UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

FORM 10-Q

(Mark One)

     [X]      QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE 
              SECURITIES EXCHANGE ACT OF 1934

              For the quarterly period ended November 30, 1995.

 OR

     [ ]      TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
              SECURITIES EXCHANGE ACT OF 1934

              For the transition period from _______________ to _______________.

Commission file Number 0-12515. 
 
BIOMET, INC.
(Exact name of registrant as specified in its charter)

Indiana                                                      35-1418342
(State or other jurisdiction of                              (I.R.S. Employer
incorporation or organization)                               Identification No.)

Airport Industrial Park, P.O. Box 587, Warsaw, Indiana  46581-0587
(Address of principal executive offices)

(219) 267-6639 
(Registrant's telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports 
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 
1934 during the preceding 12 months (or for such shorter period that the 
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.  Yes  X    No        

The number of shares outstanding of each of the issuer's classes of common
stock, as of November 30, 1995:

Common Shares - No Par Value                                 115,425,459 Shares
(Class)                                                      (Number of Shares)

Rights to Purchase Common Shares                             115,425,459 Rights
(Class)                                                      (Number of Shares)


BIOMET, INC.

CONTENTS

                                              										                 Pages

    Part I.  Financial Information 

      Item 1.  Financial Statements:

                 Consolidated Balance Sheets                               1-2

                 Consolidated Statements of Income                           3

                 Consolidated Statements of Cash Flows                       4

                 Notes to Consolidated Financial Statements                5-6

      Item 2.  Management's Discussion and Analysis of
               Financial Condition and Results of Operations               7-9


    Part II.   Other Information                                            10

    Signatures                                                              11

    Index to Exhibits                                                       12



PART I.  FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS

BIOMET, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS
as of November 30, 1995 and May 31, 1995
(in thousands)

ASSETS
                                                November 30,       May 31,
                                                    1995            1995
                                                ------------       -------
Current assets: 				
  Cash and cash investments                      $  74,103        $  34,091
  Marketable securities                             19,436           56,354
  Accounts and notes receivable, net               147,553          140,283
  Inventories                                      149,641          140,885
  Prepaid expenses and other                        21,918           20,289
                                                   -------          -------
      Total current assets                         412,651          391,902
                                                   -------          -------
Property, plant and equipment, at cost             126,338          121,018
    Less, Accumulated depreciation                  46,362           40,710
                                                   -------          -------				
      Property, plant and equipment, net            79,976           80,308		
                                                   -------          -------
Marketable securities                               33,629           34,030
Intangible assets, net                               8,477            8,170 
Excess acquisition cost over fair value  		 		 
  of acquired net assets, net                       21,126           22,828
Investments in and advances to affiliates              209              185
Other assets                                         1,561            1,661
                                                   -------          -------
Total assets                                     $ 557,629        $ 539,084 
                                                   =======          =======

The accompanying notes are a part of the consolidated financial statements.


BIOMET, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS
as of November 30, 1995 and May 31, 1995
(in thousands)

LIABILITIES AND SHAREHOLDERS' EQUITY 
                                                 November 30,       May 31,
                                                     1995     	      1995
                                                 ------------       -------
Current liabilities:       		 		 
  Short-term borrowings                           $   3,005        $   3,518
  Accounts payable                                   17,331           27,194
  Accrued income taxes                               14,970           12,366
  Accrued wages and commissions                      10,749           13,050
  Liability for purchased common shares                  --           10,406
  Other accrued expenses                             22,137           22,616 
                                                    -------          -------
     Total current liabilities                       68,192           89,150 

Long-term liabilities: 				
  Deferred federal income taxes                       2,242            2,240
  Other liabilities                                   2,025            3,077
                                                    -------          -------
     Total liabilities                               72,459           94,467
                                                    -------          -------
Contingencies (Note 5) 				

Shareholders' equity: 				
  Common shares                                      65,033           64,526 
  Additional paid-in capital                         13,050           12,624
  Retained earnings                                 407,571          364,087
  Unrealized gain on certain equity securities          760            2,800
  Cumulative translation adjustment                  (1,244)             580
                                                    -------          -------
     Total shareholders' equity                     485,170          444,617 
                                                    -------          -------
Total liabilities and shareholders' equity        $ 557,629        $ 539,084 
                                                    =======          =======

The accompanying notes are a part of the consolidated financial statements.

