Summary

Other Scenarios:

Buyer: Zimmer Holdings, Inc. (ZMH) Last Price: 66.45 Market Cap.: 15.69B
Target: Arrow International, Inc. (ARRO) Last Price: 45.48 Market Cap.: 2.06B

Lines of Business Summary:

Product Summary:

Overlap & Complementary Sectors

Sector Buyer Target # of Focused Companies
Healthcare 933
Biopharmaceuticals   381
Medical Devices 253

- Focused. Denotes that the company is considered focused in this area. In general, Focused Companies draw the majority of their earnings in the sector/product area specified.

- Sector Pure-Plays. Denotes that the company is focused in the selected sector and generates nearly all earnings in the sector/product area specified.

- Sector Participation. Denotes that the company develops products in this line of business.

Sample Products in Similar Lines of Business

Sample Products in Complementary Lines of Business
Buyer (Total: 151)
  • Palm Pump Pain Management System
  • Zimmer Dental Fixation Clips For Tubing Set
  • Zimmer Dental Irrigation Accessories And Tubing Sets
  • Zimmer Dental Contra-Angles And Handpieces With Irrigation
Target (Total: 86)
  • FlexTip Plus/TheraCath Epidural Kit
  • Epidural Needle Series
  • 7cc Luer Slip Loss of Resistance Syringe
  • Single Shot Epidural Anesthesia Kit
Buyer

n/a
Target
  • ChloraPrep

Business Relationship Summary:

Top Key Suppliers

Top Key Customers
Buyer (Total: 7)
  • Tutogen Medical, Inc. (TTG)
  • Symmetry Medical Inc. (SMA)
  • Kensey Nash Corporation (KNSY)
  • Regeneration Technologies, Inc. (RTIX)
Target (Total: 3)
  • Kilroy Realty Corporation (KRC)
  • QAD Inc. (QADI)
  • Enturia, Inc.
Buyer (Total: 5)
  • VHA, Inc.
  • Premier, Inc.
  • HealthTrust Purchasing Group
  • Cynosure, Inc. (CYNO)
Target (Total: 0)

n/a

Key Financial Summary:

Key Metrics

  Buyer Target
Number of Employees 6,900 4,000
Revenue Per Employee 525,032.6 130,854.5
Total Revenue 903.2 130.5
Total Expenses 777.2 108.4
Other Revenue 0.0 0.0
Cost of Revenue 199.2 64.4
SG&A Expense 352.6 35.8
Research & Development 53.0 7.0
Other Operating Expense 0.0 0.0
Operating Income 126.0 22.1
Unusual Income 172.4 1.2
LT Debt to Capital 1.93 0
Fwd P/E 16.94 n/a
Fwd P/Rev 4.07 n/a
Book Value 5,253.2 556.3
Curr Portion of LTD/Cap Lease 0.0 1.0

Individual Company Summary

Focused

Buyer

Focused (): Healthcare > Medical Devices > Orthopedics > Surgical > Procedure Specific > Joint Replacement/Reconstruction

Target

Focused (): Healthcare > Medical Devices > Drug Delivery > Infusion Therapy > Vascular Access

Business Description

Buyer

Zimmer Holdings, Inc. (Zimmer) designs, develops, manufactures and markets reconstructive orthopaedic implants, including joint and dental, spinal implants, trauma products and related orthopaedic surgical products. The Company?s products include joint and dental reconstructive orthopaedic implants, spinal implants, trauma products, and related orthopaedic surgical products. Its related orthopaedic surgical products include surgical supplies and instruments designed to aid in orthopaedic surgical procedures and post-operation rehabilitation. Orthopaedic surgeons and neurosurgeons use spinal implants in the treatment of degenerative diseases, deformities and trauma. Trauma products are used primarily to reattach or stabilize damaged bone and tissue to support the body?s natural healing process. In June 2006, Zimmer acquired Musculoskeletal Management Systems, LLC, known as The Human Motion Institute (HMI). HMI is a hospital efficiency consulting business focused on orthopaedics.

Target

Arrow International, Inc. (Arrow) develops, manufactures and markets a range of clinically advanced, disposable catheters and related products for critical and cardiac care. The Company's critical care products are used principally for central vascular access in the administration of fluids, drugs and blood products, patient monitoring and diagnostic purposes. These products are used by anesthesiologists, critical care specialists, surgeons, cardiologists, nephrologists, emergency and trauma physicians, and other healthcare providers. Arrow's cardiac care products are used by interventional cardiologists, cardiac surgeons, interventional radiologists and electrophysiologists for purposes, such as the diagnosis and treatment of heart and vascular disease, and to provide short-term cardiac assist following cardiac surgery, serious heart attack or balloon angioplasty. In October 2007, Teleflex Incorporated completed the acquisition of Arrow.

Deal Summary

Key Ratios

  Buyer Target
Gross Margin % 77.92 50.38
Operating Margin % 29.65 17.71
Quick Ratio 1.36 2.01
Current Ratio 2.69 3.02
Coverage Ratio 0 0.05
Total Assets 6,367.2 726.2
Return on Equity % 14.36 10.98
Return on Assets % 11.85 8.41
Cash+ ST Inv. Per Share 1.32 3.79
Total Debt 103.2 64.9
Total Debt to Equity % 1.96 11.67
Total Debt to Tangible Equity % 5.28 13.73
Debt to Asset % 1.62 8.94

Product Summary

Sector Buyer Target
Healthcare
Biopharmaceuticals  
Infectious Diseases
The Infectious Diseases Subsector includes therapeutics that treat diseases caused by the invasion and reproduction of microorganisms in the body.
  
Surgery
The Surgery Subsector includes therapeutics that treat complications associated with surgical procedures.
  
