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Warsaw-based Zimmer Holdings Inc. says its bid to buy a Canadian company was successful. The deal is expected to close in November.
The orthopedic manufacturer said it now holds more than 91 percent of Montreal-based ORTHOsoft Inc.’s shares. It extended its offer for the remaining shares to Oct. 26.
Zimmer agreed to acquire ORTHOsoft in August for $51.4 million. The company, which employs 81, specializes in computer navigation for orthopedic surgery.
Its 2006 revenues were $12 million.
Symmetry Medical Inc. has received international certification for a new plant in Malaysia, which will help the Warsaw-based orthopedic supplier expand its reach in the Asian market, the company said Tuesday.
The plant – which Symmetry opened in December 2006 and which employs 20 – produces sterilization cases and trays.
Plans are to ramp up production now that the plant has received ISO 13485 certification, said Fred Hite, Symmetry’s senior vice president and chief financial officer.
That international standard defines quality management system requirements for medical device manufacturers to make safe, effective products.
The plant in Penang, Malaysia, makes some component parts for Symmetry operations in the U.S., but its main focus is the Asian market, Hite said.
LM Ericsson shares plunged nearly 24 percent Tuesday as the wireless network company unexpectedly cut its third-quarter forecast, the latest cell phone technology company to feel the pinch of slowing sales worldwide.
The announcement sparked new concerns about the tighter market that wireless equipment makers, including leader Alcatel-Lucent SA and Nokia Siemens, might face in coming months.
The Stockholm-based company said it now expects sales for the quarter ended Sept. 30 to come in at $6.8 billion and operating profit to be just $875 million, below the company’s previous outlook.
Microsoft Corp. on Tuesday introduced programs that allow people to place calls right from the Outlook e-mail program, but analysts say businesses won’t throw away their reliable office phone systems until the software maker’s tools are just as good.
The new programs build on server and desktop software Microsoft introduced in 2005 that wove both instant messaging and indicators of “presence” – when a user is online, busy or logged off – into other communications programs in the Office suite.
The latest versions of Office Communications Server 2007 and Office Communicator 2007 add voice calling and video conferencing.
