Precimed to be Purchased by Greatbatch
Precimed, a privately owned organization that develops orthopaedic instruments, will be purchased by Greatbatch, Incorporated. The deal includes a $125 million cash exchange. The deal is expected to close early next year. The news was detailed in a press release from Greatbatch.
One component of the deal includes the previously arranged contract by Precimed to purchase another orthopaedics manufacturer. Additional terms for Precimed include additional payments based on earnings during 2008 which may amount up to $10 million.
Greatbatch designs and manufactures medical device components. This new deal will position Greatbatch as one of the three leading providers to Orthopaedic OEMs. Moreover, this deal will aid Greatbatch in diversification of their product offerings.
November 29, 2007 Related topics: Mergers & Acquisitions, Orthopedic