Biomet has announced it has offered $280 million to acquire the trauma business of DePuy Orthopaedics, according to a news release (pdf).
It is believed that Johnson & Johnson, which owns DePuy Orthopaedics, will sell the trauma business to help satisfy regulatory concerns relating to its $21.3 billion agreement to acquire Synthes announced last year, according to numerous news reports. Regulators have expressed concern that the acquisition of Synthes would give DePuy close to a monopoly on the trauma business.
Biomet's offer expires June 1, but can be extended.
"This transaction will provide Biomet with a much stronger presence in the global trauma market and greatly expands our sports, extremities and trauma business, which is a meaningful growth driver for Biomet," said Jeffrey R. Binder, president and CEO of Biomet, in the release. "The DePuy trauma team has done a great job of building a successful business. We look forward to welcoming them as Biomet team members and working alongside them to fulfill our commitment to providing customers with outstanding products and service, as well as continued innovation."
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