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news.Zimmer Holdings, a provider of orthopedic surgical products, has acquired Abbott Spine, a developer of spinal implant technology. Zimmer has paid $360 million in cash in the transaction.
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David Dvorak, president and CEO of Zimmer, said: “It is a pleasure to welcome Abbott Spine employees and customers to the Zimmer family and we look forward to building toward critical mass with our expanded Zimmer Spine business.
“We have appreciated the engagement of the Abbott Spine management team as we have been able to move ahead briskly with our integration planning. We are excited to now work together to execute those plans and begin to take advantage of the great potential and strategic opportunity represented by this combination.”