Medical Devices
Anesthesiology
The Anesthesiology Subsector includes medical devices that deliver and monitor anesthetics.
Cardiology
The Cardiology Subsector includes medical devices that diagnose, monitor, and treat diseases affecting the heart and proximal blood vessels. Common devices include vital sign monitors, cardiac defibrillators, pacemakers, and other surgical equipment.
  
Clinical Diagnostics
The Clinical Diagnostics Subsector includes medical devices that analyze human body specimens within a medical setting. These devices, including equipment, biological and chemical reagents are primarily used for the diagnosis of diseases.
  
Dental
The Dental Subsector includes medical devices that diagnose and treat dental disorders, as well as restore proper function and appearance of teeth and gums.
  
Drug Delivery
The Drug Delivery Subsector includes medical devices that facilitate the delivery of medications through different anatomical entryways, including blood vessels, skin, the mouth, and the lungs. Common devices in this sector include vascular access catheters, needles, implants, and inhalers.
  
General Surgery
The General Surgery Subsector includes medical devices that perform general, non-specialty surgeries; these devices are often general in scope and are used in procedures involving various parts of the body.
  
Medical Supplies
The Medical Supplies Subsector includes basic and consumable products that are widely used in healthcare settings.
  
Neonatology
The Neonatology Subsector includes medical devices that diagnose, monitor and treat diseases of newborns.
  
Oncology
The Oncology Subsector includes medical devices that detect and treat cancers.
  
Orthopedics
The Orthopedics Subsector includes medical devices that diagnose and treat musculoskeletal diseases involving muscles, bones and joints.
  
Respiratory
The Respiratory Subsector includes medical devices that diagnose and treat respiratory diseases.
  
Urology
The Urology Subsector includes medical that diagnose and treat urinary tract and male reproductive disorders.
  
Vascular
The Vascular Subsector includes medical devices that diagnose and treat of conditions affecting the blood vessels.
  

- Focused. Denotes that the company is considered focused in this area. In general, Focused Companies draw the majority of their earnings in the sector/product area specified.

- Sector Pure-Plays. Denotes that the company is focused in the selected sector and generates nearly all earnings in the sector/product area specified.

- Sector Participation. Denotes that the company develops products in this line of business.

Product Details

Sector Buyer Target
Healthcare
Biopharmaceuticals  
Infectious Diseases  
Bacterial  
Antibacterial Agents  
Broad Spectrum  
Antiseptic Agents
Therapeutics that prevent bacterial infection by inhibiting the growth and development of microorganisms without necessarily killing them.

Target Products:

  • ChloraPrep
  
Surgery  
General  
Bacterial Infections  
Antiseptic Agents
Therapeutics that are used to prevent the spread of microorganism in pre-surgical skin infections due to bacteria.

Target Products:

  • ChloraPrep
  
Medical Devices
Anesthesiology
Surgical
General Procedure  
Delivery Systems  
Percutaneous (Subcutaneous/Intramuscular/Intravenous)  
Pumps/Systems
Devices used to pump intravenous fluids at a consistent programmed rate.

Buyer Products:

  • Palm Pump Pain Management System
  
Procedure/Region Specific  
Delivery Systems  
Epidural
Devices used to inject anesthetic into the epidural space to numb the legs and abdomen, which include catheters, needles, syrninges and other prepackaged kits.

Target Products:

  • FlexTip Plus/TheraCath Epidural Kit
  • Epidural Needle Series
  • 7cc Luer Slip Loss of Resistance Syringe
  • Single Shot Epidural Anesthesia Kit
  
Nerve Block
Devices used to assist in the delivery of nerve block anesthetic, which include catheters, needles and other prepackaged kits.

Target Products:

  • StimuCath
  • StimuQuick
  
Cardiology  
Diagnostic  
Imaging  
X-Ray  
Angiography  
Accessories
Various instruments used to assist in angiography procedures, including transducers, catheters, control syringes, waste systems, contrast management systems, fluid administration sets, and other related items.

Target Products:

  • Balloon/Double-Lumen Balloon Wedge-Pressure Catheters
  • Berman Angiographic/Reverse Berman Balloon Catheter Series
  
Monitoring  
Accessories  
Blood Pressure  
Invasive Blood Pressure Cuffs
Monitoring accessories that require contact with the blood and blood vessels to obtain an accurate blood pressure reading, such as domes and transducers.

Target Products:

  • Wedge Pressure Products
  • VitaCuff Products
  
Output Sensors
Instruments that measure various cardiac outputs, such as blood velocity and pressure. Examples of sensors include bioimpedence, hemodynamic and thermodilution catheters.

Target Products:

  • Balloon/HANDS OFF Thermodilution Catheter Series
  • HemoSonic 100 Probe
  
Monitors  
Cardiac Output
Instrument that measures the blood flow pumped out of the heart.

Target Products:

  • HemoSonic 100
  • Cardiac Output Computer
  
Surgical  
General Procedure  
Accessories  
Access  
Arterial
Instruments used to gain access to the heart's arteries, including aortic pouches, introducer needles, introducers and vessel dilators.

Target Products:

  • Arrow-Fischell EVAN Vascular Access
  • Super Arrow-Flex Sheath Introducer Series
  • Percutaneous Sheath Introducer
  • Spring-Wire Guide Introducer
  
Guidewires
A small wire-like device that is threaded through a catheter to the site of interest for delivery of another apparatus like a stent.

Target Products:

  • Radial Artery Catheterization Kit
  
Procedure/Region Specific  
Arrhythmia  
Electrophysiology  
Chamber Mapping Systems  
Catheters
Long slender wire-like devices with multiple electrodes on the end that gets inserted into the heart chamber for electrophysiological studies and chamber mapping.

