Zimmer Biomet to drop $1B on spine-focused LDR Holding

zimmer-biomet-ldr-1x1Zimmer Biomet (NYSE:ZBH) said today it is buying spinal medical device company LDR Holding for approximately $1 billion.

Boards from both companies approved the acquisition agreement, the company said, with Zimmer Biomet slated to acquire all outstanding shares of LDR at $37 per share in cash. The company expects the deal to close in the 3rd quarter of 2016.

LDR Holding develops and sells spinal-procedure focused products, and the acquisition will “bolster Zimmer Biomet’s presence in the global spine market,” the Warsaw, Ind.-based company said

LDR’s primary products are the Mobi-C cervical disc replacement and Mivo portfolio of products supporting lumbar and cervical fusion procedures. LDR received FDA premarket approval for its Mobi-C cervical disc replacement device in 2013, indicated for treating 1 and 2-level cervical disc disease.

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About Peter Coffaro 1439 Articles
A growth-driven and strategic executive, Peter Coffaro commands more than 20 years of progressive management success within the medical device industry. As a District Sales Manager for Stryker Orthopaedics, Peter was responsible for managing and directing a regional sales force to achieve sales and profit goals within the Rocky Mountain region. Previously, he was the Director of Sales & Marketing for Amp Orthopedics. In this role, Peter was responsible for planning, developing, and leading all sales and marketing initiatives. Peter is a former orthopedic distributor in the Pacific Northwest. He has also worked with DePuy Orthopaedics as well as Zimmer, and held positions in sales, sales training, and sales management. Peter has an extensive background in organizational development, business development, sales management, negotiating and P&L management. Peter holds a B.S. degree in Biology from Northern Illinois University.

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