By MARK TAYLOR – June 10,2016
While the stock of Austin, Texas.-based spine device maker LDR Holdings has leaped in value by 60 percent in the wake of its proposed sale to Zimmer Biomet Holdings of Warsaw, Indiana, for around $1 billion, it must feel like déjà vu all over again in the Texas capital.
LDR would be the third Austin company Zimmer has purchased in the last 13 years. Anarticle by the Austin American-Statesman pointed out that Zimmer has twice before bought local firms, only to close and consolidate operations in the years after the sale, costing the city more than 500 jobs.
LDR leaders touted the sale as beneficial to both companies.
“LDR is very enthusiastic regarding the potential of the combined enterprise with Zimmer Biomet,” said Joseph Ross, executive vice president of global marketing for LDR Spine.
“With regard to the future of the current LDR business locations, we are confident in, and support the communication from Zimmer Biomet that they intend to complement their spine headquarters in Broomfield, Colorado, by also maintaining a significant presence in Austin, Texas, and also in Troyes, France.”
