Medical device company Zimmer Biomet Holdings Inc. (NYSE: ZBH) has acquired biotechnology company CD Diagnostics. The two companies originally partnered together in 2012 as a part of a co-development and marketing deal. Financial terms of the purchase were not disclosed.
CD Diagnostics develops medical tests that are designed to improve treatments related to joint infections. The Claymont, Delaware-based target is known for the Synovasure brand, which is used by more than 2,000 surgeons.
“There will be a growing need for diagnostics that can either prevent or minimize costly complications, or personalize the course of treatment to speed up recovery time and optimize the patient experience and, ultimately, the patient's outcome,” says Dan Williamson, the president of Zimmer’s joint reconstruction group. Improving patient results is one factor that has been driving medical technology deals.
Zimmer recently bought spine surgery tech developer LDR Holding and earlier in 2016, the Warsaw, Indiana.-based company completed the purchase of Cayenne Medical. The latter develops implants and other products that are used to repair soft tissues in shoulders and knees.
In other health care technology deals, Auris Surgical Robotics Inc. announced plans to purchase medical robot manufacturer Hansen Medical Inc.; MedData Inc. is buying hospital software developer Cardon Outreach; and Thoma Bravo is acquiring medical IT security firm Imprivata (NYSE: IMPR).
After clicking on a story, use the back arrow in your browser to return to your search results. Use phrases "in quotes" or the tools below to better filter your results.
