Warsaw-based Zimmer Biomet Holdings Inc. (NYSE: ZBH) has acquired Delaware-based CD Diagnostics. While financial details were not disclosed, the company says the deal will strengthen its musculoskeletal diagnostic offerings.
Zimmer Biomet says the two companies originally partnered up in 2012, with Zimmer Biomet marketing the first diagnostic test for periprosthetic joint infection. Carl Deirmengian, scientific founder of CD Diagnostics, calls Zimmer Biomet the "ideal partner."
"Our acquisition of CD Diagnostics cements our leadership and competitive advantage in musculoskeletal diagnostics, strengthens our Signature Solutions offering, and advances our mission to provide comprehensive musculoskeletal healthcare," said Dan Williamson, group president, joint reconstruction for Zimmer Biomet. "We’re excited to team up with CD Diagnostics to accelerate the pace of innovation in musculoskeletal diagnostics, ramp up adoption of testing into standard protocols, and arm surgeons with critical data to inform diagnosis, staging, treatment and recovery."
The deal is the latest in a number of acquisition announcements in recent months for Zimmer Biomet. Last month, the company announced it was planning to acquire a majority share of France-based Medtech SA. The company also announced plans in June to acquire Texas-based LDR Holding Corp. (Nasdaq: LDRH) in a $1 billion deal.