Zimmer Biomet enters into definitive agreement to acquire Cayenne Medical

Zimmer Biomet Holdings Inc. announced in a press release that it has entered into a definitive agreement to acquire Cayenne Medical Inc.

According to the release, the transaction is expected to close in the second quarter of 2016 and is subject to customary closing conditions. At the time of the press release, financial terms of the deal were not disclosed. With the acquisition of Cayenne Medical, Zimmer Biomet reportedly will be able to strengthen its sports medicine capabilities and its portfolio of soft tissue reconstruction solutions for knee, shoulder and extremities procedures.

“As a market leader in musculoskeletal health care, 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,” David Nolan, group president of Zimmer Biomet’s sports medicine, extremities, trauma, biologics and surgical businesses, said in the release. “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.”

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