DJO Global acquired assets from Zimmer and Biomet on the heels of the two companies finalizing a landmark merger.
Zimmer and Biomet received FTC approval for their $14 billion merger yesterday. Today, DJO Global's subsidiary Encore Medical will purchase assets from Zimmer. Here are five things to know:
1. Encore Medical is purchasing the Biomet Cobalt Bone Cement, Optivac Cement Mixing Accessories and Discovery Elbow System for the United States marketplace.
2. The Discovery Elbow is DJO's first elbow technology and will build on the company's upper extremity portfolio, which includes shoulder devices. The Discovery Elbow has more than 12 years of clinical use.
3. The Cobalt Bone Cement is designed for hip, knee, shoulder, elbow and other orthopedic technologies. The cement has antibiotic solutions for patient safety.
4. The transaction is expected to close within the next 10 days. Zimmer Biomet also sold Zimmer's unicondylar knee to Smith & Nephew yesterday in a transaction expected to close within the next three days.
5. In addition to this technology acquisition, DJO plans to make three major launches across the knee, hip and shoulder segments in each of the next three years.
"These product acquisitions are part of a broader strategy to invest in our fast-growing implant business," said DJO Global CEO Mike Mogul. "We believe our surgical division is poised to continue its position as the fastest-growing orthopedic implant company."