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Biomet Inc. announced Monday it agreed to purchase Biolectron Inc., Allendale, N.J., for $90 million cash.
Biolectron, a privately held company, makes medical care products used in spinal fusion, fracture healing and arthroscopy. The company currently employs approximately 100 people.
Biomet is a manufacturer of medical care products.
In 1999, Biolectron had sales of $26 million and is reportedly on the track to record sales of $45 million this year.
After completion of the purchase, Biolectron will become a part of Electro Biology Inc., a Biomet subsidiary in Parsippany, N.J.
