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Surgical IT

Zimmer to buy Orthosoft for $50 million

MONTREAL – Indiana-based Zimmer Holdings, Inc. is planning to buy its orthopedic-industry counterpart Orthosoft Inc. for $50 million.

The $50-million purchase price excludes the 12.4 percent of shares Zimmer already owns. Orthosoft, founded in 1995, makes medical software, instruments and computerized systems that help orthopedic surgeons increase accuracy in hip, knee and spine implant surgery.

“This transaction allows us to deliver significant value for our shareholders while assuring that we will have an opportunity, through the global power of the Zimmer distribution network, to present our technology and expertise to many new customers and markets,” Orthosoft founder, chairman and CEO Louis-Philippe Amiot said in a release.

Zimmer said it intends to keep Orthosoft’s current operations in Montreal. Orthosoft currently has 81 employees, most of whom are in sales and product development.

Zimmer, which has 7,000 employees working in 24 countries around the world, makes spinal implants, trauma and related orthopedic surgical products. It trades on the New York Stock Exchange.

The deal, pending all regulatory and other approvals, is expected to close in the fourth quarter.

 

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