Zimmer Biomet Holdings (ZBH) Acquires CD Diagnostics
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Zimmer Biomet Holdings, Inc. (NYSE: ZBH) announced the acquisition of CD Diagnostics, a fully-integrated, Delaware-based diagnostics company focused on developing immunoassays and biomarker testing to inform treatment decisions that improve patient outcomes. The financial terms of the transaction were not disclosed.
"I formed CD Diagnostics to solve the frustrating problem of diagnosing PJI and the complications associated with misdiagnosis, including the pain and incremental costs-of-care following joint replacement surgery. As a leader and visionary in musculoskeletal healthcare, Zimmer Biomet is the ideal partner to leverage our expertise in biomarker detection and immunoassay development, and to elevate the value of diagnostics in the treatment of musculoskeletal conditions," said Carl Deirmengian, M.D., Scientific Founder of CD Diagnostics.
"Our acquisition of CD Diagnostics cements our leadership and competitive advantage in musculoskeletal diagnostics, strengthens our Signature Solutions™ offering, and advances our mission to provide comprehensive musculoskeletal healthcare," said Dan Williamson, Group President, Joint Reconstruction for Zimmer Biomet. "As value-based healthcare replaces fee-for-service models, there will be a growing need for diagnostics that can either prevent or minimize costly complications, or personalize the course of treatment to speed up recovery time and optimize the patient experience and, ultimately, the patient's outcome."
Mr. Williamson added, "We're excited to team up with CD Diagnostics to accelerate the pace of innovation in musculoskeletal diagnostics, ramp up adoption of testing into standard protocols, and arm surgeons with critical data to inform diagnosis, staging, treatment and recovery."
CD Diagnostics is focused on analyzing biomarker profiles for various clinical conditions in synovial fluid (a viscous fluid that reduces friction between articular cartilage), and creating diagnostic assays that help physicians make informed decisions that optimize patient care. More than 40,000 samples have been evaluated at CD Diagnostics' laboratories resulting in more than 15 peer-reviewed publications.
"The Synovasure test is having an impact on patient outcomes because with this new test device, we are able to detect the periprosthetic infection with high accuracy. This is the first time we are able to tell the patient if they have an infection within hours of testing," said Prof. Dr. Thorsten Gehrke, Helios Indo-Klinik, Hamburg, Germany.
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