Zimmer Holdings, Inc. that its acquisition of Abbott Spine has been completed. Zimmer paid $360 million in cash in the transaction.
David Dvorak, Zimmer President and CEO, It is a pleasure to welcome Abbott Spine employees and customers to the Zimmer family and we look forward to building toward critical mass with our expanded Zimmer Spine business.
We have appreciated the engagement of the Abbott Spine management team as we have been able to move ahead briskly with our integration planning. We are excited to now work together to execute those plans and begin to take advantage of the great potential and strategic opportunity represented by this combination.
Abbott Spine has developed a series of innovative technologies and techniques to treat spine disease. Among the key products are the InCompass® Pedicle Screw System; the Pathfinder® Minimally Invasive Pedicle Screw system; the Wallis® Interspinous Stabilizer System (available outside the U.S.); the Ant-Cer® Dynamic Cervical Plate; and the Universal Clamp®. Zimmer Spine, which is based in Minneapolis, Minnesota, intends to maintain a presence at Abbott Spine's Austin and Bordeaux sites.