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Joint by Joint

Orthopedics companies are living large.

Zimmer Holdings� $3.2 billion acquisition of Centerpulse, awaiting stockholder approval at press time, will mark a turning point in the orthopedics industry. The deal, one of the largest in the history of orthopedics, will create a new leader in the $15 billion worldwide device market. Smith & Nephew of London offered $2.5 billion for Centerpulse and the investment firm Incentive Capital, which owns 19% of Centerpulse. Indiana-based Zimmer arrived late to the bidding, but its offer represents a 28% premium.

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