Zimmer Biomet seals $250M acquisition of medical device company

Alan Condon -  

Zimmer Biomet has completed the acquisition of A&E Medical Corp., a cardiothoracic surgery company that manufactures sternal closure devices.

The transaction includes $150 million in cash at closing and $100 million in cash payable in 2021.

"This deal aligns with our active portfolio management strategy and the ongoing transformation of our business that will position Zimmer Biomet for long-term growth," Bryan Hanson, the company's president and CEO, said in a Dec. 1 news release.

A&E Medical's portfolio of sternal closure devices, including sutures, cables and fixation systems, are now part of the Zimmer Biomet umbrella.

Revenue from the portfolio is expected to be recognized in Zimmer Biomet's dental, spine and craniomaxillofacial and thoracic business unit. 

The transaction is not expected to have a significant effect on 2020 net earnings.

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