Zimmer Buys ETEX, Awaits EU Decision on Biomet Acquisition

Amid efforts to complete the acquisition of Biomet Inc. in Europe, Zimmer Holdings Inc. has acquired the business of Cambridge, Mass.-based ETEX Holdings Inc. The financial terms of the transaction were not disclosed. The acquisition adds to Zimmer’s Biologics portfolio of differentiated treatments through the addition of ETEX’s Beta-bsm (injectable), Carrigen, Equivabone (including demineralized bone matrix), and Gamma-bsm (putty) bone void filler products.

“[Founder Dosuk Lee’s] breakthrough technology in biomimetic calcium phosphate, which mimics the chemical and structural features of human bone, promotes natural bone regeneration that positively impacts patients’ lives,” said Stephen R. La Neve, ETEX president and CEO. “Zimmer’s long history, dedication and focus in the orthopaedic market is a perfect complement to our technology and dramatically expands our ability to reach a broader array of clinicians.”

“ETEX’s innovative bone substitute material products add more depth to a growing portfolio of solutions for the early stages of joint disease,” said Joseph A. Cucolo, President, Zimmer Americas.

As for Biomet, a recent Reuters report stated that EU antitrust regulators will widen a probe into Zimmer’s $13.4 billion bid for the orthopedic device company.

The European Commission, which has been reviewing the deal since August, will open an in-depth investigation into the Zimmer/Biomet deal because of concerns that it may reduce competition, sources said.

The acquisition would make Warsaw, Ind.-based Zimmer the second-largest seller of orthopedic products behind Johnson & Johnson, boosting its presence in the fast-growing sports medicine sector.