Jul. 22, 2010 (China Knowledge) – Zimmer Holdings, the world’s largest supplier of orthopedic products and instruments, has agreed to acquire Beijing Montagne Medical Device Co for about RMB 350 million, the China Business News reported yesterday.
New York-listed Zimmer is expected to announce the acquisition later today, according to the report.
The newspaper said that that the purchase of Beijing Montagne will help the U.S. company expand its business in China.
Beijing Montagne, a Sino-French joint venture located in Changping Hi-Tech Zone, Zhongguancun Science Park, is one of the leading suppliers of artificial joints in China. In 2009, the Beijing-based company realized sales revenue of more than RMB 60 million, with a profit-to-sales ratio of about 23%.
Zimmer’s global sales are about US$4 billion annually. The company had 26.9% share in world’s orthopedic market.