BIOMET, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME
for the six and three month periods ended November 30, 1995 and 1994
(in thousands, except earnings per share)

                                    Six Months Ended       Three Months Ended
                                      November 30,            November 30,
                                    ----------------       ------------------
                                    1995        1994        1995        1994
                                    ----        ----        ----        ----

Net sales                         $260,273    $203,086    $133,046    $106,860

Cost of sales                       84,829      62,682      43,550      32,877
                                   -------     -------     -------     -------
  Gross profit                     175,444     140,404      89,496      73,983

Selling, general and 
  administrative expenses           99,498      74,266      48,901      39,100
Research and development expense    12,049      10,846       5,852       5,631
                                   -------     -------     -------     ------- 
  Operating income                  63,897      55,292      34,743      29,252

Other income, net                    5,599       3,055       1,803       1,664 
                                   -------     -------     -------     -------
  Income before income taxes        69,496      58,347      36,546      30,916

Provision for income taxes          26,012      21,825      13,811      11,507 
                                   -------     -------     -------     -------
  Net income                      $ 43,484    $ 36,522    $ 22,735    $ 19,409 
                                   =======     =======     =======     =======
Earnings per share, based on 
  the weighted average number 
  of shares outstanding	during 
  the periods presented              $ .38       $ .32       $ .20       $ .17
                                      ====        ====        ====        ====
Weighted average number of shares  115,303     114,733     115,353     114,986
                                   =======     =======     =======     =======

The accompanying notes are a part of the consolidated financial statements.

BIOMET, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS
for the six months ended November 30, 1995 and 1994
(in thousands)

                                                          1995          1994
                                                          ----          ----
Cash flows from (used in) operating activities:
  Net income                                            $ 43,484      $ 36,522
  Adjustments to reconcile net income to 				
    net cash from operating activities: 				
      Depreciation                                         5,997         4,256
      Amortization                                         4,115         2,097
      Gain on sale of marketable securities, net          (2,824)          (53)
      Equity in losses of affiliates                          --         1,200
      Deferred income taxes                                   --            96
      Changes in current assets and current liabilities: 				
        Accounts and notes receivable, net                (7,630)       (4,599)
        Inventories                                       (9,240)      (10,599)
        Prepaid expenses and other                        (1,662)       (1,467)
        Accounts payable                                  (9,648)         (940)
        Accrued income taxes                               2,659         1,536
        Accrued wages and commissions                     (2,294)          (78)
        Other accrued expenses                              (372)        2,977
                                                          ------        ------
        Net cash from operating activities                22,585        30,948 
                                                          ------        ------
Cash flows from (used in) investing activities: 				
  Cash proceeds from sale of marketable securities        47,087         3,254 
  Purchase of marketable securities                       (8,984)      (13,911)
  Capital expenditures                                    (5,877)       (5,711)
  Cash invested in and advanced to affiliates                (24)         (107)
  Purchase of Kirschner, net of cash acquired                 --       (27,315)
  Increase in other assets                                (2,399)          148
  Other                                                     (928)          666
                                                          ------        ------
        Net cash from (used in) investing activities      28,875       (42,976)
                                                          ------        ------
Cash flows from (used in) financing activities: 				 
  Decrease in short-term borrowings                         (581)       (7,771)
  Issuance of common shares                                  507           772
  Repurchase of shares                                   (10,406)           --
                                                          ------        ------
        Net cash used in financing activities            (10,480)       (6,999)
                                                          ------        ------
Effect of exchange rate changes on cash                     (968)         (395)
                                                          ------        ------
Increase (decrease) in cash and cash investments          40,012       (19,422)
Cash and cash investments, beginning of year              34,091        70,391
                                                          ------        ------
Cash and cash investments, end of period                $ 74,103      $ 50,969
                                                          ======        ======

The accompanying notes are a part of the consolidated financial statements.

