Zimmer Finalizes Acquisition of Chinese Orthopaedic Implant Leader Beijing Montagne Medical Device Co., Ltd.
(BEIJING, CHINA) Dec. 21, 2010 — 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.
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 the use of forward-looking terms such as "may," "will," "expects," "believes," "anticipates," "plans," "estimates," "projects," "assumes," "guides," "targets," "forecasts," and "seeks" or the negative of such terms or other variations on such terms or comparable terminology. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that could cause actual outcomes and results to differ materially. For a list and description of such risks and uncertainties, see our periodic reports filed with the U.S. Securities and Exchange Commission. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be set forth in our periodic reports. Readers of this document are cautioned not to place undue reliance on these forward-looking statements, since, while we believe the assumptions on which the forward-looking statements are based are reasonable, there can be no assurance that these forward-looking statements will prove to be accurate. This cautionary statement is applicable to all forward-looking statements contained in this document.
Garry R. Clark
Paul G. Blair