Zimmer Biomet Closes on Acquisition

Indiana's medical device industry is widely known as one of the strongest in the world.

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Warsaw-based Zimmer Biomet Holdings Inc. (NYSE: ZBH) has completed the acquisition of an Arizona medical device maker. The company says the deal for Cayenne Medical Inc. boosts its sports medicine capabilities.

Cayenne Medical designs, develops and markets soft tissue repair and reconstruction products for the knee, shoulder and extremities.

When the acquisition was announced last month, Zimmer Biomet Sports Medicine,Extremities, Trauma, Biologics and Surgical Businesses Group President David Nolan said it would allow the company’s "scale and specialized sales capabilities to broaden and accelerate the growth of Cayenne Medical’s clinically acclaimed offerings."

Cayenne Chief Executive Officer David Springer said joining Zimmer Biomet would help it meet unmet needs in the soft tissue repair and reconstruction markets.