Zimmer picks up soft-tissue company Cayenne Medical

Zimmer Biomet (NYSE:ZBH) said today it inked a deal to buy Scottsdale, Ariz.-based soft-tissue reconstruction solutions company Cayenne Medical. Warsaw, Ind.-based Zimmer Biomet did not release any financial details of the transaction, but said that it expects the acquisition to close during the 2nd quarter of 2016. “As a market leader in musculoskeletal healthcare, the expansion of our sports medicine business with Cayenne Medical’s highly successful portfolio represents an exciting growth opportunity and will meaningfully advance our commitment to serving the needs of patients across the full continuum of care. With rising demand for the clinical benefits of advanced soft tissue repair and reconstruction solutions, we greatly look forward to leveraging Zimmer Biomet’s scale and specialized sales capabilities to broaden and accelerate the growth of Cayenne Medical’s clinically acclaimed offerings,” Zimmer Biomet sports medicine, extremeties, trauma, biologics and surgical biz group prez David Nolan said in a press release. Zimmer Biomet said the acquisition will strengthen its sports medicine capabilities and portfolio and add advances soft tissue reconstruction soutions for the knee, shoulder and extremities. “Cayenne Medical is extremely pleased to join forces with Zimmer Biomet to drive the future growth and ongoing development of our innovative sports medicine technologies. From the beginning, Cayenne Medical has endeavored to be a l...
Source: Mass Device - Category: Medical Equipment Authors: Tags: Business/Financial News Mergers & Acquisitions Orthopedics Zimmer Biomet Source Type: news