Source:

Press Release

December 26, 2020
1 min read
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Zimmer Biomet acquires A&E Medical Corporation

Source:

Press Release

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Zimmer Biomet has announced the acquisition of A&E Medical Corporation, a Vance Street Capital Portfolio Company, and its sternal closure portfolio, according to a press release.

The deal was completed for $150 million at closing and $100 million in cash payable in 2021.

A&E Medical’s portfolio of sternal closure devices includes sutures, cable systems, rigid fixation, single-use pacing wire and surgical punch products, according to the release.

“A&E Medical’s high-growth business and innovative products are highly complementary to our current portfolio and will allow us to offer a comprehensive suite of sternal closure products, including rigid fixation, which has the potential to shift the standard of care and address a variety of unmet patient and surgical needs,” Bryan Hanson, president and CEO of Zimmer Biomet, said in the release. “This deal aligns with our active portfolio management strategy and the ongoing transformation of our business that will position Zimmer Biomet for long-term growth.”