Zimmer finalized an agreement to divest certain Zimmer Unicompartmental High-Flex Knee System assets as well as the Biomet Discovery Elbow System assets and Cobalt bone cement assets in the United States to move forward with the plan to acquire Biomet.
Here are five things to know:
1. Zimmer is continuing to work with the Bureau of Competition Staff of the U.S. Federal Trade Commission to meet compliance issues for the acquisition.
2. Zimmer hoped to finalize the agreement during the first quarter of 2015, but the company is still moving toward that goal. The most recent news release from Zimmer reports high confidence the deal will be done in the next few weeks.
3. The divestiture agreements are subject to further FTC review and acceptance of a consent order by the Commissioners of the FTC.
4. The European Commission and Japan Fair Trade Commission cleared Zimmer's proposed acquisition of Biomet.
5. When Zimmer receives the FTC's consent order and satisfaction of other customary closing conditions, the company plans to close the Biomet merger at the "earliest possible date" — anticipated to be in mid-June.