Zimmer Biomet's (ZBH) - Get Zimmer Biomet Holdings, Inc. Report move to acquire LDR Holding (LDRH) is a smart one and it also bodes well for another medical device company NuVasive (NUVA) - Get NuVasive, Inc. Report , said TheStreet's Jim Cramer. Zimmer Biomet announced Tuesday that it has agreed to buy LDR Holding for roughly $1 billion. Zimmer offered $37 a share for each of the medical-device company's shares outstanding, a 64 percent premium to Monday's close. The deal is expected to close in the third quarter. Cramer said NuVasive is 'the obvious play so go buy it.'
At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.