S&N’s Potential Biomet Acquisition Would Create Top-Tier Ortho Player
This article was originally published in The Gray Sheet
Executive Summary
Smith & Nephew is weighing a potential acquisition of Biomet that would create a top-tier reconstructive orthopedic implant player and tighten competition with rivals Zimmer, Stryker and Johnson & Johnson/DePuy
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Biomet engages Morgan Stanley
Stymied in its effort to reverse several quarters of lackluster revenue performance, Biomet has solicited Morgan Stanley's assistance in "exploring strategic alternatives focused on enhancing shareholder value," the firm announced April 6. The news follows on the heels of CEO and co-founder Dane Miller's resignation (1"The Gray Sheet" April 3, 2006, In Brief). The orthopedics firm says the consideration may not result in specific action. Meanwhile, analysts suggest that Biomet would be an attractive acquisition for major orthopedics players, including Stryker, Zimmer, Smith & Nephew and J&J...