Biomet

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Biomet, Inc.
Type Private
Industry Health Care
Founded Warsaw, IN, USA (1977)
Headquarters Warsaw, IN, USA
Key people Jeff Binder, CEO
Products Oxford Partial Knee, LactoSorb
Owners Blackstone Group, Goldman Sachs, Kohlberg Kravis Roberts, TPG Capital
Employees 9,200 (2007)
Website www.biomet.com

Biomet, Inc. is one of the world's leading medical device manufacturers located in the Warsaw, Indiana business cluster.[1] The company specializes in reconstructive products for hips, knees and shoulders, fixation devices, orthopedic support devices, dental implants, spinal implants and operating room supplies.

In April 2014, it was announced that Zimmer Holdings had succeeded in a bid to acquire Biomet for a fee of $13.4 billion. However in October 2014, EU antitrust regulators opened an investigation into Zimmer’s bid for Biomet on the grounds that the deal may lead to substantial decreases in competition in certain markets. The verdict of the investigation was announced to be decided on 16 February 2015.[2]

History[edit]

Biomet 2 was established in 1977 and delivered its first hip replacement in 1978. In a September 2007 club deal the company was acquired by a consortium of private equity firms and ceased trading on NASDAQ.[3]

The four founders of Biomet were: Dane A. Miller, Ray Harroff, Niles Noblitt, and Jerry Ferguson.

American gymnast Mary Lou Retton endorses Biomet, specifically the Oxford Partial Knee.[clarification needed]

Biomet Microfixation[edit]

Biomet Microfixation is a subsidiary of Biomet that manufactures craniomaxillofacial products.[4]

Its products include LactoSorb, the first completely resorbable fixation system available in the U.S.,[5] titanium plates and screws for craniomaxillofacial fixation, and instruments for craniomaxillofacial and orthopedic procedures.

The company's corporate headquarters is in Warsaw, Indiana.

References[edit]

  1. ^ Hermann Simon mentioned this company in his correspondent Book as an example of a "Hidden Champion" (Simon, Hermann: Hidden Champions of the 21st Century : Success Strategies of unknown World Market Leaders. London: Springer, 2009.- ISBN 978-0-387-98147-5.)
  2. ^ "EU regulators open extensive probe into Zimmer, Biomet deal" (Press release). Reuters. 3 October 2014. 
  3. ^ http://www.biomet.com/corporate/investors/biometAcquired.cfm
  4. ^ http://www.biometmicrofixation.com/about_us.php
  5. ^ http://www.biometmicrofixation.com/category.php?cat=5

External links[edit]