- Zimmer Biomet Holdings ( NYSE: ZBH ) announced an agreement on Thursday to buy Embody, Inc., a privately held medical device company focused on soft tissue healing.
- Per the terms, Zimmer ( ZBH ) will acquire Embody for $155M at the closing and up to $120M in additional payments, subject to reaching regulatory and commercial milestones over three years.
- The acquisition is expected to be accretive to ZBH's overall revenue growth and slightly dilutive to adjusted earnings per share in 2023.
- The transaction is anticipated to complete next month, allowing Zimmer ( ZBH ) to add Embody's portfolio of collagen-based healing products targeted at orthopedic soft tissue injuries.
- "The planned acquisition of Embody is an important step in the ongoing transformation of ZB and the execution of our strategic priority to increase long-term growth and drive value creation," Chief Executive of Zimmer ( ZBH ) Bryan Hanson remarked.
- In a deep-dive on the company's Q3 2022 results, Seeking Alpha contributor Zach Bristow argued that Zimmer ( ZBH ) made a "strong recovery in orthopedic end-markets. "
For further details see:
Zimmer Biomet to acquire soft tissue healing company Embody