Zimmer Biomet to acquire soft tissue healing company Embody

Zimmer Biomet (NYSE:ZBH) today announced it entered a definitive agreement to acquire soft tissue healing developer Embody for up to $275 million.

Through the deal, Zimmer Biomet will pay $155 million at closing and up to an additional $120 million upon Embody achieving future regulatory and commercial milestones over a three-year period. The acquisition is expected to be accretive to overall revenue growth and slightly dilutive to adjusted earnings per share in 2023.

“Embody’s differentiated products and innovative pipeline in the area of sports medicine support our continued focus on and investment in high-growth markets and underscores our commitment to bringing meaningful new advances to patients and surgeons,” Zimmer Biomet President and CEO Bryan Hanson said in a news release. “The planned acquisition of Embody is an important step in the ongoing transformation of ZB and the execution of our strategic priority to increase long-term…

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