Warsaw-based Zimmer Biomet Holdings Inc. (NYSE: ZBH) has completed the acquisition of LDR Holding Corp. in Texas. Zimmer Biomet says the $1 billion deal makes it a global leader in the $10 billion spine industry.
The acquisition was announced last month. Chief Executive Officer David Dvorak says Zimmer and its wholly-owned subsidiary are "well-positioned in the fast growing cervical disc replacement segment. Importantly, this combination is consistent with our goal of driving meaningful growth across all musculoskeletal markets with innovative products, technologies and services that enhance patient outcomes."
The business will be headed up by Spine, CMF and Thoracic, and Dental Group President Adam Johnson, who said last month the combination involves minimal overlap of existing products.The unit is headquartered in Colorado and Zimmer says it plans to also maintain a presence in LDR’s "strong technology hubs" in Texas and France.
Zimmer Biomet has a presence in 25 countries, employing more than 8,500 globally.