014
April 24, 2014--(online.wsj.com-Lauren Pollock), Zimmer Holdings Inc. agreed to buy fellow orthopedic device maker Biomet Inc. for about $13.35 billion in cash and stock, in a bid to position the combined company as a leader in the musculoskeletal industry.
Wednesday, April 23, 2014
K2M Group Holdings, which develops and sells medical devices for use in spinal surgeries, announced terms for its IPO on Tuesday. The Leesburg, VA-based company plans to raise $150 million by offering about 8.8 million shares at a price range of $16 to $18. At the midpoint of the proposed range, it would command a fully diluted market value of $677 million.
Tuesday, April 22, 2014
LEWISVILLE, TEXAS — Orthofix International N.V., (NASDAQ:OFIX) today announced that it has appointed David E. Ziegler as Interim Chief Financial Officer (CFO). Mr. Ziegler succeeds Emily Buxton who has voluntarily resigned from the Company. Orthofix and its Board of Directors are conducting an executive search to identify a permanent CFO.
The US market for spinal implants will grow primarily due to the aging population in the US, and the IBD segment is expected to grow faster than the overall spinal market, from over $1.2 billion in 2011 to over $1.5 billion in 2016. (Source:Millennium Research Group).
Monday, April 21, 2014
NuVasive, which develops surgical products and procedures for the spine, expects further growth from expanding middle-class populations in India and China.Former professional basketball star Bill Walton's back and leg pain was once so severe that he considered suicide. Nothing worked until he underwent spinal surgery with a procedure by NuVasive Inc.
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Friday, April 18, 2014
April 16, 2014 by Zoll, Kranz & Borgess LLC--On Friday April 11, the law firm of Zoll, Kranz & Borgess, LLC filed a lawsuit behalf of a group of fourteen plaintiffs against Howmedica Osteonics Corp. (which does business as Stryker Spine) alleging Howmedica’s trial device called called CerviCore injured them.