Zimmer acquires Biomet for 13.3 Billion

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Heard Binder is getting over 55 million in the deal. Has anyone heard what Dave is getting. The c suite suits always win in mergers. Many will be cut in Warsaw and in the field. They are not telling the truth. When JNJ purchased Depuy ,many were told the same thing , then the bomb was dropped. Some were left standing and some were gone from both camps
 



Not surprised if Binder gets a big payday....that's typical for execs and anyone who would likely have a big equity share position. And whats wrong with that? How does D get a big windfall when he has no Biomet equity? He benefits from an increased Z valuation and a higher stock price. Anyone with Biomet stock/equity will get some payout.
 



Anonymous said:
Those of us that remember the centerpulse acquisition in 03 or Abbott spine will know that Zimmer favors their own designs to others. Biomet's portfolio won't get the same focus going forward. How does the same company tout two different brands of vit E poly? Ans: one gets ignored. The ZUK and the oxford might do okay because they're different enough from each other to both have value to different surgeons, but the Oxford won't get the singular focus it has enjoyed and won't be used as a door opener to the degree that it has in the past.

The total knee systems have a lot of overlap. They'll want to keep both sales forces around to service the same volume they always have. The warehouses will be combined and some distributors will lose out, but the average rep may do fine for several years. The real "savings" will come from 2 legal departments, purchasing, manufacturing, contracts, management from the director up, quality, sterilization, lab work etc.

Anything in the pipeline that is redundant will be re-evaluated with a new eye. Do I need a new baseplate for the vanguard or can I make a crossover poly to allow the use of persona femurs with vanguard baseplates. Hmmm this is fun. I probably don't need the new instrument set for the vanguard femurs that was being developed in response to the persona instruments so with these crossover polys. I could eliminate a few engineers with that change. And so on...
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Apparently you don't work for Zimmer or Biomet. Please stop posting stupid stuff
 



Anonymous said:
Apparently you don't work for Zimmer or Biomet. Please stop posting stupid stuff
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?? That was such an insightful response. Thanks for adding to the conversation. Said no one. As a recently departed Zimmer employee, I thought the previous poster's comments were spot on. Unless you are brand new or have been hiding under a rock, only a fool could not see this train barreling down the tracks again. "Synergies" = "cuts" in some form or fashion.
 



At the moment it seems that everything biomet is winning out. They have retention bonuses, and I have not heard that anyone at zimmer has one. The can keep their jobs without the same education that is required for current zimmer employees, and we even changed to their dress code. Zimmer employes are not winning in this buy out.
 



Anonymous said:
At the moment it seems that everything biomet is winning out. They have retention bonuses, and I have not heard that anyone at zimmer has one. The can keep their jobs without the same education that is required for current zimmer employees, and we even changed to their dress code. Zimmer employes are not winning in this buy out.
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Isn't their dress code more casual? I'd say that's a win for everyone. Feel free to where a suit and tie if you think that will help you. Any time I've visited Biomet I always wished I had the freedom to wear golf shorts and flip flops.
 



Anonymous said:
Isn't their dress code more casual? I'd say that's a win for everyone. Feel free to where a suit and tie if you think that will help you. Any time I've visited Biomet I always wished I had the freedom to wear golf shorts and flip flops.
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The Biomet rep dress code is the same as the Stryker (actually all companies including Zimmer) rep's dress code...wrinkled, dirty scrub's matching whatever hospital they are going to that day. Then they go hang out at Hooters all afternoon trying to impress the waitresses in their dirty scrubs while leaving paltry tips because the waitresses make more.
 



Anonymous said:
The Biomet rep dress code is the same as the Stryker (actually all companies including Zimmer) rep's dress code...wrinkled, dirty scrub's matching whatever hospital they are going to that day. Then they go hang out at Hooters all afternoon trying to impress the waitresses in their dirty scrubs while leaving paltry tips because the waitresses make more.
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i like to intentionally smear wing sauce into my scrubs at hooters, so when it dries and i go to the grocery store it looks like blood and people think i am a surgeon....
 



Morale at both organizations is miserable. No one knows what the future will bring so most think the worst is coming. Morale at Z has been a major, major problem for a long time. Biomet morale was high, everyone was working toward an IPO, which is now a lost dream. The cultures of each company are so completely different it will be difficult to pull this together. My friends who work at both companies seem to favor a shift to the Biomet model, it was incredibly successful for many years and resettled in their growth and success. Z's culture has been one of fear, depression, watching experienced long time employees being shown the door and did not motivate. Good luck to everyone who has to endure this process.
 



Anonymous said:
Morale at both organizations is miserable. No one knows what the future will bring so most think the worst is coming. Morale at Z has been a major, major problem for a long time. Biomet morale was high, everyone was working toward an IPO, which is now a lost dream. The cultures of each company are so completely different it will be difficult to pull this together. My friends who work at both companies seem to favor a shift to the Biomet model, it was incredibly successful for many years and resettled in their growth and success. Z's culture has been one of fear, depression, watching experienced long time employees being shown the door and did not motivate. Good luck to everyone who has to endure this process.
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Long time Z rep here and could not agree more with your post....All my colleagues are hoping that Biomet is running everything when the smoke clears.
 









Why would we follow the Z model when the Biomet model has so much better sales? We need to get rid of our current Z sales model and try to actually sell something, like Biomet does.
 



True, morale has been a big and growing (even festering) issue at z for a long time. Bringing in the whole GE regime only fanned the flames. It ushered in a culture of fear and cronyism. Add the fact that the CEO is a corp compliance atty and basically wrote the advamed guidelines, and why WOULDN'T people be afraid to think outside the box? The allowable "box" only keeps getting smaller too.
 






Anonymous said:
Why would we follow the Z model when the Biomet model has so much better sales? We need to get rid of our current Z sales model and try to actually sell something, like Biomet does.
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might help if the Zimmer distributors actually paid out some commissions instead of axing all their senior reps and hiring a bunch of kids to cover cases on salary.
 









What is happening to 3i? Everyone thinks since their numbers are good they'll be at Biomet forever. And they think if surgeons / DDS give them a recommendation no one will give them the pink slip. Seriously. They are very cocky.
 






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