Zimmer Biomet to acquire LDR

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Zimmer Biomet and LDR have announced a definitive agreement under which Zimmer Biomet will acquire all of the outstanding shares of LDR.

The purchase price has been agreed at US$37.00 per share in cash, which implies a transaction value of approximately US$1.0 billion. The transaction is expected to close in the third quarter of 2016.

Zimmer Biomet hopes that the acquisition will bolster Zimmer Biomet’s presence in the global spine market and provide the company with an immediate, leading position in the cervical disc replacement and minimally invasive surgery segments.

David Dvorak, president and chief executive officer of Zimmer Biomet says, “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.”

notes, the proceeds of which will be used to repay the credit facility. Zimmer Biomet intends to maintain its previously discussed deleveraging strategy.

Upon consummation of the transaction, LDR will be combined with Zimmer Biomet’s Spine & CMF category and will be led by Adam Johnson, Zimmer Biomet Group president of Spine, CMF and Thoracic, and Dental.