Target Products:

  • QuadPolar Electrode Catheter Series
  • Decapolar/Hexapolar Electrode Catheters Series
  
Pacing Catheters
Catheter that is capable of regulating the electrical stimulation rhythm of the heart.

Target Products:

  • Multi-Polar Electrode Catheter Series
  • HANDS-OFF Balloon Pacing Catheter
  • Bipolar Pacing Catheter
  • Balloon Pacing Catheter Series
  • QuadPolar Electrode Catheter Series
  
Cardiac Output Assist  
Intra-Aortic Balloon Pump (IABP)  
Accessories
Various instruments used to assist intra aortic balloon pump surgery, such as catheter kits and introducers.

Target Products:

  • Ultra 8
  • Hemostasis Sheath Introducer
  • RediGaurd Series
  • NarrowFlex Series
  • UltraFlex Flexible Series
  • Universal Series
  • LightWAVE Series
  
Systems
Complete set of instruments used to perform intra aortic balloon pump surgery.

Target Products:

  • KAAT II Plus
  • AutoCAT 2 Series
  • ACAT 1 Plus
  • TransAct
  
Ventricular Assist Device (VAD)  
Left Ventricular (LVAS)  
Implantable
A device that can be encased in the body cavity and provides the pumping force for the left ventricle of the heart.

Target Products:

  • CorAide
  
Revascularization  
Atherectomy  
Rotational Systems
Complete set of instruments used to perform catheter based rotational blade atherectomy.

Target Products:

  • Arrow-Fischell Pullback Atherectomy Catheter
  
Clinical Diagnostics  
Specimen Collection  
Blood  
Arterial  
ABG Collection Kits
Collection devices used to collect arterial blood samples.

Target Products:

  • QuickFlash Kits
  • Arterial/Venous Catheterization Kits
  • Femoral Artery Catheterization Set
  
Body Fluids  
Paracentesis Kits
Kits used in the collection of paracentesis fluid.

Target Products:

  • Large Volume Abdominal
  • Peritoneal Lavage Kit
  
Thoracentesis Kits
Catheters/thin tubes used to collect samples of fluid in the thoracic fluid for diagnostic and therapeutic purposes

Target Products:

  • Arrow-Clarke Pleura-Seal Thoracentesis Kit
  
Dental  
Surgical  
Endodontic  
Irrigation Probes
Probes which provide irrigation during endodontic surgery

Buyer Products:

  • Zimmer Dental Fixation Clips For Tubing Set
  • Zimmer Dental Irrigation Accessories And Tubing Sets
  
General  
Instruments  
Electrical  
General Surgical Tools
Devices used to perform general dental surgical procedures, including drills, dryers, composite curing, motors/handpieces, inserts/attachments and other similar items.

Buyer Products:

  • Zimmer Dental Contra-Angles And Handpieces With Irrigation
  • Zimmer Dental Micromotors And Accessories
  • Zimmer Dental Navigator Drills
  • Zimmer Dental CBM System
  • Zimmer Dental Microprocessor Controlled Brushless Micromotor
  • Zimmer Dental Bio-Vent Finishing Drills
  • Zimmer Dental Titanium Fixture Mount Drill
  • Zimmer Dental Twist Tri-Spade Drills Series
  • Zimmer Dental AdVent CounterSink Drill
  
Manual Instruments
Manual instruments used during dental surgical procedures, including wrenches, drivers, applicators, forceps, knives, pliers and other similar items.

Buyer Products:

  • Zimmer Dental Taper Screw-Series
  • Zimmer Dental Screw-Vent Series
  • Zimmer Dental Spline Series
  • Zimmer Dental SwissPlus Series
  • Zimmer Dental Advent Series
  • Zimmer Dental Navigator Series
  
Treatment  
General  
Hemostatic Sponges
Dressings used during dental procedures.

Buyer Products:

  • Zimmer Dental CollaCote
  • Zimmer Dental CollaTape
  • Zimmer Dental CollaPlug
  
Restorative  
Accessories  
Implant Impression Components
Devices used to create an impression or mold to size implants, including impression posts, analogs, and materials.

Buyer Products:

  • Zimmer Dental Impression Post Retaining Screw
  • Zimmer Dental Narrow Impression Post
  • Zimmer Dental Short Impression Post
  • Zimmer Dental Standard Impression Post
  • Zimmer Dental Implant Body Analog
  
Guided Tissue Regeneration  
Bone/Soft Tissue Grafts
Grafts of soft tissue or bone which enhance the repair and regeneration of patient tissue.

Buyer Products:

  • Zimmer Dental Puros Allograft
  
Membranes
Membranes which enhance the repair and regeneration of patient tissue.

Buyer Products:

  • Zimmer Dental Biomend/ Biomend Extend
  
Implants  
Abutments
Devices used to support or replace missing teeth.

Buyer Products:

  • Zimmer Dental Tapered Screw-Vent Abutments Series
  • Zimmer Dental Advent Abutments Series
  • Zimmer Dental Screw-Vent Abutments Series
  • Zimmer Dental Atlantis Abutments
  • Zimmer Dental Spline Abutment Series
  • Zimmer Dental SwissPlus Abutment Series
  • Zimmer Dental SwissPlus "Cast-To" Gold & Plastic Copings
  • Zimmer Dental Taper-Lock Abutments Series
  • Zimmer Dental Bio-Vent Abutments Series
  • Zimmer Dental Micro-Vent Abutments Series
  
Gingival Cuffs
Cuff like devices which are placed around dental implants which promote healing of the tissue.

Buyer Products:

  • Zimmer Dental Temporary/ Narrow Temporary Gingival Cuffs
  • Zimmer Dental AdVent Implant Extender/Healing Cuff
  
Healing Screws
Screws used during the placement of implants which promote healing.

