EU Regulators Investigating Zimmer's Plan To Buy Biomet
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Staff Report-
European Union anti-trust regulators opened an in-depth investigation Friday into the plan by medical device maker Zimmer to purchase Biomet for $13.4 billion. The investigation increases pressure on Zimmer to offer concessions to relieve regulators’ concerns, Reuters reports. The deal would make Zimmer second only to DePuy-owner Johnson and Johnson among orthopaedic product makers worldwide, and reinforce its presence in the sports medicine sector, according to the news agency. The European Commission said the deal may lead to more expensive orthopaedic products, less innovation and choice for consumers. “The proposed acquisition may substantially lessen competition in the markets for hip, knee, elbow and shoulder implants, as well as for other products, such as bone cement, bone cement accessories and a surgical tool called pulse lavage,” Reuters quotes the commission as saying. Regulators said they would decide whether or not to allow the purchase by Feb. 16.
