DePuy Announces Acquisition
July 28, 2016 at 4:25 p.m.
DePuy has announced what is considered its biggest acquisition ever and one that is valued at $325 million.
The Warsaw-based orthopedic company plans to purchase the equity of AcroMed Corp., a spinal implant company headquartered in Cleveland.
"The combination of two leaders in the spinal implant market - the fastest growing segment of orthopedics - will create a company of exceptional strength and establish the second largest spinal implant company in the world," said DePuy's Chief Executive Officer, James Lent.
AcroMed had net sales of more than $90 million in fiscal year 1997 and could boost Depuy's net sales in 1998 by $50 million, Lent said.
The transaction will be financed through a combination of cash and bank borrowings, he said.
The acquisition represents the company's largest ever and their sixth major move in the past eight years. Other acquisitions include Thackray Ltd. (joint reconstructive implants) in 1990; ACE medical company (trauma products) and CMW Laboratories (bone cement) in 1994; Orthopedic Technologies (sports medicine products) in 1996; and Landanger-Camus (reconstructive implants) in 1997.
DePuy entered the spinal implant market in 1993 through a joint venture with Biedermann Motech, a German company. [[In-content Ad]]
DePuy has announced what is considered its biggest acquisition ever and one that is valued at $325 million.
The Warsaw-based orthopedic company plans to purchase the equity of AcroMed Corp., a spinal implant company headquartered in Cleveland.
"The combination of two leaders in the spinal implant market - the fastest growing segment of orthopedics - will create a company of exceptional strength and establish the second largest spinal implant company in the world," said DePuy's Chief Executive Officer, James Lent.
AcroMed had net sales of more than $90 million in fiscal year 1997 and could boost Depuy's net sales in 1998 by $50 million, Lent said.
The transaction will be financed through a combination of cash and bank borrowings, he said.
The acquisition represents the company's largest ever and their sixth major move in the past eight years. Other acquisitions include Thackray Ltd. (joint reconstructive implants) in 1990; ACE medical company (trauma products) and CMW Laboratories (bone cement) in 1994; Orthopedic Technologies (sports medicine products) in 1996; and Landanger-Camus (reconstructive implants) in 1997.
DePuy entered the spinal implant market in 1993 through a joint venture with Biedermann Motech, a German company. [[In-content Ad]]