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Cultivate(Md) Capital Funds Announces Portfolio Company Embody'S Acquisition By Zimmer Biomet Holdings, Inc.

Jan 10, 2023•almost 3 years ago

Acquiring Company

Zimmer Biomet

Acquired Company

cultivate(MD) Capital Funds

Warsawmedical devicesArtificial IntelligenceHealth CareInformation TechnologyMedicalBiotechnologyHealth Care

Description

cultivate(MD) Capital Funds LP, funds that are focused on investments into early-stage healthcare companies with innovative technologies, announced today that one of their portfolio companies, Norfolk, VA-based Embody, Inc., a privately held medical device company focused on soft tissue healing, has reached an agreement with Zimmer Biomet Holdings, Inc., a global leader in medical technology, to be acquired. The terms of the acquisition include $155 million at closing and up to an additional $120 million based on achieving future milestones over the next three years.

Company Information

Company

Zimmer Biomet

Location

Warsaw, Indiana, United States

About

Zimmer Biomet is a global medical technology leader with a comprehensive portfolio designed to maximize mobility and improve health. We seamlessly transform the patient experience through our innovative products and suite of integrated digital and robotic technologies that leverage data, data analytics and artificial intelligence. With 90+ years of trusted leadership and proven expertise, Zimmer Biomet is positioned to deliver the highest quality solutions to patients and providers. Our legacy continues to come to life today through our progressive culture of evolution and innovation. For more information about our product portfolio, our operations in 25+ countries and sales in 100+ countries or about joining our team, visit www.zimmerbiomet.com or follow Zimmer Biomet on Twitter at www.twitter.com/zimmerbiomet.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed