Biomet Completes DePuy Trauma Acquisition
In the wake of closing on the DePuy Orthopedics Inc. trauma business, Warsaw, Ind.-based Biomet Inc. is shuttering DePuy’s Swiss manufacturing plant in Le Locle. The plant employs 230 people, and company officials said that it will relocate as many workers as possible before the closure is complete in June next year.
The company blames a sagging economy and declining global prices for medical devices for the closure. Operations at the closed plant will be distributed between Biomet’s other facilities worldwide.
The DePuy trauma acquisition is valued at approximately $280 million in cash. As part of the initial closing, Biomet has acquired DePuy Trauma’s operations in the United States, the United Kingdom, Australia, New Zealand and Japan, as well as DePuy Trauma’s manufacturing operations in Le Locle.
Closings for the remaining countries will occur on a staggered basis and in general within the next six months and DePuy Orthopaedics’ affiliates will serve as Biomet’s interim distributor in these countries until these country operations are fully transitioned to Biomet.