Norfolk biotech company Embody has racked up a bevy of accomplishments since it was founded in 2014 with just two employees.
It has attracted millions of dollars in grant funding from the Department of Defense, and millions more from local and national stakeholders. Last April, the company announced plans to spend $5 million to expand its lab space by 10,000 feet and add 92 new jobs.
And now a bigger milestone can be added to the list: Embody’s sale to a major sports medicine company.
Zimmer Biomet, a Fortune 500 medical technology company based in Warsaw, Indiana, has signed a deal to acquire Embody for $155 million at closing and an additional $120 million subject to achieving other milestones over a three-year period.