BIOMET, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTE 1:     OPINION OF MANAGEMENT.

In the opinion of management, the information furnished herein
includes all adjustments necessary to reflect a fair statement
of the interim periods reported.  The May 31, 1995 condensed
consolidated balance sheet data was derived from audited
financial statements, but does not include all disclosures
required by generally accepted accounting principles.

NOTE 2     INVENTORIES.

Inventories at November 30, 1995 and May 31, 1995 are as follows:

                                November 30,    May 31,
                                     1995         1995   
                                ------------    -------   
                                     (in thousands)
    Raw materials                 $ 21,878     $ 19,146
    Work in process                 15,033       15,163
    Finished goods                  64,940       62,884
    Consigned inventory             47,790       43,692
                                   -------      -------
                                  $149,641     $140,885
                                   =======      =======
NOTE 3:     INCOME TAXES.

The difference between the reported provision for income taxes
and a provision computed by applying the federal statutory rate
to pre-tax accounting income is primarily attributable to state
income taxes, tax exempt income and tax credits.

NOTE 4:     COMMON SHARES.

During the six months ended November 30, 1995, the Company
issued 237,794 common shares upon the exercise of outstanding
stock options for proceeds aggregating $506,867.

NOTE 5:     CONTINGENCIES.

On February 9, 1990, Pedro A. Ramos, M.D. filed a complaint in
the United States District Court for the Southern District of
Florida naming the Company as a defendant.  The plaintiff
alleged the Company infringed his patent. In April 1993, the
matter was tried before Judge Aronovitz of the Southern District
of Florida. Judge Aronovitz issued a memorandum opinion in
August 1993, finding that U.S. Patent No. 4,383,090 was
willfully infringed. On September 10, 1993 the trial court
entered a final judgment and permanent injunction in favor of
Dr. Ramos.  An amended final judgment was entered on November
30, 1993 awarding Dr. Ramos a permanent injunction and
$6,008,000.  The Company filed Notices of Appeal of the final
judgment and amended final judgment on September 20, 1993 and
December 13, 1993, respectively, with the Court of Appeals for
the Federal Circuit.  On September 2, 1995 the U.S. Court of
Appeals for the Federal Circuit reversed in part and affirmed in
part the judgment previously entered against the Company.  The
Court of Appeals held that, although the bipolar design did
infringe the Ramos patent under the doctrine of equivalents,
that infringement was neither literal nor willful on the part of
the Company and reduced the judgment to approximately
$2,000,000.  The Company's petition for rehearing to the Court
of Appeals was denied and the case is now closed. The Company
recorded a $2,000,000 charge against pre-tax earnings for the
quarter ended August 31, 1995, to reflect the effect of this
decision.  The Company has discontinued sales of its old bipolar
design in question and introduced a new bipolar product.

ITEM 2.     MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
            CONDITION AND RESULTS OF OPERATIONS

FINANCIAL CONDITION AS OF NOVEMBER 30, 1995

As of November 30, 1995, the Company's working capital position
remains strong, increasing by $41,707,000 during the first six
months of fiscal year 1996 to $344,459,000 and resulting in a
working capital ratio of 6.1 to 1.  This increase in working
capital is principally attributable to the operating results
experienced by the Company during the first six months of fiscal
year 1996.  Cash and marketable securities increased during the
first six months by $2,693,000 to $127,168,000 .  The Company's
cash and marketable securities, together with anticipated cash
flow from operations, are expected to be adequate to fund all
anticipated capital requirements.

Accounts and notes receivable and inventories increased by
$7,270,000 and $8,756,000, respectively.  Accounts receivable
increased due to the increased sales volume.  Inventories have
been increased to support the Kirschner reconstructive implant
product line and the recent increase in international sales.
Property, plant and equipment increased $5,320,000 during the
first six months of fiscal 1996.  Included in the aforementioned
changes were decreases in accounts receivable, inventories and
property, plant and equipment of approximately $381,000,
$421,000 and $353,000, respectively, attributable to the
increase from May 31, 1995 to November 30, 1995 in the exchange
rates used to convert the financial statements of  the Company's
foreign subsidiaries from their functional currency to the U.S.
Dollar.  These increases did not affect the Company's earnings
during the past six month period because foreign currency
translation adjustments to balance sheet items are recognized
directly in shareholders' equity on the Company's consolidated
balance sheet.  The Company will continue to be exposed to the
effects of foreign currency translation adjustments.

