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Zimmer Acquires BioMet/3i for $13.35 billion USD

In a deal worth $13.35, which has been approved by both companies’ boards, positions Zimmer, based in Warsaw since 1927, to become the second largest company by revenue in the $45 billion global market for artificial knees, hips and other orthopedic and bone-mending implants. The acquisition price, which includes the assumption of debt, consists of $10.35 billion in cash and $3 billion in Zimmer shares.

The Zimmer-Biomet merger is the largest in the medical-devices industry since Johnson & Johnson purchased Synthes Inc. for $21.3 billion in 2012, and highlights the desire of device companies to cut costs and become more efficient in the face of pricing pressure from hospitals, combined with lower surgical-procedure volumes because of consumer uncertainty about the economy, analysts said.

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