Orthopedic device firm Zimmer of Warsaw, IN, has reached an agreement to buy computer-assisted orthopedic surgery technology firm Orthosoft of Montreal.
Zimmer said it agreed to buy all of Orthosoft's outstanding shares at a price of $1.10 Canadian per share ($1.04 U.S.), for a total purchase price of $50 million Canadian ($47.4 million U.S.). Zimmer already owns 12.4% of Orthosoft.
Zimmer executives said the deal will boost the company's SmartTools initiative, and will allow the firm to vertically integrate its Computer-Assisted Solutions (CAS) efforts. Zimmer will maintain Orthosoft's current operations in Montreal, and will integrate the business with its current operations. Orthosoft has 81 employees.
By AuntMinnie.com staff writers
August 24, 2007
Related Reading
Orthosoft expands distribution, July 13, 2006
Orthosoft releases AchieveCAS Knee 2.0, May 31, 2005
Orthosoft, Zimmer team up, May 30, 2005
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