News Release
WARSAW — Zimmer-Biomet announced Thursday that it would acquire Embody, a medical device company that specializes in healing ligaments and tendons.
According to a news release, Embody is a “soft tissue healing company, that is pioneering the next generation regenerative platform with novel collagen-based bio-fabrication techniques and products for the fast-growing sports medicine market.”
One of Embody’s products is an arthroscopic implant system for rotator cuff repair.
“Embody’s differentiated products and innovative pipeline in the area of sports medicine support our continued focus on and investment in high-growth markets and underscores our commitment to bringing meaningful new advances to patients and surgeons,” said Bryan Hanson, Chairman, President and CEO of Zimmer Biomet.
“The planned acquisition of Embody is an important step in the ongoing transformation of ZB and the execution of our strategic priority to increase long-term growth and drive value creation.”
The acquisition of Embody is expected to be finalized in February of 2023.
The acquisition is valued at $155 million but Embody will receive additional payments of up to $120 million based on certain future regulatory and commercial milestones.
