WARSAW, Ind., Jun 25, 2003 /PRNewswire-FirstCall via COMTEX/ --
Zimmer Holdings, Inc. (NYSE: ZMH) today announced that it has purchased the TransFx(TM) External Fixation System product line from Immedica, Inc. Zimmer has sold the TransFx System since early 2001 under a distribution agreement with Immedica. The acquisition continues the company's program of gross margin expansion through vertical integration. Terms of the transaction were not disclosed.
"The TransFx System has been very well received by surgeons and has been an important element in our growing portfolio of trauma surgery solutions," said Zimmer Chairman, President and Chief Executive Officer Ray Elliott. "The innovative design provides excellent fracture reduction while contributing to efficient inventory management within the hospital -- it's been a winner on a number of levels."
The TransFx line is a comprehensive system with a broad range of sizes capable of treating any fracture where external fixation is utilized. The purchase of the product line allows Zimmer to have direct control of product design and future innovations.
The world market for external fixation devices is estimated by various sources at more than $300 million.
Zimmer, based in Warsaw, Indiana, is a global leader in the design, development, manufacture and marketing of reconstructive orthopaedic implants and trauma products. Orthopaedic reconstruction implants restore joint function lost due to disease or trauma in joints such as knees, hips, shoulders and elbows. Trauma products are devices used primarily to reattach or stabilize damaged bone and tissue to support the body's natural healing process. Zimmer also manufactures and markets other products related to orthopaedic and general surgery. For the year 2002, Zimmer recorded worldwide revenues of approximately $1.4 billion. Zimmer was founded in 1927 and has more than 3,600 employees worldwide.
Visit Zimmer on the worldwide web at www.zimmer.com
SOURCE Zimmer Holdings, Inc.
Media, Brad Bishop, Public Affairs, +1-574-372-4291, or firstname.lastname@example.org, or Investors, Sam Leno, Chief Financial Officer, +1-574-372-4790, or email@example.com, both of Zimmer Holdings, Inc.
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