Zimmer to buy Orthosoft for $50
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.