No matter how many times Smith & Nephew (NYSE:SNN) says it’s not talking merger, somebody else says it is.
Zimmer Biomet
Report: Smith & Nephew rejects $11 billion Johnson & Johnson bid
Zimmer notches another acquisition for the week
Zimmer Holdings Inc. (NYSE:ZMH) is closing out 2010 in style, acquiring a pair of companies in the last week.
The Warsaw Ind.-based orthopedic device maker picked up surgical power tool manufacturer Sodem Diffusion S.A.
Zimmer plans to rename Sodem as Zimmer Surgical S.A. and consolidate it under the auspices of Dover, Ohio-based Zimmer Surgical. Specific terms of the deal were not disclosed.
Zimmer closes buyout of Chinese device maker
Zimmer Holdings Inc. (NYSE:ZMH) took over Chinese joint prosthesis maker Beijing Montagne Medical Device Co. Ltd.
Montagne’s product lines will add a hip, knee and powered surgical instruments that are "tailored to the Chinese market" to Zimmer’s medical device offerings, according to the Warsaw Ind.-based orthopedic device-maker.
Stryker sues Zimmer over wound debridement patents
Device makers under scrutiny in international bribery beef
Federal investigators are looking into payments to foreign physicians by at least three major medical device makers and several pharmaceutical firms, examining whether the practice runs afoul of the Foreign Corrupt Practices Act.
G-men want the skinny on consulting arrangements by companies including Medtronic Inc. (NYSE:MDT), Zimmer Holdings (NYSE:ZMH) and Johnson & Johnson (NYSE:JNJ) with doctors overseas, according to regulatory filings.
Q2 profits slide 21 percent for Zimmer
Zimmer Holdings Inc. (NYSE:ZMH) posted a 21 percent profit decline during the second quarter as it set aside $75 million to cover mounting legal claims over its Durom acetabular hip implant.
The Warsaw, Ind.-based orthopedic device giant reported net earnings of $166 million, or 82 cents per diluted share, on sales of $1.06 billion during the three months ended June 30. That’s a 21.2 percent earnings drop, despite the 3.7 percent top-line uptick. Zimmer posted earnings of $210 million, or 98 cents per diluted share, on sales of $1.02 billion during Q2 2009.
Zimmer’s Q4 sales rise but net earnings fall
Zimmer Holdings Inc. (NYSE:ZMH) posted fourth-quarter sales of $1.11 billion for the three months ended Dec. 31, 2009, up 7 percent compared with $1.03 billion during the same period in 2008. But net earnings fell 7 percent to $155.2 million, compared with $167.6 million during Q4 2009:
Press Release
Zimmer Reports Fourth Quarter and 2009 Financial Results
WARSAW, Ind., Jan. 28 /PRNewswire-FirstCall/ —
Zimmer brings in new global business president
Zimmer Holdings Inc. (NYSE:ZMH) brought in a new president to lead its global business unit. Former Stryker Corp. (NYSE:SYK) executive Jeffrey Paulsen will lead the Warsaw, Ind.-based orthopedics giant’s international operations.
Zimmer said Paulsen will be in charge of its spine, dental, trauma and orthopedic surgical products units, reporting to president and CEO David Dvorak.
Analyst: Hip and knee replacement markets “stable to improving”
An analyst at Leerink-Swann investment bank is bullish on the hip and knee markets, writing that they’re in a “stable-to-improving mode” despite pricing pressures and a sluggish European economy.
In an email to investors, Leerink analyst Rick Wise said second-quarter earnings results at Warsaw, Ind.-based orthopedic device maker Biomet Inc. could be a harbinger for a steadily improving orthopedics market.