Zimmer Biomet

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Zimmer Biomet Holdings, Inc.
TypePublic
Founded1927
FounderJustin O. Zimmer
HeadquartersWarsaw, Indiana, U.S.
Key people
Bryan C. Hanson (CEO)
RevenueUS$ 7.824 billion (2017)[1]
Number of employees
18,200 (2017)[1]
Websitezimmerbiomet.com

Zimmer Biomet 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”.[2] In November 2011, the company acquired ExtraOrtho, Inc. (ExtraOrtho). In January 2012, the company acquired Reno, Nevada-based Synvasive Technology, Inc.[3] On June 29, 2015, the company changed the ticker symbol to "ZBH" to reflect its acquisition of Biomet.[4]

On January 12, 2017, Zimmer Biomet announced a resolution with the DOJ and the SEC in which it agreed to pay a fine of approximately $30.5 million, an amount which would not affect its 2017 outlook.[5]

History[]

Exton, Pennsylvania office
EMEA-Office in Winterthur, Switzerland

Zimmer Biomet was established in 1927 by Justin O. Zimmer (1884-1951)[6] in Warsaw, Indiana.[7][8]

On April 24, 2014, it was announced that Zimmer had agreed to purchase Biomet Inc. for $13.4 billion.[9] 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.[10] In March 2016, European Commission (“EC”) conditionally cleared Zimmer’s proposed acquisition of Biomet, Inc.[11][12] and on June 24, 2015, Zimmer completed its acquisition of Biomet forming Zimmer Biomet Holdings.[4]

In October 2014, the company announced it would acquire ETEX Holdings, Inc.[13][14]

In March 2016, Zimmer Biomet announced it would acquire .[15] The company also announced it would acquire sports medicine company, [16][17] Later in the same year the company acquired medical device manufacturer, for $37 per share ($1 billion in total),[18] merging it into their Spine division.[19][20] In July, the company acquired French surgical robotics company Medtech.[21] In August, the company announced it was acquiring Delaware-based ,[22] a diagnostics company developing immunoassays and biomarker testing.[23] In September, Zimmer announced the acquisition of .[24]

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

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 40 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.[25]

Acquisition history[]

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

Zimmer Biomet
 
 
 
 
 
 
Zimmer, Inc
 
 
 
 
 
 
 
 

Zimmer

 
 
 
 
 

Centerpulse AG[26]
(Acq 2003)

 
 
 
 
 

InCentive Capital AG[26]
(Acq 2003)

 
 
 
 
 

ORTHOsoft Inc[27]
(Acq 2007)

 
 
 
 
 

Medizin-Technik GmbH[28]
(Acq 2013)

 
 
 
 
 

Knee Creations, LLC[29]
(Acq 2013)

 
 
 
 
 

ETEX Holdings, Inc[30]
(Acq 2014)

 
 
 
Biomet, Inc[32]
 

Merck KGaA[31]
(Merck’s interest in Biomet Merck Joint Venture, Acq 2004
renamed Biomet Europe Group)

 
 
 

Innovations, Inc[31]
(Acq 1999)

 
 
 

Kirschner Medical Corporation[31]
(Acq 1994)

 
 
 

W. Lorenz Surgical, Inc[31]
(1992)

 
 
 

Arrow Surgical Technologies[31]
(Acq 1990, renamed Biomet Sports Medicine)

 
 
 

Electro-Biology, Inc[31]
(Acq 1988)

 
 
 

Orthopaedic Equipment Company[31]
(Acq 1984)

 
 
 
 
 
 
 
 
 
 
 
 

Ortho Transmission, LLC
(Acq 2016)

 
 
 
 
 

Cayenne Medical, Inc.
(Acq 2016)

 
 
 
 
 

LDR Holding Corporation
(Acq 2016)

 
 
 
 
 

CD Diagnostics
(Acq 2016)

 
 
 
 
 

Clinical Graphics, B.V.
(Acq 2016)

 
 
 

Company data[]

Zimmer's 2017 sales were approximately $7.824 billion. The company has approximately 18,200 employees worldwide.[1]

Leadership[]

  • David C. Dvorak, was President and CEO[33] from May 1, 2007 to July 11, 2017.[34]
  • Dan Florin, Interim President and CEO from July 11, 2017 to December 19, 2017.[35]
  • Bryan C. Hanson, President and CEO from December 19, 2017[35] to present.

Recognition[]

In 2016, the company was recognized on the Fortune 500 list for the first time, ranking in position #431.[36] Since then, it has been on the list for three straight years.[37] As of 2018, the company is ranked 361st on the list.[38]

References[]

