Zimmer to Acquire LDR for $1 B

Zimmer Biomet has entered a definitive agreement to acquire LDR for roughly $1 billion, the company announced Tuesday.

Under the agreement, which is expected to close during the third quarter of this year, Zimmer will gain all outstanding shares of LDR for $37 per share.

According to Zimmer, acquiring the spinal devicemaker will boost its “presence in the global spine market.” — Anisa Jibrell