Following the receipt of US Federal Trade Commission clearance, Zimmer has completed the acquisition of Biomet in a cash and equity transaction currently valued at approximately US$14bn. Zimmer has now changed its corporate name to Zimmer Biomet Holdings, Inc. The company will trade on the New York Stock Exchange and the SIX Swiss Exchange under the ticker symbol “ZBH” beginning on 29 June.
“The coming together of Zimmer and Biomet is a momentous achievement. We are excited to move forward as one company and to pursue new opportunities that benefit patients, healthcare professionals and employees around the globe,” said David Dvorak, president and chief executive officer of Zimmer Biomet. “Over the past several months, our integration planning teams have been working to ensure that we capture the best of both companies and create a seamless and efficient transition. I look forward to continuing to work closely with our employees for the benefit of all of our stakeholders.”
The company has also unveiled a new logo, designed to utilise the visual components of both the Zimmer and Biomet brands.
Dvorak continued, “Each of our companies has a proud heritage. Just as the Zimmer Biomet name leverages the strong brand equity of both companies, the company logo combines Zimmer’s iconic symbol with elements of Biomet’s corporate identity.”