On April 24, 2014, Zimmer Holdings announced that it will purchase Biomet, Inc., for $13.35 billion. The sale is expected to go through by the first quarter of 2015.
Zimmer Holdings has agreed to include Biomet’s “net debt” in the purchase. In the meantime, Biomet is being sued nationally and globally over its Magnum M2a Hip Replacement System. The pending sale may be one reason Biomet agreed to a $56 million settlement of all its U.S. Magnum M2a lawsuits in an effort to reduce its net debt.