Zimmer Biomet

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Zimmer Biomet (NYSE: ZBH) is a publicly traded medical device company. It was founded in 1927 to produce aluminum splints. The firm is headquartered in Warsaw, Indiana, where it is part of the medical devices business cluster.

In 2001 Zimmer was spun off from Bristol-Myers Squibb and began trading on the New York Stock Exchange, on August 7, under the ticker symbol "ZMH". In November 2011, the company acquired ExtraOrtho, Inc. (ExtraOrtho). In January 2012, the company acquired Reno, Nevada-based Synvasive Technology, Inc. On June 29, 2015, the company changed the ticker symbol to "ZBH" to reflect its acquisition of Biomet.

On January 12, 2017, Zimmer Biomet announced a resolution with the DOJ and the SEC in which they agreed to pay a fine of approximately $30.5 million, an amount which would not affect their 2017 outlook.

Video Zimmer Biomet

Products

Zimmer designs, develops, manufactures and markets orthopaedics products, including knee, hip, shoulder, elbow, foot and ankle artificial joints and dental prostheses. Zimmer has operations in more than 25 countries around the world (US, Australia, Austria, Belgium, Canada, China, Czech Republic, Finland, France, Germany, India, Ireland, Israel, Italy, Japan, Latin America, Netherlands, Brasil, Poland, Portugal, Russia, South Africa, Spain etc.) and sells products in more than 100 countries.

Maps Zimmer Biomet

History

On April 24, 2014, it was announced that Zimmer had agreed to purchase Biomet Inc. for $13.4 billion. In October 2014 however, it was announced that the EU's antitrust regulators had opened an extensive investigation into Zimmer's bid for Biomet due to concern that it would substantially lessen competition in certain markets. In March 2016, European Commission ("EC") conditionally cleared Zimmer's proposed acquisition of Biomet, Inc.and on June 24, 2015, Zimmer completed its acquisition of Biomet forming Zimmer Biomet Holdings.

In October 2014, the company announced it would acquire ETEX Holdings, Inc..

In March 2016, Zimmer Biomet announced it would acquire Ortho Transmission, LLC. The company also announced it would acquire sports medicine company, Cayenne Medical, Inc. Later in the same year the company acquired medical device manufacturer, LDR Holding Corporation for $37 per share ($1 billion in total), merging it into their Spine division. In August, the company announced it was acquiring Delaware-based CD Diagnostics, a diagnostics company developing immunoassays and biomarker testing. In September, Zimmer announced the acquisition of Clinical Graphics, B.V..

The Justin Zimmer House in Warsaw is listed on the National Register of Historic Places.

Acquisition history

The following is an illustration of the company's major mergers, acquisitions and historical predecessors:

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Company data

Zimmer's 2017 sales were approximately $7.824 billion. The company is supported by the efforts of approximately 18,200 employees worldwide.

Leadership

David C. Dvorak, was President and CEO from May 1, 2007 to July 11, 2017.
Dan Florin, Interim President and CEO from July 11, 2017 to December 19, 2017.
Bryan C. Hanson, President and CEO from December 19, 2017 to present.

Recognition

In 2016, the company was recognized on the Fortune 500 list for the first time, ranking in position #431. Since then, they have ranked on the list for three straight years.