Conmed Corp. announced Aug. 2 its acquisition of Biorez for $85 million. Conmed and Biorez are both key players in the orthopedics market, and the acquisition is expected to have a large financial impact, according to a report from Yahoo Finance.
Six key statistics on Conmed's acquisition according the report:
1. Biomez is expected to increase Conmed's gross margins, with an average margin of about 25 percent more in 2022.
2. Conmed stock's price target has been lowered from $127 to $123.
3. Comed's average debt following the acquisition is estimated to be five times its earnings or less.
4. Conmed expects the acquisition to add $1 million in revenue.
5. The deal is expected to be about 10 cents to 15 cents dilutive per share for both 2022 and 2023.
6. Conmed shares are up .74 percent to $98.29, as of Aug. 2.