Buyer Products:

  • Zimmer Dental Titanium Healing Collars
  • Zimmer Dental Surgical Cover Screws
  • Zimmer Dental AdVent Flared/Flat Surgical Cover Screw
  
Implant Bodies (Anchors)
Anchors which are surgically attached to the jaw bone. Implants are then attached to these.

Buyer Products:

  • Zimmer Dental Taper-Lock Implants Series
  • Zimmer Dental Spline TwistMax Series
  • Zimmer Dental MP-1 HA Dual Transition Selective Surface Implants
  • Zimmer Dental Tapered SwissPlus Implants MTX
  • Zimmer Dental Straight SwissPlus Implants MTX
  • Zimmer Dental Tapered Screw-Vent Implants Series
  • Zimmer Dental Spline Twist Series
  • Zimmer Dental Spline MP-1 Cylinder Implants
  • Zimmer Dental Screw-Vent Implants Series
  • Zimmer Dental AdVent MTX Implants
  
Drug Delivery  
Infusion Therapy  
Accessories  
Needleless Fluid Administration/Extension Sets
Valve systems designed to work without needles to prevent patient injuries.

Target Products:

  • UserGard Needle-Free Injection Cap System
  
Delivery Systems  
Pumps  
Subcutaneous
Pump placed under the skin of the patient receiving infusion therapy.

Target Products:

  • Arrow Model 3000 Constant Flow Pump
  
Integrated/Comprehensive Systems
Complete infusion systems that include pumps, monitoring devices and other accessories.

Target Products:

  • Emergency Infusion Device- EID
  • RIC Rapid Infusion Catheter Exchange Set
  
Vascular Access  
Extended In Dwelling Catheters  
Central Venous Catheters (CVC)
Catheters designed to handle high volume flow.

Target Products:

  • Arrowgard Blue Series
  • HANDS OFF Central Venous Series
  • Maximal Barrier Precautions Tray
  
Introducers
Medical devices designed for introducing vascular access.

Target Products:

  • Arrow Simplicity Micro-Puncture Introducer Set
  • Raulerson Syringe
  
Kits
Kits containing necessary components for gaining vascular access, such as midline catheters, peripherally inserted central catheters, central venous catheters, and associated repair instruments.

Target Products:

  • Super Arrow-Flex
  • Peripherally Inserted Midline Catheter Kit Series
  • EID/Peripheral EID Catheter Kit
  • Arrow-Howes
  • Single-Lumen ARROWgard Blue
  • Multi-Lumen Pediatric Kit Series
  
Midline Catheters
Central venous catheter set designed for midline venous access.

Target Products:

  • Arrow Midline Catheter Series
  
Peripherally Inserted Central Catheters (PICC)
Central venous catheter set designed for peripheral venous access.

Target Products:

  • Arrow PICC Series
  
Peripheral Intravenous Catheters  
Infusion Sets
Complete infusion sets containing peripheral intravenous catheters.

Target Products:

  • TwinCath Two-Lumen Peripheral Catheter
  • Rapid Infusion Catheter (RIC)
  
Ported
Peripheral intravenous catheters that have ports for access and to attach other devices such as infusion pumps.

Target Products:

  • Blue FlexTip Catheter/Port Systems
  
Safety Catheters
Catheters designed to protect healthcare workers from accidental needle punctures.

Target Products:

  • StatLock Products
  
Subcutaneous Implants  
Accessories  
Port Access
Devices that permit port introduction allowing controlled vascular access.

Target Products:

  • A2Port With Introducer Kit
  
Ports
Implanted devices that allow controlled vascular access.

Target Products:

  • Blue FlexTip Catheter/Port Systems
  • A/A2-Port Series
  • Low Profile Port/B-Port
  
General Surgery  
Invasive  
Accessories  
Drainage
Medical instruments used to provide drainage in the surgical area, including access kits, catheters, evacuator kits and reservoirs.

Target Products:

  • Blue FlexTip Percutaneous Cavity Drainage Kits
  
Guidewires
Guidewires used to lead other medical devices into place during surgical procedures

Target Products:

  • Spring-Wire Guides
  
Instruments  
Manual Instruments
Medical devices used manually by surgeons to perform invasive general surgical procedures, such as scalpels, curettes, dissectors, elevators, forceps, osteotomes, retractors, bissectors and other similar items.

Target Products:

  • Catheter Clamps
  • I.V. Tubing Products
  
Procedure/Region Specific  
Cholecystectomy  
Cholangiography  
Needles
Needles used to assist in cholangiography.

Target Products:

  • Port Non-Coring/Corning/Port-Winged Needles
  • Introducer Needles
  
Minimally Invasive  
Procedure/Region Specific  
Cholecystectomy  
Cholangiography
Devices used to perform minimally invasive procedures involving the biliary system, including catheter kits and other endoscopic instruments.

Target Products:

  • Arrow-Karlan
  • Arrow Percutaneous
  • Laparoscopic Cholangiography Balloon Catheter
  
Medical Supplies  
Surgical  
Surgical Preparatory Accessories
Ancillary products designed to clean, prepare and organize surgical instruments and procedures, such as brushes, wipes, cleaners, instrument holders, guards/covers, drapes and other similar items.

Buyer Products:

  • Zimmer Dental Aseptic Surgical Drapes Kit
  
Treatment  
Wound Management/First Aid  
Drainage/Hydration
Medical devices designed to irrigate, moisturize and remove excess fluids from wounds and wound surface.

Buyer Products:

  • Pulsavac Plus Wound Debridement System
  
Neonatology  
Surgical  
Accessories  
Drainage Catheters
Long slender wire-like tube device that gains access to internal compartments of a newborn and allows fluid to exit through it.

Target Products:

  • NeoCare
  
Treatment  
Feeding Tubes
A pipe-like instrument that allows food to enter the newborn's stomach.

