Dental News - Zimmer completes combination with Biomet

Dental Tribune USA

Mon. 29 June 2015

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WARSAW, Ind., USA: Zimmer Holdings (NYSE and SIX: ZMH) has announced that, following the receipt of U.S. Federal Trade Commission clearance, 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 company began trading on the New York Stock Exchange and the SIX Swiss Exchange under the ticker symbol ZBH beginning June 29.

“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 CEO 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.”

According to a company press release, 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 provide for increased competitiveness in core franchises and a stronger presence in emerging markets. Zimmer Biomet also expects to create operational synergies that will enhance value for stockholders.

The company unveiled its new logo, which was designed to utilize the visual components of both the legacy Zimmer and Biomet brands.

“Each of our companies has a proud heritage,” Dvorak said. “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.”

Additionally, the company unveiled a new tagline — “Your progress. Our promise.” — which is designed to underscore the company’s longstanding commitment to helping people live better lives.

(Source: PRNewswire)

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