Zimmer Biomet (NYSE:ZBH) said today that it paid an unspecified amount to acquire CD Diagnostics and its line of immunoassay and biomarker products.
Four years ago, the duo inked a pact that led to the development and marketing of the Synovasure periprosthetic joint infection test, Warsaw, Ind.-based Zimmer Biomet said.
“I formed CD Diagnostics to solve the frustrating problem of diagnosing PJI and the complications associated with misdiagnosis, including the pain and incremental costs-of-care following joint replacement surgery. As a leader and visionary in musculoskeletal healthcare, Zimmer Biomet is the ideal partner to leverage our expertise in biomarker detection and immunoassay development, and to elevate the value of diagnostics in the treatment of musculoskeletal conditions,” CD Diagnostics scientific founder Dr. Carl Deirmengian said in prepared remarks.
“Our acquisition of CD Diagnostics cements our leadership and competitive advantage in musculoskeletal diagnostics, strengthens our Signature SolutionsTM offering, and advances our mission to provide comprehensive musculoskeletal healthcare,” added Zimmer Biomet joint reconstruction president Dan Williamson. “As value-based healthcare replaces fee-for-service models, there will be a growing need for diagnostics that can either prevent or minimize costly complications, or personalize the course of treatment to speed up recovery time and optimize the patient experience and, ultimately, the patient’s outcome.”
