Warsaw, Ind.-based Zimmer Biomet did not release any financial details of the transaction, but said that it expects the acquisition to close during the 2nd quarter of 2016.
“As a market leader in musculoskeletal healthcare, the expansion of our sports medicine business with Cayenne Medical’s highly successful portfolio represents an exciting growth opportunity and will meaningfully advance our commitment to serving the needs of patients across the full continuum of care. With rising demand for the clinical benefits of advanced soft tissue repair and reconstruction solutions, we greatly look forward to leveraging Zimmer Biomet’s scale and specialized sales capabilities to broaden and accelerate the growth of Cayenne Medical’s clinically acclaimed offerings,” Zimmer Biomet sports medicine, extremeties, trauma, biologics and surgical biz group prez David Nolan said in a press release.
Zimmer Biomet said the acquisition will strengthen its sports medicine capabilities and portfolio and add advances soft tissue reconstruction soutions for the knee, shoulder and extremities.
“Cayenne Medical is extremely pleased to join forces with Zimmer Biomet to drive the future growth and ongoing development of our innovative sports medicine technologies. From the beginning, Cayenne Medical has endeavored to be a leader in the soft tissue repair and reconstruction segment of sports medicine, and this combination with Zimmer Biomet will advance our mission to solve unmet needs in this clinical area, while transforming traditional techniques with minimally invasive innovations and generating compelling cost savings in the delivery of care by surgeons, surgery centers and hospitals,” Cayenne Medical CEO David Springer said in a prepared statement.
In March, Zimmer Biomet capped off the American Orthopedic Surgery Society’s annual meeting by inking a deal to distribute CelgenTek Innovations Corp.’s bone trauma technology and the launch of new Persona and OsseoTi knee components.
The orthopedics juggernaut said the deal with CelgenTek includes that company’s N-Force fixation system and iN3 cement for fracture fixation and filling bone voids. The N-Force can be used with Zimmer Biomet’s N-Force Blue bone substitute matrix in the U.S. and the iN3 cement in Europe, the company said.