Biomet's private equity owners announce plans to take the orthopedics giant back on the public market.
Biomet is planning to put itself back on the public market after a 7-year run under private equity ownership, the orthopedics giant said today.
A group of private PE players including the Blackstone Group, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts and TPG acquired Biomet for $11.4 billion in 2007, placing medtech veteran Jeffrey Binder at the helm.
Biomet agrees to settle more than 1,000 product liability lawsuits filed over its M2A Magnum metal-on-metal hip implant.
Biomet said it agreed to settle more than 1,000 lawsuits filed over its M2A Magnum hip implants and will likely exhaust the $50 million it set aside to cover the legal tab.
Biomet reports a 2nd-quarter swing to profitability on stronger sales growth for its bread-and-butter knee and hip replacement products.
Biomet posted fiscal 2nd-quarter profits today, reporting sales growth for its core hip and knee replacement products and gains across the board for its other medical device lines.
The news augurs well for other orthopedic device makers, as Biomet's early quarterly reports are seen on Wall Street as bellwethers for the rest of the industry.
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Orthopedics giant Biomet will provide European distribution for Titan Spine's Endoskeleton interbody fusion devices.
Biomet signed a European distribution deal for Titan Spine's Endoskeleton interbody fusion devices, beginning in Germany and spreading through the E.U., the companies announced.
Biomet says it's closed the buyout of Lanx Inc. ahead of its Nov. 29 deadline.
Biomet said today that it closed the acquisition of spinal device maker Lanx Inc.
When the deal was announced early last month, Biomet said it would expand its spine offering with Lanx's Timberline and Aspen spinal fusion systems. The deal was originally expected to close by Nov. 29.
Medical devices are not the cause of varying prices across the healthcare spectrum, according to a study released by the Advance Medical Technology Assn. today, but instead have helped keep healthcare costs down.
Medical devices are not the cause of price variations in hospital care across the U.S., but rather are a part of the solution, according to medical device industry lobbying group AdvaMed.
"It is really clear in the evidence provided by these and other studies that medical devices are not the problem when it comes to rising healthcare costs. In fact, they’re a big part of the solution," Biomet CEO & AdvaMed board member Jeff Binder said during a conference call today.