Tutogen Medical contacted by Zimmer Holdings to discuss strategic transactions

By Elaine Rigoli

Tampa, Fla., March 13 - Tutogen Medical, Inc. said representatives from Zimmer Holdings, Inc. have contacted the company to enter into discussions on a range of potential strategic transactions, which could possibly include further investment by Zimmer in securities of Tutogen or the acquisition by Zimmer of some or all of the outstanding common stock of Tutogen.

Zimmer filed a Schedule 13 d/a on March 10, expressing its intention to begin discussions with Tutogen, according to a news release.

"We have made a great deal of progress in the past year in positioning the company for improved performance. We believe this approach by Zimmer is indicative of that progress," said Guy L. Mayer, Tutogen president and chief executive officer, in a statement.

"We look forward to considering any and all strategic options that will help us to expand the reach of our products worldwide and that will appropriately enhance value for our loyal shareholders."

Zimmer, based in Warsaw, Ind., develops joint replacement solutions for knee pain and hip pain, and provides spine care solutions for acute and chronic back pain.

Tutogen, based in Alachua, Fla., manufactures sterile biological implant products made from human (allograft) and animal (xenograft) tissue.

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