Zimmer Biomet Equity Offering

Cleary Gottlieb represented funds affiliated with Blackstone and Goldman Sachs in a $1.06 billion secondary public offering of 11,027,558 shares of common stock of Zimmer Biomet Holdings.

The offering priced at $96.45 per share on February 4 and closed on February 10.  All of the shares of common stock offered were sold by the selling stockholders. As part of this transaction, Zimmer Biomet repurchased 2,599,833 of the 11,027,558 shares of common stock from the underwriter for approximately $250 million. Zimmer Biomet did not sell any shares or receive any proceeds from the offering.

Based in Warsaw, Indiana, Zimmer Biomet is one of the world’s largest orthopedic medical device companies, with operations in more than 25 countries and distribution in more than 100 countries.  Biomet designs, manufactures and markets orthopedic reconstructive products; sports medicine, biologics, extremities and trauma products; spine, bone healing, craniomaxillofacial and thoracic products; dental implants; and related surgical products. Its products and solutions help treat patients suffering from disorders of, or injuries to, bones, joints or supporting soft tissues.