Zimmer Biomet Holdings (NYSE and SIX: ZBH), a Warsaw, IN-based medical technology company, acquired Embody, a Norfolk, VA-based privately-held medical device company focused on soft tissue healing.
The cost of the transaction – subject to customary closing conditions and expected to be completed in February 2023 – was $155 million at closing and up to an additional $120 million subject to achieving future regulatory and commercial milestones over a three year period. The acquisition is expected to be accretive to overall revenue growth and slightly dilutive to adjusted earnings per share in 2023.
Led by CEO Jeff Conroy, Embody provides a platform with novel collagen-based bio-fabrication techniques and products for the sports medicine market. Its products focus on the repair of serious tendon and ligament injuries and are developed in close collaboration with clinical thought leaders.
The acquisition includes Embody’s complete portfolio of collagen-based biointegrative solutions to support healing in the most challenging orthopedic soft tissue injuries – including the TAPESTRY® biointegrative implant for tendon healing and TAPESTRY® RC, an arthroscopic implant system for rotator cuff repair.
Led by Bryan Hanson, Chairman, President and CEO. Zimmer Biomet is a medical technology company with a comprehensive portfolio designed to maximize mobility and improve health. The company transforms the patient experience through products and suite of integrated digital and robotic technologies that leverage data, data analytics and artificial intelligence.
FinSMEs
05/01/2023