BioMet acquiring Broomfield-based Lanx
Last Updated: 16:21 October 8, 2013
Terms of the deal have not been released.
Broomfield-based Lanx has about 200 workers who conduct research and make products for patients with degenerative spinal disc disease. The company raised $15 million in equity funding in May.
Biomet looks forward to "welcoming the talented Lanx team members and distributors to Biomet and working together to build our spine business," Jeff Binder, Biomet president and chief executive, said in a press statement.
Biomet also makes a line of spinal-device products as well as other medical devices. The company reported global revenue of $731 million for the most recent quarter ended Aug. 31.
The boards of both companies approved the deal, which is expected to close Nov. 29. The sale is subject to federal approval under the Hart-Scott-Rodino Antitrust Improvements Act and other closing conditions, according to the press statement.
Lanx has a testing laboratory accredited by the U.S. Food and Drug Administration at its 80,000-square-foot facility at 310 Interlocken Parkway, Suite 120.
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