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Stock Market & Financial Investment News

News Breaks
December 28, 2012
11:38 EDTZMHZimmer recalls all 315 units of PEEK Ardis Inserter, FDA says
The FDA posted on its website that Zimmer issued a December 21 recall of its PEEK Ardis Inserter. Zimmer Spine has received reports of the PEEK Ardis Interbody Spacer breaking into fragments when too much lateral force is applied to the Ardis Inserter, the FDA said. If the PEEK Ardis Interbody Spacer breaks during implantation, surgical delays of up to 60 minutes could occur and health risks may include a tear in the thin covering of the spinal cord, cerebrospinal fluid leakage, significant blood loss and nerve injury, the agency added. On Dec. 20, Zimmer Spine modified their Medical Device Correction memo and initiated a voluntary recall of all 315 units of the PEEK Ardis Inserter.
News For ZMH From The Last 14 Days
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December 5, 2014
09:37 EDTZMHZimmer price target raised to $135 from $122 at Leerink
Leerink raised its price target for Zimmer shares to $135 saying it continues to have a positive outlook on the Biomet transaction and remains confident in a Q1 close. The firm keeps an Outperform rating on the stock.
December 4, 2014
09:11 EDTZMHZimmer provides update on EC review process relating to Biomet merger
Zimmer announced that it has proposed a remedy package to the European Commission to facilitate the EC's approval of Zimmer's proposed acquisition of Biomet. Zimmer has been working closely with the EC to develop a mutually-acceptable solution to address the discrete concerns identified by the EC in its preliminary assessment of the proposed acquisition of Biomet. The remedy package proposed by Zimmer includes the divestiture of one unicompartmental knee brand and one elbow brand in the European Economic Area and one total knee brand in two EEA countries. The EC will market-test the proposed remedy package in the coming days. In parallel, the EC has "stopped the clock" on its review of the proposed merger. Zimmer continues to be encouraged by the substantial progress that has been made to date in connection with the overall regulatory process and expects to close the transaction in the first quarter of 2015. The transaction also remains subject to the expiration or termination of the applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, approval from the Japan Fair Trade Commission, as well as other customary closing conditions. Under the terms of the merger agreement announced on April 24, 2014, Zimmer will acquire Biomet in a cash and stock transaction valued at approximately $13.35 billion, including the assumption of net debt.

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