  1. ^ Jump up to: a b c http://investor.zimmerbiomet.com/~/media/Files/Z/ZimmerBiomet-IR/documents/annual-reports/2017-annual-report.pdf
  2. ^ "Zimmer Biomet Inc, Form 10-12B/A, Filing Date Jul 6, 2001". secdatabase.com. Retrieved Apr 25, 2018.
  3. ^ "Zimmer Biomet Inc, Form 10-K, Annual Report, Filing Date Feb 27, 2013" (PDF). secdatabase.com. Retrieved Apr 25, 2018.
  4. ^ Jump up to: a b "Zimmer Biomet Inc, Form 8-K, Current Report, Filing Date Jun 26, 2015". secdatabase.com. Retrieved Apr 25, 2018.
  5. ^ "Zimmer Biomet Inc, Form 8-K, Current Report, Filing Date Jan 18, 2017". secdatabase.com. Retrieved Apr 25, 2018.
  6. ^ "justin o zimmer". chicagonyeparty.com. Retrieved 2020-09-17.
  7. ^ Vaidya, Anuja. "15 things to know about Zimmer Biomet". www.beckersspine.com. Retrieved 2020-09-17.
  8. ^ "Zimmer Biomet Holdings (ZBH) Receives a Buy from Leerink Partners". Smarter Analyst. 2020-05-12. Retrieved 2020-09-17.
  9. ^ "Zimmer Biomet Inc, Form 8-K, Current Report, Filing Date Apr 24, 2014" (PDF). secdatabase.com. Retrieved Apr 25, 2018.
  10. ^ "Zimmer Biomet Inc, Form 8-K, Current Report, Filing Date Oct 2, 2014". secdatabase.com. Retrieved Apr 25, 2018.
  11. ^ "Zimmer Biomet Inc, Form 425, Filing Date Mar 30, 2015" (PDF). secdatabase.com. Retrieved Apr 25, 2018.
  12. ^ "EU regulators open extensive probe into Zimmer, Biomet deal" (Press release). Reuters. 3 October 2014.
  13. ^ "Zimmer Biomet Inc, Form 10-K, Annual Report, Filing Date Feb 23, 2015" (PDF). secdatabase.com. Retrieved Apr 25, 2018.
  14. ^ "Zimmer Acquires ETEX Holdings, Inc". investor.zimmerbiomet.com.
  15. ^ "Zimmer Biomet Acquires Ortho Transmission, LLC and Assets for Pioneering Technology to Restore Limb Amputee Patients". investor.zimmerbiomet.com.
  16. ^ "Zimmer Biomet Inc, Form 8-K, Current Report, Filing Date Apr 25, 2016". secdatabase.com. Retrieved Apr 25, 2018.
  17. ^ "Zimmer Biomet Completes Acquisition of Cayenne Medical". investor.zimmerbiomet.com.
  18. ^ "Zimmer Biomet Inc, Form 8-K, Current Report, Filing Date Jun 7, 2016" (PDF). secdatabase.com. Retrieved Apr 25, 2018.
  19. ^ "Zimmer Biomet Inc, Form 8-K, Current Report, Filing Date Jul 13, 2016". secdatabase.com. Retrieved Apr 25, 2018.
  20. ^ "Zimmer Biomet To Acquire LDR To Enhance Innovation And Growth Of Spine Business". investor.zimmerbiomet.com.
  21. ^ "EX-99.1". www.sec.gov. Retrieved 2019-01-23.
  22. ^ "Zimmer Biomet Inc, Form 8-K, Current Report, Filing Date Aug 15, 2016" (PDF). secdatabase.com. Retrieved Apr 25, 2018.
  23. ^ "Zimmer Biomet Strengthens Musculoskeletal Diagnostic Offering with Acquisition of CD Diagnostics". investor.zimmerbiomet.com.
  24. ^ "Zimmer Biomet Adds 3D Range-of-Motion Simulation Capability with Strategic Acquisition of Clinical Graphics". investor.zimmerbiomet.com.
  25. ^ Simon, Hermann, Hidden Champions of the 21st Century: Success Strategies of unknown World Market Leaders, London: Springer, 2009, ISBN 978-0-387-98147-5
  26. ^ Jump up to: a b "Zimmer Biomet -- Zimmer Launches Offers to Acquire Centerpulse AG and InCentive Capital AG". zimmerbiomet.com.
  27. ^ "Zimmer Biomet -- Zimmer's Offer To Acquire ORTHOsoft Is Successful". zimmerbiomet.com.
  28. ^ "Zimmer Biomet -- Zimmer Acquires NORMED Medizin-Technik GmbH". zimmerbiomet.com.
  29. ^ "Zimmer Biomet -- Zimmer Acquires Knee Creations, LLC's Business". zimmerbiomet.com.
  30. ^ "Zimmer Biomet -- Zimmer Acquires ETEX Holdings, Inc". zimmerbiomet.com.
  31. ^ Jump up to: a b c d e f g "Biomet UK - History of Biomet - A Heritage of Excellence". biomet.co.uk.
  32. ^ "Zimmer Biomet -- Zimmer Completes Combination with Biomet". zimmerbiomet.com.
  33. ^ "Zimmer Biomet Leadership Team".
  34. ^ "Zimmer Biomet Inc, Form 8-K, Current Report, Filing Date Jul 11, 2017" (PDF). secdatabase.com. Retrieved Apr 25, 2018.
  35. ^ Jump up to: a b "Zimmer Biomet Inc, Form 8-K, Current Report, Filing Date Dec 21, 2017". secdatabase.com. Retrieved Apr 25, 2018.
  36. ^ "Here Are the 15 New Companies Joining the Fortune 500". Fortune. Retrieved 2018-06-06.
  37. ^ "Zimmer Biomet Holdings". Fortune. Retrieved 2018-06-06.
  38. ^ "Zimmer Biomet Holdings". Fortune. Retrieved 2018-12-18.

External links[]

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