Zimmer to Buy Abbott Spine for $360 MillionZimmer to Buy Abbott Spine for $360 Million
Zimmer Holdings has announced its plans to buy Abbott Laboratories' spine division. The $360-million deal should be completed by this year's fourth quarter. Zimmer's spine business reached $197 million in sales last year, only five percent of its total sales. Abbott Spine hit $109 million in 2007, which is a very small portion of its total drug and device sales revenue of $25.9 billion.
September 5, 2008
1 Min Read
David Dvorak, Zimmer's CEO, said the acquisition will strengthen the company's sales scope, product pipeline, and add to its R&D capabilities.
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