04.23.15
In order to satisfy European antitrust regulators, Zimmer and Biomet have sold a few key product lines to Italian orthopedic firm Lima Corporate.
Lima will purchase the Unicompartmental High Flex Knee from Zimmer Holdings Inc. and the Biomet Discovery Elbow System within the European Economic Area (EEA) and Switzerland, as well as the Biomet Vanguard Complete Knee System for Denmark and Sweden.
The agreement will become effective after the merger between Zimmer and Biomet has been closed. The termination date for Zimmer Holdings Inc.’s pending $13.4 billion merger with Biomet Inc. has been extended to July 23. The original date the agreement would expire was April 24.
The agreement also transfers to Lima the non-exclusive rights for the manufacturing, marketing and sale of an exact copy of the Vanguard knee in Europe.
"With the launch of Physica, the acquisition of ZUK puts Lima on the map as a serious player in the knee market," said Luigi Ferrari, CEO of Lima Corporate. "To be focused on our historical markets, we decided that the EEA and Switzerland markets would best fit our strategy.”
Lima specializes in the production of titanium and recently released its own total knee system, called Physica.
"This acquisition strategically creates value for Lima," Lima chairman Gabriele Lualdi said in a statement. "The combination of these top-class products to our portfolio and the access to a new healthcare professional customer base will build on the current success Lima already has in these selected markets."
Lima will purchase the Unicompartmental High Flex Knee from Zimmer Holdings Inc. and the Biomet Discovery Elbow System within the European Economic Area (EEA) and Switzerland, as well as the Biomet Vanguard Complete Knee System for Denmark and Sweden.
The agreement will become effective after the merger between Zimmer and Biomet has been closed. The termination date for Zimmer Holdings Inc.’s pending $13.4 billion merger with Biomet Inc. has been extended to July 23. The original date the agreement would expire was April 24.
The agreement also transfers to Lima the non-exclusive rights for the manufacturing, marketing and sale of an exact copy of the Vanguard knee in Europe.
"With the launch of Physica, the acquisition of ZUK puts Lima on the map as a serious player in the knee market," said Luigi Ferrari, CEO of Lima Corporate. "To be focused on our historical markets, we decided that the EEA and Switzerland markets would best fit our strategy.”
Lima specializes in the production of titanium and recently released its own total knee system, called Physica.
"This acquisition strategically creates value for Lima," Lima chairman Gabriele Lualdi said in a statement. "The combination of these top-class products to our portfolio and the access to a new healthcare professional customer base will build on the current success Lima already has in these selected markets."