The payment for common shares purchased prior to May 31, 1995
and a decrease in accounts payable are the primary causes of the
decrease of $22,008,000 in total liabilities.

Shareholders' equity increased $40,553,000 principally due to
the Company's first six months earnings.  Offsetting this
increase is a decrease in the unrealized gain on certain equity
securities and cumulative translation adjustment of $2,040,000
and $1,824,000, respectively, between periods presented.

RESULTS OF OPERATIONS FOR THE SIX MONTHS ENDED NOVEMBER 30, 1995
AS COMPARED TO THE SIX MONTHS ENDED NOVEMBER 30, 1994

Net sales increased 28% to $260,273,000 for the six month period
ended November 30, 1995, from $203,086,000 for the same period
last year. The Company's U.S.-based revenue increased 24% to
$196,067,000 during the first six months, while foreign sales
increased 43% to $64,206,000.  Foreign currency exchange rates
did not have a material impact on sales or earnings during the
first six months.  Biomet's worldwide reconstructive device
sales during the first six months of fiscal 1996 were
$157,074,000, representing a 31% increase compared to the first
six months of fiscal year 1995.  This increase  was primarily a
result of Biomet's continued penetration of the reconstructive
device market led by the recently introduced Maxim Total Knee
System and the inclusion of Kirschner sales for the first six
months.  Sales of EBI's products were $53,488,000 for the first
six months of fiscal 1996, representing a 15% increase as
compared to the same period in 1995.  This increase was largely
attributable to increased demand for bone healing units and the
continued increase in the external fixation market.  The
Company's "other products" revenues totaled $49,711,000,
representing a 36% increase over the first six months of fiscal
year 1995, primarily as a result of increased sales of Lorenz
products, fixation products and the inclusion of Kirschner sales.

Cost of sales increased as a percentage of net sales from 30.9%
for the first six months of fiscal 1995 to 32.6% for the first
six months of fiscal 1996 due to the inclusion of Kirschner
sales for the period which have a lower gross profit margin and
the start-up expenses associated with the EBI manufacturing
facility purchased late last fiscal year.  Selling, general and
administrative expenses increased as a percentage of net sales
to 38.2%, compared to 36.6% for the first six months of last
year.  This includes a $1,600,000 accrual for the Ramos
litigation as described in Note 5 of the Notes to Consolidated
Financial Statements, and a $1,000,000 accrual for expenses in
connection with the restructuring and consolidation of the
operations of Kirschner's reconstructive implant division.  The
increase in research and development expenditures during the
first six months reflects Biomet's commitment to remain
competitive through technological advancements and to capitalize
on future opportunities available within the orthopedic market. 
Operating income rose 16% from $55,292,000 for the first six
months of fiscal 1995, to $63,897,000 for the first six months
of fiscal 1996, corresponding to the increase in net sales. 
Other income increased $2,544,000 for the first six months of
fiscal year 1996 compared to the prior year's first six months
due to realized gains on the sale of marketable securities and
higher investment rates during the first quarter offset by
accrued interest of $400,000 incurred for the Ramos litigation
as described in Note 5 of the Notes to Consolidated Financial
Statements.  A gain of $2,500,000 was realized on the sale of
the Company's holdings in American Medical Electronics, Inc. in
connection with the closing of the Orthofix International NV and
American Medical Electronics, Inc. merger.  The effective income
tax rate remained constant at 37.4% for each of the six month
periods presented.

These factors resulted in a 19% increase in net income and
earnings per share for the first six months of fiscal 1996 as
compared to the same period in fiscal 1995, increasing from
$36,522,000 to $43,484,000, and from $.32 to $.38, respectively. 

