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Biomet Inc. announces plans to acquire Lanx by year end

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Biomet Inc. announced it has reached a definitive agreement to acquire Lanx Inc., a spine company based in Broomfield, Colo. and a leader in minimally invasive techniques and technologies.

Lanx offers such products such as the Timberline Lateral Approach Fusion System and Aspen Minimally Invasive Fusion System, which complement Biomet Spine’s current product offerings, according to a Biomet press release.

The board of directors for both Biomet and Lanx approved the transaction. The acquisition is expected to close on or before November 29, 2013, as noted in the release.

“This is an exciting opportunity for Biomet to improve its competitiveness in the spine market by leveraging the best aspects of each company and adding strategically important technologies to our product portfolio,” Jeff Binder, Biomet President and CEO, stated in the release.

Dan Gladney, CEO of Lanx Inc., stated, “Biomet Spine is the ideal home for the talent and technologies that Lanx has worked so hard to develop. The combination of these companies and their products will be a powerful force in the spine market of the future.”