Biomet signs acquisition agreement for Lanx Inc
Biomet Inc. is a global leader in the manufacturing of musculoskeletal and biotechnology products. Today, the company announced that it had reached an acquisition agreement to acquire Lanx Inc. The latter is a full service spine company and a leader in invasive techniques and technologies.
The pending acquisition would expand the technology portfolio of Biomet Spine. This would be through the addition of innovative products that are currently offered by Lanx including Timberline Lateral Approach Fusion System and the Aspen Minimially Invasive Fusion System. The products from Lanx Inc. would be complementary to Biomet Spine's comprehensive offering of products.
The closing of the agreement would be subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act. It would also be subject to other customary closing conditions.
Biomet President and CEO, Jeff Binder stated, "This is an exciting opportunity for Biomet to improve its competitiveness in the spine market by leveraging the best aspects of each company and adding strategically important technologies to our product portfolio. We look forward to welcoming the talented Lanx team members and distributors to Biomet and working together to build our spine business."