Zimmer Biomet to acquire medical device company OSSIS
Summary
Zimmer Biomet has entered a definitive agreement for the acquisition of privately-held medical device company OSSIS for an undisclosed sum. OSSIS managing director Kelvin Hyland said: “Zimmer Biomet shares our ethos of innovative technology with a strong patient focus and OSSIS is thrilled to join Zimmer Biomet’s established portfolio with cutting-edge solutions and expert capabilities.” In July 2021, Zimmer was selected as OSSIS’ partner to exclusively distribute the latter’s patient-specific 3D-printed titanium hip joint replacements and other pelvic bone replacement surgery products in the Asia Pacific region. The acquisition is expected to enable Zimmer Biomet to expand its hip reconstruction product portfolio. Zimmer Biomet Asia Pacific Group president Sang Yi said: “Combining OSSIS’s more than 16 years of clinical experience and engineering expertise with Zimmer Biomet’s extensive network across Asia Pacific, Europe, Middle East and Africa demonstrates our commitment to bring transformative med tech advancements to patients in need. “We are very pleased to partner with these patients and their physicians as we work toward our mission to alleviate pain and improve the quality of life for people around the world.” In January this year, Zimmer Biomet agreed to acquire US-based medical device company Embody for $155m.
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