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Bristol-Myers Squibb announced Thursday it intends to separate its orthopedics subsidiary, Zimmer Inc., into an independent, publicly traded entity through a tax-free distribution to Bristol-Myers Squibb shareholders.
Zimmer, with headquarters in Warsaw, is a manufacturer of orthopedic reconstructive implants, trauma products and orthopedic surgical products. The company employs 1,400 people in Warsaw.
Zimmer was placed on the auction block in September.
BMS decided to concentrate on its line of pharmaceuticals, said Ray Elliott, Zimmer president, last fall.
No information was given on who may have bidded on Zimmer or for what price.
Zimmer officials could not be reached this morning.
