Zimmer Biomet’s $1B acquisition of LDR to ‘complement’ Broomfield operations
BROOMFIELD — Officials for medical-device manufacturer Zimmer Biomet on Tuesday said the company’s announced $1 billion acquisition of LDR would “complement” Zimmer Biomet’s spine business division that is headquartered in Broomfield.
But a spokesperson for Zimmer Biomet said it’s too early to tell what sort of impact on local jobs, if any, the deal might bring.
Zimmer Biomet officials said they intend to maintain a significant presence in Austin, Texas-based LDR’s Austin and Troyes, France offices. Zimmer Biomet employs 200 people in Broomfield.
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Zimmer Biomet (NYSE: ZBH) said LDR would be combined with Zimmer Biomet’s Spine and CMF category. The deal is expected to boost the Zimmer Biomet spine business with entry into the cervical disc replacement market.
Warsaw, Ind.-based Zimmer Biomet gained its Broomfield presence last year when Zimmer Holdings Inc. acquired Biomet Inc., which had the spine division in Broomfield. Tied to that acquisition, the Colorado Economic Development Commission at the time approved Zimmer Biomet for nearly $1 million in performance-based job-growth incentive tax credits based on the creation of 40 new full-time jobs with a minimum average annual wage of $72,644.