Target Products:

  • NeoCare
  
Urinary Drainage  
Systems
Complete set of instruments to remove the urine in a newborn's bladder.

Target Products:

  • NeoCare
  
Vascular Access  
Umbilical Vessel Catheters
Long slender wire-like tube device that proceeds down the umbilical cord to provide access to the inside of the newborn.

Target Products:

  • NeoCare
  
Oncology  
Surgical  
Biopsy  
Region Specific  
Liver
Instruments used to obtain biopsy sample from the liver system.

Target Products:

  • Liver Biopsy Kit
  
Orthopedics  
Surgical  
General Procedure  
Minimally Invasive/Arthroscopic  
Instruments  
Instrument Systems
Orthopedic instruments used for arthroscopic surgical procedures usually sold as a package.

Buyer Products:

  • Zimmer BRIGIT Bone Resection Instrument Guide
  • ECT Internal Fracture Fixation Set
  
Procedure Specific  
Fixation  
Bone  
External  
General
External fixation devices that can be used to fix a variety of fractures.

Buyer Products:

  • Wristore Distal Radius Fracture Fixator
  • TransFx 2 External Fixation System
  
Internal  
Absorbable  
Specific  
Knee
Internal absorbable fixation device used to immobilize knee fractures.

Buyer Products:

  • Zimmer Orthopedics Sysorb Screw System
  
Metallic  
General
Internal metallic fixation devices or systems that can be used to immobilize various types of bone fractures.

Buyer Products:

  • Cable-Ready Cable Grip System
  • Pins/Wires/Drills
  • Universal Locking System
  • Periarticular Plating System
  • Mini Magna-Fx Cannulated crew Fixation System
  • Magna-Fx Cannulated Screw Fixation System
  • ECT Internal Fracture Fixation System
  
Specific  
Hip/Femur
Internal metallic fixation devices used to immobilize hip or femur fractures.

Buyer Products:

  • Zimmer Orthopedics Sirus Intramedullary Nails System
  • Versa-Fx II Fixation System
  • M/DN Intramedullary Fixation
  
Spine
Internal metallic fixation devices used to immobilize spine fractures.

Buyer Products:

  • Zimmer Spine Trinica Anterior/ Select Anterior Cervical Plate System
  • Zimmer Spine Silhouette Spinal Fixation System
  • Zimmer Spine DYNESYS
  • Zimmer Spine ST360 Degrees Spinal Fixation System
  • Trinica Anterior Lumbar Plate (ALP) System
  
Tibia/Fibula
Internal fixation devices designed for the tibia/fibula bones.

Buyer Products:

  • M/DN Intramedullary Fixation
  • Zimmer Orthopedics Sirus Intramedullary Nails System
  
Soft Tissue  
Anchors/Screws  
Absorbable  
General
Absorbable anchors/screws used to attach soft tissue to the bone in a variety of regions.

Buyer Products:

  • Zimmer Collagen Repair Patch
  • Bio-Statak Resorbable Soft Tissue Attachment Device
  
Metallic  
General
Metal devices used to attach soft tissue to the bone in a variety of regions.

Buyer Products:

  • Statak Soft Tissue Attachment Device
  
Joint Replacement/Reconstruction  
Accessories  
Allografts  
Bone
Bone obtained from cadavers to compensate for excessive bone removal.

Buyer Products:

  • Zimmer Spine Puros Accugraft
  
Cartilage
Tissue obtained from cadavers to compensate for excessive tissue removal.

Buyer Products:

  • DeNovo ET Engineered Tissue Graft
  
Xenografts
Surgical grafts produced from non-human biological material, often used to compensate for excessive bone or tissue removal.

Buyer Products:

  • Prolong Highly Crosslinked Polyethylene Articular Surfaces
  • DeNovo ET Tissue Graft
  
Elbow  
Total Elbow Systems
Devices used to replace the entire ankle joint.

Buyer Products:

  • Coonrad/Morrey Total Elbow
  
Hip  
Hemi-Arthroplasty  
Acetabular  
Bipolar
Devices designed to replace both acetabulum.

Buyer Products:

  • Zimmer Orthopedics Converge Porous Acetabular System
  
Unipolar
Devices designed to replace one acetabulum.

Buyer Products:

  • VerSys Acetabular Components
  
Femoral
Devices used to replace the ball in the hip joint.

Buyer Products:

  • Zimmer Orthopedics Apollo Hip System
  • Zimmer Orthopedics FracSure Hip System
  • Zimmer Orthopedics CLS Hip Stem
  • Zimmer Orthopedics APR Hip Family
  • Zimmer Orthopedics Alloclassic
  • Zimmer Orthopedics Natural Hip Family
  • Zimmer Orthopedics MS-30 Family
  • VerSys Femoral Heads
  
Instrument Systems
Instruments used to facilitate either product insertion or removal.

Buyer Products:

  • Pressure Sentinel Intramedullary Reaming System
  • Zimmer Orthopedics Swiss OrthoClast
  • Zimmer Orthopedics Navitrack
  
Revision Systems  
Acetabular
Devices used to revise the socket in a previously replaced hip joint.

Buyer Products:

  • VerSys Cemented Revision/Calcar (CRC) Hip Prosthesis
  • Zimmer Orthopedics Rings And Cage
  • Zimmer Orthopedics Allofit Acetabular Cup System
  • Trilogy Acetabular System
  • ZMR Hip System
  • Zimmer Orthopedics Converge Porous Acetabular System
  • Trilogy AB Acetabular System
  • VerSys Acetabular Components
  • Zimmer Orthopedics Cemented Cup Family
  
Femoral
Devices used to revise the ball in a previously replaced hip joint.

