A&E Medical, a cardiothoracic surgery company, offers a range of sternal closure devices
A&E Medical was acquired by Vance Street Capital in 2016.(Credit: Gerd Altmann from Pixabay)
Musculoskeletal healthcare company Zimmer Biomet has completed the acquisition of Vance Street Capital portfolio company A&E Medical for $150m in cash.
The transaction also includes the payment of $100m in cash in 2021.
Based in Farmingdale of New Jersey, A&E Medical is a cardiothoracic surgery company that offers a range of sternal closure devices such as sternal sutures, cable systems and rigid fixation solutions.
A&E Medical also provides a range of single-use complementary pacing wire and surgical punch products. The company was acquired by Vance Street Capital in 2016.
Zimmer stated that revenue from the new integrated business will be included in its dental, spine and craniomaxillofacial and thoracic (CMFT) product category.
Zimmer Biomet president and CEO Bryan Hanson said: “A&E Medical’s high-growth business and innovative products are highly complementary to our current portfolio and will allow us to offer a comprehensive suite of sternal closure products, including rigid fixation, which has the potential to shift the standard of care and address a variety of unmet patient and surgical needs.
“This deal aligns with our active portfolio management strategy and the ongoing transformation of our business that will position Zimmer Biomet for long-term growth.”
In September 2019, Zimmer Biomet secured 510(k) clearance from the US Food and Drug Administration (FDA) for its JuggerStitch meniscal repair device.
Based in Warsaw of Indiana, Zimmer Biomet designs, manufactures and sells orthopaedic reconstructive products, as well as sports medicine, biologics, extremities and trauma products.
The company also offers office-based technologies, spine, craniomaxillofacial and thoracic products, dental implants, and related surgical products.