The transaction between Warsaw, Ind-based Zimmer Biomet and Scottsdale, Ariz-headquartered Cayenne Medical is expected to close during the second quarter of 2016, according to a media release from Zimmer Biomet.
“The expansion of our Sports Medicine business with Cayenne Medical’s highly successful portfolio represents an exciting growth opportunity and will meaningfully advance our commitment to serving the needs of patients across the full continuum of care,” says David Nolan, group president of Zimmer Biomet’s Sports Medicine, Extremities, Trauma, Biologics and Surgical businesses, in the release.
“Cayenne Medical is extremely pleased to join forces with Zimmer Biomet to drive the future growth and ongoing development of our innovative sports medicine technologies,” states David B. Springer, president and chief executive officer of Cayenne Medical, according to the release.
Zimmer Biomet designs, manufactures, and markets various musculoskeletal products. Cayenne Medical designs, develops, and markets soft-tissue reconstruction solutions for the knee, shoulders, and extremities.
[Source(s): Zimmer Biomet Holdings Inc, PR Newswire]