Synthes-Stratec sells European prosthetics business
The Basel-based medical technology company, Synthes-Stratec, has sold its European prosthetics unit to Biomet Merck.
This content was published on October 29, 2001 - 14:21Announcing the deal, Synthes-Stratec, said it wanted to concentrate on its core business of osteosynthesis. The sale price was not announced.
The transaction goes through on November 26 and affects around 150 employees in Oberdorf, Hägendorf and Mezzovico in canton Ticino. A spokesman for Synthes-Stratec said a great number of the workers would be taken on by Biomet Merck and added there would be no redundancies.
Jobs will be cut at Oberdorf but will go though natural wastage and internal transfers. Those Swiss workers not taken on by Biomet Merck will be re-employed by Synthes-Stratec.
The osteosynthesis division had a sales revenue of SFr1.27 billion last year.
Biomet Merck is a joint venture between the American company, Biomet, and the German firm, Merck.
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