Zimmer Biomet Completes Acquisition of LDR
Zimmer Biomet completed its offer to purchase all outstanding shares of LDR common stock for US $37/share. As previously-announced, the transaction is valued at ~$1.0BB.
Zimmer Biomet gains access to the Mobi-C® cervical disc, now one of two two cervical discs that are FDA-approved for one‐level and two‐level disc replacement indications. (Medtronic’s cervical disc, Prestige LP, has received FDA approval for a two-level indication.) As of April 2016, Mobi-C passed >$100MM in cumulative U.S. revenue since its 2013 launch.
ZBH also now owns the ROI-C® Titanium-Coated Cervical Cage, which was recently used in initial implantations during limited launch.
Sources: Zimmer Biomet, Inc.; ORTHOWORLD Inc.