Buyer Products:

  • Zimmer Orthopedics SL-Revision Family
  • Zimmer Orthopedics Precedent Revision Hip
  • Zimmer Orthopedics Natural Hip Family
  • Zimmer Orthopedics MOST Options System
  • Zimmer Orthopedics Alloclassic
  • VerSys Femoral Heads
  
Total Hip Replacement Systems
Devices used to replace the entire hip joint.

Buyer Products:

  • VerSys Heritage Hip Prosthesis
  • VerSys Hip System Series
  • Zimmer M/L Taper Hip Prosthesis
  • VerSys Advocate Hip Prosthesis
  • MAYO Conservative Hip Prosthesis
  • EPOCH Hip Prosthesis
  • CPT Hip System
  • Zimmer Orthopedics Metasul
  • Zimmer Orthopedics Allofit Acetabular Cup System
  • Durom Acetabular Component
  
Knee  
Instrument Systems
Instruments used to facilitate either product insertion or removal.

Buyer Products:

  • Zimmer Orthopedics Natural-Knee Unicompartmental System MIS Instrumentation
  • MICRO-MILL Instrumentation System/5-in-1
  • NexGen Intramedullary Instrumentation System
  • NexGen Complete Knee Solution Revision Instruments
  • Multi-ReferenceTM 4-in-1 Femoral Instrumentation
  • MICRO-MILL Handpiece
  • V-STAT Variable Soft Tissue Alignment Tensor
  
Revision Systems
Devices used to revise a previously implanted knee replacement.

Buyer Products:

  • Zimmer Orthopedics Natural-Knee Revisions System
  • Zimmer Orthopedics MOST Options System
  • Zimmer Orthopedics Apollo Knee System Revision/Constrained System
  • NexGen Rotating Hinge Knee
  • NexGen Revision Knee Series
  • NexGen Legacy LCCK Femoral Component
  
Total Knee Replacement Systems
Devices used to replace the entire knee joint.

Buyer Products:

  • Zimmer Orthopedics Natural-Knee Family
  • NexGen LPS-Flex Mobile Knee
  
Unicompartmental Replacement
Devices used to replace a portion of the knee joint as opposed to a total knee replacement.

Buyer Products:

  • Zimmer Orthopedics UniSpacer System
  • NexGen Minimally Invasive Solutions Tibial Component
  • Zimmer Gender Solutions Natural-Knee Flex System
  • Zimmer Orthopedics Natural-Knee Unicompartmental System
  • NexGen CRA Femoral Component
  • NexGen Legacy LCCK Femoral Component
  • M/G Unicompartmental Knee System
  • NexGen CR-Flex Fixed Bearing Knee
  • NexGen Legacy LPS-Flex Fixed Bearing Knee
  • Zimmer Orthopedics Collagen Meniscus Implants
  • NexGen Legacy LPS Femoral Component
  
Shoulder  
Hemi-Arthroplasty  
Glenoid
Devices used to replace the smooth and shallow depression of the shoulder or glenoid area.

Buyer Products:

  • Zimmer Orthopedics Anatomical Shoulder
  
Humeral Component
Devices used to replace the humeral component of the shoulder.

Buyer Products:

  • Zimmer Orthopedics Anatomical Shoulder
  
Humeral Head
Devices used to replace the humeral component of the shoulder.

Buyer Products:

  • Zimmer Orthopedics Anatomical Shoulder
  
Total Shoulder Replacement Systems
Devices used to replace the entire shoulder joint.

Buyer Products:

  • Zimmer Orthopedics Anatomical Shoulder
  • Zimmer Orthopedics Select Shoulder System
  • Bigliani/Flatow The Complete Shoulder Solution
  
Spine  
Instrument Systems
Instruments used to facilitate either product insertion or removal.

Buyer Products:

  • BAK Anterior Interbody Fusion
  • BAK Posterior Interbody Fusion
  • Zimmer Spine Cervi-Lok Cervical Fixation System
  • Zimmer Spine POLAr Posterior Oblique Lumbar Arthrodesis Instrument Set
  • Zimmer Spine Jaws Bone Graft Cutting Jig
  
Spinal Implants  
Spinal Fusions
Devices used to fuse together two or more vertebrae in the spine.

Buyer Products:

  • Zimmer Spine BAK/L Series
  • Zimmer Spine BAK/Proximity Series
  • Zimmer Spine BP/Lordotic Interbody Fusion Device
  • Zimmer Spine Silhouette Spinal Fixation System
  • Zimmer Spine BAK/C Cervical Interbody Fusion System
  
Respiratory  
Treatment  
Pneumothorax Catheter Kits
Thin tubes designed to be inserted into the lungs to correct pneumothorax (collapsed lung).

Target Products:

  • Pneumothorax Kit
  
Urology  
Surgical  
Procedure/Region Specific  
Percutaneous  
Nephrostomy  
Drainage Instruments
Instruments used to remove waste fluid from the kidney, such as catheters, malecots, pezzers, nephrostomy tubes and other similar items.

Target Products:

  • Blue FlexTip Percutaneous Cavity Drainage Kits
  
Treatment  
Renal  
Hemodialysis  
Components  
Access Graft Thrombolysis
Device used to plug up the hole in the access vein used for hemodialysis.

Target Products:

  • Arrow-Trerotola Percutaneous Thrombolytic Device (PTD)
  
Catheters  
Central Venous Access (CVA)
Catheter that gains access to a major vein.

Target Products:

  • Pressure Injectable PICC Kit
  • Pediatric Catheter Series
  • You-Bend Two-Lumen Hemodialysis
  
Sets
Complete set of catheter instruments used to gain access to internal blood vessels for hemodialysis.

Target Products:

  • Arrow Cannon Connector Assembly Replacement Set
  
Vascular  
Diagnostic  
Imaging  
X-Ray  
Angiography  
Accessories
Various instruments used to assist in angiography procedures, including transducers, catheters, control syringes, waste systems, contrast management systems, fluid administration sets, and other related items.

