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Subsequent Event
6 Months Ended
Oct. 26, 2012
Subsequent Event [Abstract]  
Subsequent Events

Note 21 – Subsequent Events

 

On November 1, 2012, the Company acquired China Kanghui Holdings (Kanghui). Kanghui is a Chinese manufacturer and distributor of orthopedic products in trauma, spine, and joint reconstruction. Total consideration for the transaction was approximately $816 million. The total value of the transaction, net of Kanghui's cash, was approximately $755 million.

 

On December 3, 2012, the Company and Shandong Weigao Group Medical Polymer Company Limited, the Company's partner in the joint venture to distribute spinal and orthopedic products in China, signed a Separation Agreement to terminate early their joint venture established in 2007. The proposed termination of the joint venture is contingent upon receipt of the requisite approvals from the relevant Chinese regulatory authorities. Pursuant to the terms of the agreement, the Company's exclusive distribution agreement with the joint venture to distribute the Company's spinal products in China will terminate effective December 31, 2012.