Subsequent Events

6 Months Ended

Jun. 30, 2016

Subsequent Events [Abstract]

Subsequent Events

16. Subsequent Events

On July 13, 2016, we acquired all of the outstanding shares of LDR Holding Corporation (“LDR”), a global medical device company focused on designing and commercializing novel and proprietary surgical technologies for the treatment of patients suffering from spine disorders, for $1,086.8 million. The addition of LDR will differentiate and enhance our Spine technology portfolio. We funded this acquisition primarily by borrowing under our Multicurrency Revolving Facility. We anticipate repaying the funds borrowed under our Multicurrency Revolving Facility in 2016 by entering into other debt instruments. At the date of issuance of the interim condensed consolidated financial statements contained in this Form 10-Q, the initial business combination accounting was not complete for this acquisition given the timing of the transaction.

On July 18, 2016, we acquired 58.8 percent of the outstanding share capital of Medtech SA (“Medtech”), as well as all outstanding convertible bonds and warrants previously issued by Medtech, for an aggregate purchase price of €96.0 million, or $107.0 million. In accordance with French law, we will launch, as soon as possible, an all-cash simplified tender offer to acquire the remaining outstanding shares of Medtech. Medtech is a French medical technology company specializing in designing, developing and marketing surgical assistance robots. Medtech currently offers two FDA-approved surgical robots that allow for minimally invasive brain and spine procedures. We expect the acquisition of Medtech to enhance our presence in the musculoskeletal market. At the date of issuance of the interim condensed consolidated financial statements contained in this Form 10-Q, the initial business combination accounting was not complete for this acquisition given the timing of the transaction.