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...The advisory board on the beta stage are law firm Orrick, Google, medical device company Zimmer Biomet, insurance group Marsh McLennan and media business Hearst....
...Zimmer Biomet, which makes artificial joints and dental devices, saw its shares tumble to their lowest point since April after it lowered its 2016 outlook due to supply chain problems that dragged on its...
...Zimmer and Biomet will cut costs by merging, he admits, but adds: “Will they grow their top line? I bet it doesn’t work.”...
...This is, in large part, why Zimmer’s decision to buy privately owned rival Biomet, announced on Tuesday, makes such good sense....
...Zimmer shareholders will own 84 per cent of the combined company, with Biomet shareholders owning 16 per cent....
...Recent deals among medical device makers include Zimmer/Biomet and Medtronic/Covidien (the latter is also a so-called tax inversion). And so tax-driven healthcare deals have not emerged from a vacuum....
...The Medtronic deal is the second big takeover in the sector this year after the $13bn acquisition of Biomet by Zimmer in April to create the world’s biggest maker of hip and knee implants....
...Continued deal activity lifted shares of several device makers following Zimmer Holdings’ purchase of rival Biomet for $13.4bn....
...Mr Bohuon’s comments come a week after Indiana-based Zimmer, maker of the eponymous walking frame, agreed to buy orthopaedic products group Biomet for $13bn....
...Another US rival Zimmer, the maker of joint replacement technology, acquired Biomet in a blockbuster deal worth $13.4bn....
...The deals that contributed to Blackstone’s earnings included the sale of Biomet and the initial listing of Michael’s Stores....
...As well as Pfizer’s abortive $116bn attempt to take over UK rival AstraZeneca, there have been deals between Zimmer and Biomet, and Novartis and GSK....
...On Thursday, a group including KKR, along with Blackstone, the private equity arm of Goldman and TPG announced they had sold Biomet, a deal done in the peak years to Zimmer for $13bn....
...KFN has invested in KKR deals including Energy Future Holdings, the Texas utility struggling under a debt mountain, Biomet, Del Monte, First Data, HCA, and Toys ‘R Us....
...US drugmaker Mylan launched a fresh $9bn bid for Sweden’s Meda and Zimmer agreed to acquire rival medical products maker Biomet for $13.4bn....
...In 2007, the Biomet bidders had to lift their price from $10.9bn to $11.4bn including debt to gain consent from Biomet’s shareholders to take over the company....
...Biomet, a US medical device company, has been fined $23m by US regulators for false record keeping and bribery in China and Latin America....
...The network was one of several unearthed during a probe by the US in 2007 into corruption by medical device groups in Greece, with probes continuing against rivals including Biomet, Stryker, Zimmer and Medtronic...
...Biomet said sales growth for artificial hips and knees had accelerated over the past three months....
...The US dental equipment maker has outbid other potential buyers, including private equity group EQT Partners and medical company Biomet, and has been granted exclusivity in the negotiations in recent days...
...Biomet, which is owned by a quartet of investment firms including the private equity arm of Goldman Sachs, has also been touted as a likely bidder for S&N....
...The question, however, is not whether Biomet wants S&N, but whether it can afford it....
...Smith & Nephew was 0.5 per cent softer at 670p after Biomet provided a drab start to the results season among the orthopaedics groups. A profit warning sent Thomas Cook slumping 28.4 per cent to 87¾p....
...Biomet and Smith & Nephew have tried to get together before....
...That is what happened last week after several media organisations tried to give credence to speculation that Smith & Nephew and Biomet were about to announce a deal to create a fourth big global company...
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