Biomet is now Zimmer Biomet

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Biomet
 
 

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Information About Biomet

A Heritage of Excellence

Our founders created Biomet in 1977 and since then have built the company into a global business, with operations in 70 countries around the world. With a history of innovation and entrepreneurial flair, Biomet is continuously expanding its European presence, to pursue ground-breaking concepts for the European market place.
 
History of Biomet
 
30 November 1977: Dane A. Miller, Ph.D, Niles L. Noblitt, Jerry L. Ferguson and M. Ray Harroff brought to life their vision of providing patients with the highest quality, cutting edge orthopaedic products on the market. In the first year, Biomet recorded sales of $17,000 with a net loss of $63,000. Undeterred, the founders remained focused on their vision for the future of orthopaedics.
 
1984: Biomet expanded manufacturing operations into Europe with the acquisition of Orthopaedic Equipment Company (OEC). OEC provided the Company with a broad line of internal fixation devices and operating room supplies.
 
1988: Electro-Biology, Inc. (EBI) was purchased by Biomet, offering a superior product line in both the electrical bone growth stimulation and external fixation markets. 
 
Today EBI operates under the trade names Biomet Trauma and Biomet Spine.
 
1990: Biomet entered the arthroscopy market with the acquisition of Arrow Surgical Technologies, expanding their product range even further. 
 
The arthroscopy product range has continued to evolve and is now incorporated in the subsidiary Biomet Sports Medicine.
 
1992: W. Lorenz Surgical, Inc., an established leader in the craniomaxillofacial market was acquired, opening another avenue of expertise for Biomet to pursue.
 
1994: With the purchase of Kirschner Medical Corporation, Biomet was able to expand still further in reconstructive and softgoods production.
 
1998: Biomet Inc. and Merck KGaA of Darmstadt, Germany pooled their resources to form the Biomet Merck Joint Venture. The company quickly expanded its presence in Europe and enhanced its product range, using the knowledge and skills of both partners. Biomet Inc. brought established excellence in the orthopaedic sector, while Merck KGaA brought a wealth of knowledge of biomaterials, based on a heritage of over 300 years in the pharmaceutical industry.
 
1999: Biomet expanded into the dental reconstructive implant market, purchasing Implant Innovations, Inc. (3i). 3i continues to be a market leading company developing new products and technologies.
 
2004: In the Spring of 2004, Biomet Inc. purchased Merck KGaA’s interest in the Biomet Merck Joint Venture which led to the dissolution of the Joint Venture and the creation of the Biomet Europe Group. 

25 September 2007: Biomet,Inc. is acquired by LVB Acquisitions Inc, a consortium by and between The Blackstone Group L.P., Goldman Sachs & Co., Kohlberg Kravis Roberts & Co. L.P. and TPG Capital.
Biomet common shares ceased trading on NASDAQ at market close on 25 September 2007.