Zimmer Biomet to acquire Embody for $155M at closing

Zimmer Biomet announced that it has reached a definitive agreement to acquire Embody, a privately-held medical device company focused on soft tissue healing, for $155M at closing and up to an additional $120M subject to achieving future regulatory and commercial milestones over a three year period. The acquisition is expected to be accretive to overall revenue growth and slightly dilutive to adjusted earnings per share in 2023. The transaction is subject to customary closing conditions and is expected to be completed in February 2023.