Biomet Acquires Merck's 50% Interest In Joint Venture

Biomet Inc. recently announced the successful completion of the agreement with Merck KGaA, Darmstadt, Germany, to acquire Merck's 50 percent interest in the Biomet-Merck joint venture.

Biomet is acquiring Merck's interest for an aggregate purchase price of $300 million in cash. The transaction now has been completed, subject to the receipt of the clearance from the competition authorities in certain European jurisdictions.

Biomet and its subsidiaries design, manufacture and market products used primarily by musculoskeletal medical specialists in both surgical and non-surgical therapy, including reconstructive and fixation devices, electrical bone growth stimulators, orthopedic support devices, operating room supplies, general surgical instruments and other implants and instrumentation.

Headquartered in Warsaw, Biomet and its subsidiaries currently distribute products in more than 100 countries.