Synthes announces takeover of The Anspach Effort

Synthes has completed a takeover of global surgical tools manufacturer The Anspach Effort for an undisclosed fee.

The deal, which closed on November 5th 2010, allows Synthes to take control of a business which specialises in high-speed power tools for use in neurosurgery, spinal and ENT surgery and operates in more than 50 countries.

It will allow Synthes to create its own dedicated power tools division, which will involve the development of The Anspach Effort's facilities in Florida, while working to expand the worldwide distribution of its products.

Dr William Anspach, chairman of the board of The Anspach Effort, said the acquisition will secure the long-term future of the company, which he founded in 1978.

Synthes' president and chief executive officer Michel Orsinger added: "I am excited about the cultural fit between Synthes and Anspach, with our shared focus on education, quality and innovation, all of which make important contributions to patient care."

This comes after Synthes published its third quarter financial report last month, noting a sales growth of five percent year-over-year.