Zimmer Finalizes Acquisition of Chinese Orthopaedic Implant Leader Beijing Montagne Medical Device Co., Ltd.
BEIJING, Dec. 21, 2010 /PRNewswire-FirstCall/ -- Zimmer Holdings, Inc. (NYSE and SIX: ZMH), a global leader in musculoskeletal care, today announced that it has completed the acquisition of Beijing Montagne Medical Device Co., Ltd. The acquisition further enhances Zimmer's presence in the emerging Chinese market.
"We are delighted to welcome Montagne to the Zimmer family," said David C. Dvorak, President and CEO of Zimmer. "Our expansion in China demonstrates Zimmer's commitment to invest globally in high-growth emerging markets."
The acquisition will provide an expanded product line in hips, knees and powered surgical instruments tailored to the Chinese market. "We want to create products that address the unique needs of the Chinese market. Montagne will provide us access to additional research, development, and manufacturing capabilities that will allow us to achieve this goal," said Stephen Ooi, Zimmer President, Asia Pacific.
Founded in 1927 and headquartered in Warsaw, Indiana, Zimmer designs, develops, manufactures and markets orthopaedic reconstructive, spinal and trauma devices, dental implants, and related surgical products. Zimmer has operations in more than 25 countries around the world and sells products in more than 100 countries. Zimmer's 2009 sales were approximately $4.1 billion. The Company is supported by the efforts of more than 8,000 employees worldwide. For more information, please visit www.zimmer.com.
Zimmer Safe Harbor Statement
This press release contains forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 based on current expectations, estimates, forecasts and projections about the orthopaedics industry, management's beliefs and assumptions made by management. Forward-looking statements may be identified by th