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Industry Watch

May 19, 2014

3M ESPE earns accolade, appoints new leader

St. Paul, Minn.—3M ESPE is celebrating an industry award for innovation and a new president and general manager.

American Dental Association
Mr. Ingebrand

For the ninth consecutive year, 3M ESPE won recognition from the Anaheim Group as the most innovative company in the dental industry worldwide. The Anaheim Group published the recognition, based on new product approvals and international patents, in the 2013 Dental Industry Review. 3M ESPE earned 63 new product approvals and international patents in 2013, including two new product clearances for the U.S. market, 36 U.S. patents, and 25 patents from the European Patent Office and the World Intellectual Property Organization.

Also, 3M ESPE Dental appointed James Ingebrand as its new president and general manager, responsible for the strategic direction and overall operations of 3M ESPE. In his 30-year career with 3M, Mr. Ingebrand has focused on health care, including dental. His previous positions within 3M include roles as president and general manager of 3M Drug Delivery Systems, global business director for 3M ESPE Dental and as the marketing director for the 3M Infection Prevention Division.

Mr. Ingebrand started his career at 3M in 1984 as a marketing analyst in the Corporate Marketing Research Department.

Ormco raises money for orthodontic foundation

Orange, Calif.—Ormco Corporation raised more than $275,000 over the past four years to help the Smile for a Lifetime Foundation provide free orthodontic care to young patients in need. 

Ormco Corporation manufactures and provides advanced orthodontic and technology. The company hosted Smile for a Lifetime Foundation's Smilent Aunction at its annual Damon Forum in Phoenix, where more than 1,100 orthodontists gathered to learn about the latest advancements in orthodontic treatment.

Ormco is a primary sponsor of the Smile for a Lifetime Foundation and provides free brackets to orthodontists who award and treat the foundation's scholarship recipients.

The Smile for a Lifetime Foundation also receives donations of cash, services and products from more than 20 other orthodontic businesses and organizations.

In the last five years, S4L chapters have donated more than $1.8 million in orthodontic services to awarded scholars in North America.

S4L will provide orthodontic scholarships to 1,200-1,500 children this year.

Zimmer to acquire Biomet

Warsaw, Ind.—Zimmer Holdings Inc. will acquire Biomet Inc. in a cash and stock transaction valued at about $13.4 billion, including the assumption of net debt, the companies announced.

The transaction, which is subject to customary closing conditions and regulatory approvals, is expected to close in the first quarter of 2015. 

The combined company is expected to deliver growth by offering a more comprehensive portfolio of solutions with enhanced cross-selling opportunities. In addition, the combined company is expected to advance innovation to benefit health care stakeholders, and stockholders are expected to benefit from a more diversified and predictable revenue mix consistent with the comprehensive portfolio.

Upon closing, the transaction is expected to be double digit accretive to Zimmer's adjusted diluted earnings per share in the first year. Cash flows from operations are expected to increase by 1.5 times Zimmer's stand-alone estimates.