INSIDE INDIANA BUSINESS: Deal underscores Biomet legacy

2014-04-24T14:54:00Z INSIDE INDIANA BUSINESS: Deal underscores Biomet legacyGerry Dick Inside Indiana Business
April 24, 2014 2:54 pm  • 

The blockbuster Zimmer Holdings Inc.-Biomet Inc. deal marks the combination of two companies that helped make Warsaw the "Orthopedics Capital of the World." Biomet Inc. was established in 1977 and has grown into a global company with more than 10,000 employees, products in 90 countries and annual sales of more than $2.5 billion. The parent company had announced plans for an initial public offering. That application is being withdrawn as part of the acquisition.

OrthoWorx: Acquisition Raises State Profile

Shares of Warsaw-based Zimmer Holdings Inc. are up around 12 percent in early afternoon trading following this morning's announcement that it will acquire Biomet Inc. for more than $13 billion. The deal still needs regulatory approval, but should close in the first quarter of 2015. Biomet is also based in Warsaw and the headquarters for the combined company is expected to stay in the Kosciusko County community.

Committee Approves Multi-Million Dollar Projects

The State Budget Committee has approved more than $41 million in projects. They include a new conference center at the University of Southern Indiana and a student activities and events center at Indiana University East.

Indiana Native Among 'Most Influential'

A native Hoosier and current Indianapolis resident has been named one of TIME magazine's 100 Most Influential People in the World. John Green's novel "The Fault in Our Stars" has been adapted for a Hollywood feature film.

Notre Dame Details New Business Degrees

The University of Notre Dame has announced two new graduate degrees at the Mendoza College of Business. The Master of Science in Business Analytics and the Master of Science in Finance are set to begin in January.

Huntington Launching New Programs

Huntington University has announced three new graduate degrees. The programs are expected to begin this fall and involve Christian ministry.

'Boiler' Competition Finals Set

The finals of a Purdue University student startup competition are set for this week. The "Boiler" finalists include a cloud-based classroom, an app for buying and selling merchandise and a fundraising website.

BSU Study Examines Tablet Ownership

A new Ball State University study finds tablet ownership among college students has been declining slightly since 2012. The Institute for Mobile Media Research Director Michael Hanley says students are not embracing the technology as much as experts previously anticipated.

First Merchants Profit Rises

Muncie-based First Merchants Corp. is reporting first quarter net income of $13.6 million, up from $11 million during the same period in 2013. The company says the increase is due in part to new customers from its acquisition of Munster-based CFS Bancorp.

Susan Komen Details Central Indiana Grants

Susan G. Komen Central Indiana has announced nearly $850,000 in grants to area health organizations. The funding covers services from screenings and treatments to wigs and prosthetics.

Leading Index Remains Steady

The Indiana Business Research Center says the Leading Index for Indiana was unchanged in April, compared to the previous month. The center says gains in manufacturing and transportation measures were offset by other components that were unchanged or slightly lower.

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