TechSeeker Profile

Biomet, Inc. was a medical device manufacturer located in the Warsaw, Indiana business cluster. The company specialized in reconstructive products for orthopedic surgery, neurosurgery, craniomaxillofacial surgery and operating room supplies. In 2015, Biomet became part of the new company Zimmer Biomet. Biomet was established in 1977 and delivered its first hip replacement in 1978. In a September 2007 club deal, the company was acquired by a consortium of private equity firms consisting of The Blackstone Group, Goldman Sachs, Kohlberg Kravis Roberts L.P. and TPG Capital, after which Biomet ceased trading on NASDAQ. In April 2014, it was announced that Zimmer Holdings had succeeded in a bid to acquire Biomet for a fee of $13.4 billion. However, in October 2014, EU antitrust regulators opened an investigation into Zimmer’s bid on the grounds that the deal may lead to substantial decreases in competition in certain markets. The verdict of the investigation into the deal that would make Zimmer the world's second-largest seller of orthopaedic products behind Johnson & Johnson allowed the merger to take place in June 2015.