A pending deal between two of the Big Three orthopedic companies in Warsaw is estimated at $280 million in cash.
Johnson and Johnson, the parent company of DePuy, released a statement this morning that Biomet has offered to buy DePuy’s trauma products business.
The release stated the offer will include both internal and external fixation products used in treating bone fractures and organizational support.
The statement said the sale should close in the second quarter, pending regulatory approval.
J & J cited its pending deal to purchase Synthes Inc. as a determining factor in the deal with Biomet.
“We believe this divestiture will satisfy all regulatory concerns relating to the pending purchase of Synthes by Johnson & Johnson, but we will not know with certainty until the regulatory processes in the EU and U.S. are completed,” said J&J’s statement. “We continue to make progress in our work with antitrust authorities on the Synthes transaction.”
On April 27, Johnson and Johnson and Synthes, a Swiss medical device maker, reached a $21.3 billion deal.
“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, Inc. “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.”
