Zimmer Acquires Massachusetts Company
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowWarsaw-based Zimmer Holdings Inc. (NYSE: ZMH) has announced the acquisition of a Massachusetts biomatierials manufacturer. Zimmer Americas President Joseph Cucolo says the deal for ETEX Holdings Inc. bolsters the company's portfolio of joint disease treatment technology. October 2, 2014
News Release
WARSAW, Ind. (October 1, 2014) – Zimmer Holdings, Inc. (NYSE and SIX: ZMH) announced today that it has acquired the business of Cambridge, Massachusetts-based ETEX Holdings, Incorporated. The financial terms of the transaction were not disclosed. The acquisition enhances Zimmer's Biologics portfolio of differentiated treatments through the addition of ETEX's Beta-bsm (Injectable), CarriGen, EquivaBone (including DBM), and Gamma-bsm (Putty) bone void filler products.
“Since 1989, ETEX has been focused on Dosuk Lee's vision of providing clinical solutions that advance the orthopaedic standard of care. His breakthrough technology in biomimetic calcium phosphate, which mimics the chemical and structural features of human bone, promotes natural bone regeneration that positively impacts patients' lives,” said Stephen R. La Neve, ETEX President and Chief Executive Officer. “Zimmer's long history, dedication and focus in the orthopaedic market is a perfect complement to our technology and dramatically expands our ability to reach a broader array of clinicians.”
“Zimmer is committed to developing the most comprehensive range of biologic therapies for patients suffering from musculoskeletal joint disease, from early intervention solutions like Gel-One Cross-linked Hyaluronate and joint preservation solutions like Zimmer Knee Creations Subchondroplasty Procedure, along with Zimmer's Chondrofix Osteochondral Allograft and Denovo NT Natural Tissue Graft personalized cartilage solutions. ETEX's innovative bone substitute material products add more depth to a growing portfolio of solutions for the early stages of joint disease,” said Joseph A. Cucolo, President, Zimmer Americas.
Gel-One is a registered trademark of Seikagaku Corporation.
About the Company
Founded in 1927 and headquartered in Warsaw, Indiana, Zimmer designs, develops, manufactures and markets orthopaedic reconstructive, spinal and trauma devices, dental implants, and related surgical products. Zimmer has operations in more than 25 countries around the world and sells products in more than 100 countries. Zimmer's 2013 sales were approximately $4.6 billion. The Company is supported by the efforts of more than 9,000 employees worldwide. More information about Zimmer is available at www.zimmer.com.
About ETEX Holdings, Inc.
Established in 1989, ETEX Holdings, Inc. develops, manufactures and commercializes calcium phosphate-based biomaterials for improved orthopedic clinical outcomes. A leader in bioresorbable bone substitute materials, ETEX focuses on expanding applications through combinations with cells, biologics, or therapeutic agents delivered in minimally invasive and easy to use systems. For more information, visit www.etexcorp.com.
Source: Zimmer Holdings Inc.