Apr. 24, 2014, 9:28 AM
Apr. 24, 2014, 7:43 AM
- Zimmer (ZMH) says the transaction will "position the combined company as a leader in the $45B musculoskeletal industry," adding that "the complementary nature of the two businesses adds diversity and scale across various geographies and product categories."
- Zimmer expects the purchase to be "double-digit accretive" to its EPS in the first year after closing, and to boot its cash flow from operations by 1.5 times. The company also forecasts annual synergies of $135M in the first year and $270M by the third year.
- The combined 2013 revenues of the companies were $7.8B and adjusted EBITDA was $2.8B.
- Zimmer will pay $10.35B in cash and the rest in shares. The company will help fund the deal with a $3B senior unsecured term loan and newly issued senior notes.
- Zimmer shares continue to climb and are +11.5%. (PR)
- Zimmer Q1 earnings
Apr. 24, 2014, 7:21 AM
Apr. 24, 2014, 7:20 AM
Apr. 15, 2014, 6:25 PM
- Surgical device maker ConMed (CNMD) is exploring a sale of the company, Reuters reported earlier today, after activist investors late last year took issue with its performance and corporate governance.
- The company's advisers, BoA Merrill Lynch and Greenhill, reportedly have contacted orthopedic device makers in recent weeks to gauge interest.
- CNMD has an attractive orthopedics and sports medicine business that could appeal to companies such as Zimmer Holdings (ZMH), Johnson & Johnson (JNJ), Stryker (SYK), Covidien (COV) and Medtronic (MDT).
- CNMD shares gained 7.2%, rallying from a loss before the report late in the session.
Mar. 5, 2014, 5:15 PM
Feb. 26, 2014, 9:43 AM
- Anika Therapeutics (ANIK) surges 41% to $48.67 following the FDA's approval of the company's Monovisc single injection for pain caused by osteoarthritis of the knee.
- The authorization must feel pretty sweet for Anika - it first applied for approval over four years ago.
- Summer Street has hiked its price target to $60 a share from a prior PT of $47.
- "We believe this product will be competitive in a market that is becoming more focused on single-shot injections," Summer Street says.
- There are 27M people in the U.S. who suffer from osteoarthritis, which occurs when cartilage breaks down in joints, causing pain and stiffness as bones rub together.
- Sanofi (SNY +0.1%) and Zimmer (ZMH +0.4%) sell rival products.
Jan. 30, 2014, 7:32 AM| Comment!
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Sep. 9, 2013, 8:19 AM
Aug. 23, 2013, 11:55 AMZimmer Holdings gets FDA 510K clearance for its Patient-Specific Instruments Shoulder system in the US
- Zimmer Holdings (ZMH -0.1%) says it's received FDA 510(k) clearance to market its Patient Specific Instruments Shoulder system to complement its Trabecular Metal Reverse Shoulder system for reverse shoulder arthroplasty procedures.
- The system uses 3-D visualization software to assist surgeons in creating a customized surgical plan for each patient, and then provides patient-specific surgical instrument guides to facilitate placement of the implant corresponding to the personalized surgical plan.
- It has been available to a limited number of surgeons in Europe since May, and now with the clearance, it will be available to shoulder surgeons across the U.S.
Jul. 25, 2013, 7:18 AM
Jul. 10, 2013, 2:19 PMZimmer Holdings (ZMH +1%) gains today after saying that it's begun distributing its APEX Spine System, a set of implants and instruments designed to correct a broad range of spinal deformities as well as complex and degenerative spinal diseases. Under the terms of a long-term agreement with SpineCraft, Zimmer Spine will exclusively market the APEX Spine System to healthcare organizations across the U.S., Canada, Australia and New Zealand. | Comment!
Jun. 14, 2013, 7:48 AM
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ZMH vs. ETF Alternatives
Zimmer Holdings Inc designs, develops, manufactures and markets orthopaedic reconstructive, spinal and trauma devices, biologics, dental implants and related surgical products. It also provides other healthcare related services.
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