Biomet Europe is a wholly owned subsidiary of Biomet Inc. in Warsaw.
In January 1998, Biomet Inc., together with Merck KGaA, a global pharmaceutical company based in Darmstadt, Germany, formed the Joint Venture "Biomet Merck" and created one of the market leading orthopaedic companies in Europe. Biomet Merck combined in an ideal way the competences of a leading highly responsive company in orthopaedics with the skills of a global pharmaceutical-chemical company and its knowledge in biomaterials and drugs.
In the Spring of 2004, Biomet Inc. aquired Merck KGaA's 50% interest in the Joint Venture. With this acquisition, Biomet acquired the technologies and pharmaceutical competences that Merck had contributed to the Joint Venture. The Biomet Merck Joint Venture, following the acquisition, was renamed "Biomet Europe Group."
Biomet is looking forward to continuing to expand its European presence, and to pursue innovative concepts for the European market place, especially by addressing the particular needs of its European customers.
On November 30, 1977, Dane A. Miller, Ph.D., Niles L. Noblitt, Jerry L. Ferguson and M. Ray Harroff took a bold step and created Biomet, Inc., a fledgling orthopedic company in an industry dominated by divisions of large pharmaceutical companies. The four young entrepreneurs aimed to provide patients with the highest quality and most clinically proven products in the marketplace. In the first year, Biomet recorded sales of $17,000 - and a net loss of $63,000. Nevertheless, the founders remained focused on their vision for the future of orthopedics. Today, Biomet forges ahead as a leader in the musculoskeletal marketplace. In addition to a clear vision, the road to Biomet's industry position has evolved through a number of strategic partnerships and acquisitions. Biomet issued public stock in 1982, 1983, and again in 1986.
In 1984, Biomet established its international presence with the acquisition of Orthopedic Equipment Company (OEC), which expanded manufacturing operations into Europe. In addition to key international markets, the acquisition bolstered the distribution network in the United States and provided the Company with a broad line of internal fixation devices and operating room supplies. In 1988, Biomet acquired Electro-Biology, Inc. (EBI), a leader in both the electrical stimulation and external fixation markets. In addition to a superior product line, EBI provided a direct salesforce to sell its products. Then, in 1990, Biomet again expanded its product line and entered the arthroscopy market with the purchase of Arrow Surgical Technologies. These products are now incorporated into the Biomet subsidiary known as Arthrotek, Inc. Biomet ventured into the craniomaxillofacial market in 1992 with the purchase of W. Lorenz Surgical, Inc., an established leader in this market segment. Biomet acquired Kirschner Medical Corporation in 1994, which provided complementary product offerings in the reconstructive and softgoods markets. Biomet entered the dental reconstructive implant market with the acquisition of Implant Innovations, Inc. (3i) in 1999. 3i is a leader in the worldwide market with a strong track record of increasing its market share and developing innovative products and technologies for its customers.
Biomet employs over 5,000 team members across 18 manufacturing facilities throughout the world. Headquartered in Warsaw, Indiana, Biomet has manufacturing and/or office facilities in over 50 locations worldwide. The Company currently distributes its products in more than 100 countries throughout the world with over 2,000 sales representatives servicing Biomet's customers.
Over the years, Biomet set itself apart from the competition with a no-nonsense approach to management and technological excellence. This has enabled Biomet to grow quickly as a leader in the musculoskeletal marketplace. Clearly, Biomet has been rewarded for maintaining its original objectives. The Company's current annual sales exceed $1.6 billion. All four founders are still active with the Company. Dr. Miller serves as President and CEO, Mr. Noblitt is Chairman of the Board, Mr. Ferguson is Vice Chairman of the Board, and Mr. Harroff serves on the Board of Directors.
