Orthopedic giant Zimmer isn’t revealing the price it paid for Germany-based foot and ankle and hand and wrist devices maker NORMED Medizin-Technik GmbH.
The acquisition of Germany-based NORMED Medizin-Technik GmbH was announced today, but the companies are keeping quiet about the terms of the deal.
NORMED develops screws, plates and specialized instruments for use in foot and ankle and hand and wrist surgeries, Zimmer said.
The companies did not divulge the details of the acquisition, which Zimmer hopes will “strengthen Zimmer’s Extremities and Trauma product portfolios and new product development capabilities in the fast growing foot and ankle and hand and wrist segments,” according to a press release.
Wall Street wasn’t much enthused by the news, with ZMH shares down 1.4 percent to $77.75 as of about 12:15 p.m. today.
Warsaw, Ind.-based Zimmer met analysts’ expectations with its 1st quarter earnings, reporting a 4.3 percent increasing in profits, despite a spike in lawsuits for hip and knee replacement products.