Target Products:

  • Berman Angiographic/Reverse Berman Balloon Catheter Series
  
Surgical  
General Procedure  
Accessories  
Introducer Needles
Devices which provide access to the vascular system for introduction of introducers.

Target Products:

  • Arrow-Fischell EVAN Vascular Access
  
Introducers
Devices used to provide percutaneous introduction of catheters, interventional devices, and temporary pacing leads into the vasculature.

Target Products:

  • Arrow Simplicity Micro-Puncture Introducer Set
  • Percutaneous Sheath Introducer
  • Super Arrow-Flex Sheath Introducer Series
  

- Focused. Denotes that the company is considered focused in this area. In general, Focused Companies draw the majority of their earnings in the sector/product area specified.

- Sector Pure-Plays. Denotes that the company is focused in the selected sector and generates nearly all earnings in the sector/product area specified.

- Sector Participation. Denotes that the company develops products in this line of business.

Relationship Details

Key Competitors

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Buyer
  Johnson & Johnson n/a 192,824.721 18.59 16.30 3.28 3.18 13.71
Medtronic, Inc. n/a 56,781.697 19.83 19.87 4.51 4.26 9.87
Stryker Corporation n/a 31,085.961 32.07 31.40 5.41 5.21 7.33
Kyocera Corporation (ADR) n/a 16,494.641 17.78 18.05 1.41 1.40 1.27
Smith & Nephew plc (ADR) n/a 10,352.740 29.75 22.72 3.26 3.15 36.84
ArthroCare Corporation n/a 1,352.332 36.71 32.30 4.48 4.23 6.74
Wright Medical Group, Inc. n/a 1,067.139 200.40 70.24 2.88 2.78 3.15
Orthofix International NV n/a 993.929 34.41 31.22 2.08 2.03 n/a
Osiris Therapeutics, Inc. n/a 366.834 0.00 -8.59 27.44 23.69 2,072.51
TranS1 Inc. n/a 321.904 0.00 -20.28 23.33 20.39 22.83
BioMimetic Therapeutics, Inc. n/a 316.309 0.00 -13.60 71.57 46.52 5.05
Exactech, Inc. n/a 237.718 29.61 26.44 2.03 1.96 2.98
Alphatec Holdings, Inc. n/a 236.449 0.00 -19.62 3.04 3.02 4.10
Lifecore Biomedical, Inc. n/a 185.654 23.67 23.98 2.64 2.45 2.18
Aastrom Biosciences, Inc. n/a 73.043 0.00 n/a 110.11 n/a 2.94
Straumann A.G. n/a n/a n/a n/a n/a n/a n/a
Mathys Ltd. Bettlach n/a n/a n/a n/a n/a n/a n/a
Medical Dynamic Marketing, Inc. n/a n/a n/a n/a n/a n/a n/a
Target
  Edwards Lifesciences Corp n/a 2,618.645 22.21 22.27 2.46 2.45 6.91
Datascope Corporation n/a 565.187 22.86 23.53 1.49 n/a 2.27
ABIOMED, Inc. n/a 504.118 0.00 -17.92 9.66 8.65 6.63
DURECT Corporation n/a 476.186 0.00 -18.79 16.12 15.24 20.05
AngioDynamics, Inc. n/a 456.654 0.00 32.74 3.53 2.60 3.32
Merit Medical Systems, Inc. n/a 389.380 27.99 27.50 1.91 1.89 2.73
Delcath Systems, Inc. n/a 43.446 0.00 n/a n/a n/a 2.92

- Defined by the Company - Defined by Others

Dependent Suppliers

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Buyer
  Tutogen Medical, Inc. 54.00% 204.233 30.22 47.26 3.79 3.16 5.06
Symmetry Medical Inc. 12.20% 618.335 38.09 26.95 2.41 2.12 5.89
Kensey Nash Corporation n/a 366.313 184.84 37.29 5.17 4.62 3.36
Regeneration Technologies, Inc. n/a 262.635 0.00 293.67 2.99 2.83 2.51
HealthStream, Inc. n/a 71.882 31.40 35.11 1.77 1.60 44.15
Atlantis Components, Inc. n/a n/a n/a n/a n/a n/a n/a
Revivicor, Inc. n/a n/a n/a n/a n/a n/a n/a
Target
  Kilroy Realty Corporation n/a 1,725.452 36.11 16.96 6.63 6.55 2.69
QAD Inc. n/a 306.646 70.88 58.12 1.21 1.19 7.42
Enturia, Inc. n/a n/a n/a n/a n/a n/a n/a

- Defined by the Company - Defined by Others

Key Customers

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Buyer
  VHA, Inc. 32.00% n/a n/a n/a n/a n/a n/a
Premier, Inc. 16.00% n/a n/a n/a n/a n/a n/a
HealthTrust Purchasing Group 8.00% n/a n/a n/a n/a n/a n/a
Cynosure, Inc. n/a 326.326 30.39 24.86 2.91 2.73 3.01
HCA Inc. n/a n/a n/a n/a n/a n/a n/a