RESULTS OF OPERATIONS FOR THE THREE MONTHS ENDED NOVEMBER 30, 1995
AS COMPARED TO THE THREE MONTHS ENDED NOVEMBER 30, 1994

Net sales increased 25% to $133,046,000 for the second quarter
of fiscal year 1996, as compared to $106,860,000 for the same
period last year.  Operating income rose 19% from $29,252,000
for the second quarter of  fiscal 1995, to $34,743,000 for the
second quarter of fiscal 1996.  During the second quarter, net
income increased 17% to $22,735,000 as compared to $19,409,000
for the same period last year.  Earnings per share increased 18%
from $.17 per share for the second quarter of fiscal 1995, to
$.20 per share for the same period of fiscal 1996.  The business
factors resulting in these changes and relevant trends affecting
the Company's business during the periods in question are
comparable to those described in the preceding discussion for
the six-month period except for the three nonrecurring events
which were recorded in the first quarter.

PART II.  OTHER INFORMATION

Item 1.  Legal Proceedings.

On February 9, 1990, Pedro A. Ramos, M.D. filed a complaint in
the United States District Court for the Southern District of
Florida naming the Company as a defendant.  The plaintiff
alleged the Company infringed his patent. In April 1993, the
matter was tried before Judge Aronovitz of the Southern District
of Florida. Judge Aronovitz issued a memorandum opinion in
August 1993, finding that U.S. Patent No. 4,383,090 was
willfully infringed. On September 10, 1993 the trial court
entered a final judgment and permanent injunction in favor of
Dr. Ramos.  An amended final judgment was entered on November
30, 1993 awarding Dr. Ramos a permanent injunction and
$6,008,000.  The Company filed Notices of Appeal of the final
judgment and amended final judgment on September 20, 1993 and
December 13, 1993, respectively, with the Court of Appeals for
the Federal Circuit.  On September 2, 1995 the U.S. Court of
Appeals for the Federal Circuit reversed in part and affirmed in
part the judgment previously entered against the Company.  The
Court of Appeals held that, although the bipolar design did
infringe the Ramos patent under the doctrine of equivalents,
that infringement was neither literal nor willful on the part of
the Company and reduced the judgment to approximately
$2,000,000.  The Company's petition for rehearing to the Court
of Appeals was denied and the case is now closed. The Company
recorded a $2,000,000 charge against pre-tax earnings for the
quarter ended August 31, 1995, to reflect the effect of this
decision.  The Company has discontinued sales of its old bipolar
design in question and introduced a new bipolar product.

Item 6.  Exhibits and Reports on Form 8-K

     (a)  Exhibits.  See Index to Exhibits.

     (b)  Reports on Form 8-K. 
          None.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.


BIOMET, INC.
------------
(Registrant)


DATE:  1/12/96                       BY: /s/  GREGORY D. HARTMAN
      --------                           -------------------------
                                         Gregory D. Hartman
                                         Vice President - Finance
                                         (Principal Financial Officer)

                                         (Signing on behalf of the Registrant
                                         and as Principal Financial Officer)

BIOMET, INC.

FORM 10-Q

INDEX TO EXHIBITS

                                                               Sequential
Number Assigned                                                Numbering System
in Regulation S-K                                              Page Number
Item 601               Description of Exhibit                  of Exhibit      
-----------------      --------------------------------        ----------------
(2)                    No exhibit.

(4)                    4.1 Specimen certificate for Common
                       Shares.  (Incorporated by reference
                       to Exhibit 4.1 to the registrant's
                       Report on Form 10-K for the fiscal
                       year ended May 31, 1985).

                       4.2  Rights Agreement between Biomet,
                       Inc. and Lake City Bank, as Rights 
                       Agent, dated as of December 2, 1989.
                       (Incorporated by reference to Exhibit
                       4 to Biomet, Inc. Form 8-K Current 
                       Report dated December 22, 1989, 
                       Commission File No. 0-12515).

(10)                   No exhibit.

(11)                   No exhibit.

(15)                   No exhibit.

(18)                   No exhibit.

(19)                   No exhibit.

(22)                   No exhibit.

(23)                   No exhibit.

(24)                   No exhibit.

(27)                   Financial data schedules.

(99)                   No exhibit.