Zimmer's offer to acquire ORTHOsoft is successful - Offer is extended until October 26, 2007

    WARSAW, IN and MONTREAL, Oct. 16 /CNW Telbec/ - Zimmer Holdings, Inc.
("Zimmer") (NYSE and SWX: ZMH), a leader in the orthopaedics industry, and its
indirect wholly-owned subsidiary ZMH Acquisition Co. ("Offeror"), announced
today that the bid to acquire ORTHOsoft Inc. ("ORTHOsoft") (TSX-Venture: OSH),
a leader in computer navigation for orthopaedic surgery, has been successful.
Zimmer expects to close the transaction by early November.
    A total of 41,509,214 common shares ("Shares") of ORTHOsoft were
deposited by shareholders of ORTHOsoft at or prior to 6:00 p.m. (Eastern Time)
on October 15, 2007, being the expiry time of the offer made by the Offeror on
September 7, 2007 to acquire all of the issued and outstanding Shares,
including Shares issuable pursuant to the exercise of ORTHOsoft options. This
represents, with Shares held by Zimmer or its affiliates, approximately 91.31%
of the 52,392,755 outstanding Shares.
    In view of these results, all of the conditions mentioned in the Offer
have been met. The Offeror notified Computershare Investor Services Inc., the
depositary for the Offer, that the Offeror had decided to take-up all the
Shares validly deposited and not withdrawn under the Offer at or prior to
6:00 p.m. (Eastern Time) on October 15, 2007, made appropriate arrangements
for the prompt payment of such Shares, and extended the Offer for acceptance
until 8:00 a.m. (Eastern Time) on October 26, 2007.
    Except for the above extension, the terms and conditions set forth in the
Offer continue to apply in all respects. The Offeror will mail a Notice of
Extension to all shareholders of ORTHOsoft whose Shares were not deposited
under the Offer. Those shareholders are invited to deposit their Shares under
the Offer by no later than 8:00 a.m. (Eastern Time) on October 26, 2007.
    The Shareholders of ORTHOsoft are advised to read the Notice of
Extension, the Offer to Purchase and Circular and all related documents which
have been filed with Canadian securities commissions as they contain important
information. Shareholders may obtain a copy of the material (when available)
at the SEDAR web site at www.sedar.com.
    Zimmer said it intends to maintain ORTHOsoft's current operations in
Montreal and will integrate the company with Zimmer's Computer Assisted
Solutions (CAS) organization. ORTHOsoft currently has 81 employees, most of
whom are engaged in sales and product development.

    About Zimmer

    Founded in 1927 and headquartered in Warsaw, Indiana, Zimmer is the
worldwide #1 pure-play orthopaedic leader in designing, developing,
manufacturing and marketing reconstructive and spinal implants, trauma and
related orthopaedic surgical products. Zimmer has operations in more than 24
countries around the world and sells products in more than 100 countries.
Zimmer's 2006 sales were approximately $3.5 billion. The Company is supported
by the efforts of more than 7,000 employees worldwide.

    Zimmer Safe Harbor Statement

    This press release contains forward-looking statements within the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995
based on current expectations, estimates, forecasts and projections about the
orthopaedics industry, management's beliefs and assumptions made by
management. Forward-looking statements may be identified by the use of
forward-looking terms such as "may," "will," "expects," "believes,"
"anticipates," "plans," "estimates," "projects," "assumes," "guides,"
"targets," "forecasts," and "seeks" or the negative of such terms or other
variations on such terms or comparable terminology. These statements are not
guarantees of future performance and involve risks, uncertainties and
assumptions that could cause actual outcomes and results to differ materially.
These risks and uncertainties include, but are not limited to, our ability to
successfully integrate acquired businesses, the impact of our settlement of
the federal investigation into financial relationships with consulting
surgeons, including our compliance with the Deferred Prosecution Agreement
through March 2009 and the Corporate Integrity Agreement through 2012, the
outcome of the Department of Justice Antitrust Division investigation
announced in June 2006, price and product competition, rapid technological
development, demographic changes, dependence on new product development, the
mix of our products and services, supply and prices of raw materials and
products, customer demand for our products and services, control of costs and
expenses, our ability to form and implement alliances, international growth,
governmental laws and regulations affecting our U.S. and international
businesses, including tax obligations and risks, product liability and
intellectual property litigation losses, reimbursement levels from third-party
payors, general industry and market conditions and growth rates and general
domestic and international economic conditions including interest rate and
currency exchange rate fluctuations. For a further list and description of
such risks and uncertainties, see our periodic reports filed with the U.S.
Securities and Exchange Commission. We disclaim any intention or obligation to
update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as may be set forth in our
periodic reports. Readers of this document are cautioned not to place undue
reliance on these forward-looking statements, since, while we believe the
assumptions on which the forward-looking statements are based are reasonable,
there can be no assurance that these forward-looking statements will prove to
be accurate. This cautionary statement is applicable to all forward-looking
statements contained in this document.

For further information:

For further information: Media: Brad Bishop, (574) 372-4291,
bradley.bishop@zimmer.com; Sean O'Hara, (574) 371-8032,
sean.f.ohara@zimmer.com; James T. Crines, (574) 372-4264,

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890