WARSAW, Ind. (WOWO): Zimmer Biomet is making another big purchase.

The Warsaw-based medical device manufacturer is purchasing LDR Holding Corp. for $1 billion. The Texas-based company specializes in cervical disc replacement, and Zimmer Biomet CEO David Dvorak said the purchase will bolster Zimmer in the fastest growing segment in the spine industry, according to Inside Indiana Business.

Dvorak says there won’t be any major overlap of products. The deal is expected to close in the third quarter of this year.

It’s the third big purchase by Zimmer Biomet since March. Last month, sports medicine device maker Cayenne Medical of Arizona was purchased by Zimmer Biomet. Two months earlier, Zimmer acquired Ortho Transmission Inc. of Colorado.

Last month, Zimmer Biomet completed the acquisition of Arizona-based sports medicine device maker, Cayenne Medical Inc. In March, it also wrapped up the acquisition of Ortho Transmission Inc., which was headquartered in Colorado.

More details about the purchase were provided in a slideshow by Zimmer Biomet:

Zimmer Bioment by Saige Driver