Say hello to MassDevice +3, a bite-sized view of the top three medtech stories of the day. This feature of MassDevice.com’s coverage highlights our 3 biggest and most influential stories from the day’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.
Zimmer closed its $14.0 billion acquisition of Biomet, 15 months after announcing its plan to merge with its cross-town orthopedics rival.
The Warsaw, Ind.-based company said yesterday that the U.S. Federal Trade Commission approved the deal after Zimmer found buyers for some of the U.S. assets it and Biomet owned: Smith & Nephew agreed to buy its High Flex unicompartmental knee implant and DJO Global subsidiary Encore Medical agreed to acquire Biomet’s Cobalt bone cement, Optivac cement mixing accessories and Discovery elbow system. Read more
Medtronic said it named Geoff Martha to be the new president of its restorative therapies division, replacing Christopher O’Connell, who left to take the CEO spot at Waters Corp.
Martha is slated to be replaced in the chief integration officer role by Bill Burke, who joined Medtronic as part of its $50 billion acquisition of Covidien early this year. Read more
Smith & Nephew said that it agreed to acquire the U.S. unicompartmental High Flex knee assets from Zimmer, which is looking to mollify U.S. anti-trust regulators ahead of its $13.34 billion merger with Biomet.
Warsaw, Ind.-based Zimmer last month said it had found buyers for the High Flex knee and Biomet’s Discovery elbow device and Biomet’s Cobalt bone cement assets in the U.S., anticipating the deal to close by the middle of this month. Read more