- Defined by the Company - Defined by Others

Key Partners

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Buyer
  Integra LifeSciences Holdings Corp. n/a 1,119.902 29.30 27.06 2.16 2.07 n/a
Cynosure, Inc. n/a 326.326 30.39 24.86 2.91 2.73 3.01
Regeneration Technologies, Inc. n/a 262.635 0.00 293.67 2.99 2.83 2.51
Tutogen Medical, Inc. n/a 204.233 30.22 47.26 3.79 3.16 5.06
Revivicor, Inc. n/a n/a n/a n/a n/a n/a n/a
Atlantis Components, Inc. n/a n/a n/a n/a n/a n/a n/a
Premier, Inc. n/a n/a n/a n/a n/a n/a n/a
Heraeus Holding GmbH n/a n/a n/a n/a n/a n/a n/a
Isto Technologies, Inc. n/a n/a n/a n/a n/a n/a n/a
Target
  King Pharmaceuticals, Inc. n/a 2,512.792 14.19 5.36 1.19 1.18 1.68
Enturia, Inc. n/a n/a n/a n/a n/a n/a n/a
The Cleveland Clinic Foundation n/a n/a n/a n/a n/a n/a n/a
Kimal PLC n/a n/a n/a n/a n/a n/a n/a

- Defined by the Company - Defined by Others

Financials

  Buyer Target Combined Entity
Income Statement
Operating Items
Revenue 3,757.6 508.0 4,265.6
Other Revenue 0.0 0.0 0.0
Total Revenue 3,757.6 508.0 4,265.6
Cost of Revenue 829.5 252.1 1,081.6
SG&A Expense 1,434.1 136.9 1,571.0
Depreciation & Amortization 0.0 0.0 0.0
Research & Development 204.4 27.2 231.6
Interest Expense 0.0 0.0 0.0
Other Operating Expense 0.0 0.0 0.0
Unusual Expense (Income) 175.6 1.8 177.4
Total Expenses 2,643.6 418.0 3,061.6
Operating Income 1,114.0 90.0 1,204.0
Non Operating Items
Interest Expense (Inc.), Net Non-Oprtng 4.4 4.7 9.1
Other, Net 0.0 -1.6 -1.6
Income Before Taxes 1,118.4 93.1 1,211.5
Income Taxes 363.9 32.0 395.9
Income After Taxes 754.5 61.1 815.6
Minority Interest (IS) -0.4 0.0 -0.4
Net Income - Excl. Xord. Items 754.1 61.1 815.2
Net Income - Incl. Xord. Items 754.1 61.1 815.2
Income Avail. to Common 754.1 61.1 815.2
Share Items
Basic Avg. Shares Outstanding 234.9 45.2 280.1
Basic EPS - Excl. Xord. Items 3.21 1.35 2.91
Basic EPS - Incl. Xord. Items 3.21 1.35 2.91
Full Dilution Adjustment 0.0 0.0 0.0
Fully Diluted Shares Outstanding 236.8 45.7 282.5
F.D. EPS - Excl. Xord. Items 3.18 1.34 2.89
F.D. EPS - Incl. Xord. Items 3.18 1.34 2.89
Dividends Per Common Share 0.00 0.76 0.76
Balance Sheet
Assets
Cash and Equivalents 313.0 160.2 473.2
ST Investments 0.0 13.2 13.2
Accounts Receivable 652.1 104.8 756.9
Inventory 732.2 114.0 846.2
Prepayments and Advances 54.5 13.5 68.0
Other Current Assets 148.1 12.5 160.6
Current Assets 1,899.9 418.1 2,318.0
PPE 1,888.8 382.7 2,271.5
Accum D&A -974.8 -201.6 -1,176.4
PPE, Net 914.0 181.1 1,095.1
Goodwill & Intangibles 3,298.7 83.8 3,382.5
Other Assets 0.0 0.0 0.0
Other LT Assets 254.6 43.3 297.9
Total Assets 6,367.2 726.2 7,093.4
Liabilities
Accounts Payable 129.0 19.0 148.0
Payable/Accrued 0.0 0.0 0.0
Accrued Expenses 0.0 38.8 38.8
ST Debt 0.0 63.9 63.9
Curr Port of LTD & Cap Lease Oblg 0.0 1.0 1.0
Other (Current) Liabilities 578.3 15.7 594.0
Current Liab. 707.3 138.4 845.7
LT Debt 103.2 0.0 103.2
Total LT Debt 103.2 0.0 103.2
Minority Interest (BS) 2.5 0.0 2.5
Deferred Taxes 0.0 11.4 11.4
Other LT Liab. 301.0 20.2 321.2
Total Liabilities 1,114.0 169.9 1,283.9
Shareholders Equity
Common Stock 2.5 45.7 48.2
Additional Paid in Capital 2,976.2 45.0 3,021.2
Retained Earnings 3,273.1 502.4 3,775.5
Treasure Stock -1,263.5 -50.7 -1,314.2
Other Equity 264.9 13.9 278.8
Total Equity 5,253.2 556.3 5,809.5
Total Liab. & Equity 6,367.2 726.2 7,093.4
Shares Outstanding 234.4 45.3 279.7
Cash Flow
Operating Cash Flow
CF Net Income 754.1 61.1 815.2
CF Depreciation 220.2 20.7 240.9
CF Amortization 0.0 7.7 7.7
CF Deferred Taxes 0.0 0.5 0.5
Other Non-Cash Items 88.1 7.7 95.8
Change in Working Capital -152.8 -7.9 -160.7
Total Cash From Operating Activities 909.6 89.8 999.4
Investing Cash Flow (not calculated)
Capital Expenditures -314.9 -31.2 -346.1
Other Investing Cash Flows -129.5 -14.9 -144.4
Total Cash From Investing Activities -444.4 -46.1 -490.5
Financing Cash Flow (not calculated)
Dividends Paid 0.0 -32.4 -32.4
Purchase Or Sale of Stock -466.8 7.4 -459.4
Purchase and Retirement of Debt 0.0 9.0 9.0
Other Financing Cash Flow 30.8 0.2 31.0
Total Cash From Financing Activities -436.0 -15.8 -451.8
Exchange Rate Effects 8.2 1.4 9.6
Net Change in Cash 37.4 29.4 66.8
Cash Taxes Paid 257.6 32.3 289.9
Cash Interest Paid 5.8 0.8 6.6