Zimmer Completes Offer for Centerpulse

Stating that it is now the leading "pure-play” orthopedics company in the world, Zimmer Holdings, Inc. (Warsaw, IN, USA) has announced the closing of its offer for Centerpulse AG (Zurich, Switzerland).

As a result of the exchange offer, Zimmer now owns 98.7% of the issued Centerpulse shares and 99.9% of the issued shares held by InCentive Capital AG, which owned 18.3% of Centerpulse shares. Zimmer intends to promptly initiate the process to acquire all of the shares that remain outstanding, thereby concluding an offer that began in May 2003 when the company first announced its offer of around US$3.1 billion for Centerpulse.

The transaction creates a company with combined 2002 sales of more than $2 billion; more than 100,000 products in the reconstructive, trauma, spine, dental, and orthopedic surgery areas; and more than 1,000 patents. Zimmer estimates that about 25% of its sales will be generated in Europe. The addition of Centerpulse bolsters Zimmer's presence in Europe, while complementing its market strengths in the USA and the Japan/Asia Pacific regions.

"This strategic transaction solidifies our industry leadership and creates a powerful engine for future growth with exceptional research and development capabilities; a dedicated and culturally diverse work force; and venders, partners, and sales representatives worthy of envy. Patient quality of life and a passion to win will continue to guide us,” said Ray Elliot, chairman, president, and CEO of Zimmer.





Related Links:
Zimmer
Centerpulse