Zimmer Biomet

Zimmer Biomet Holdings, Inc.
Public
Traded as
Founded 1927
Founder Justin O. Zimmer
Headquarters Warsaw, Indiana, U.S.
Key people
 Bryan C. Hanson (CEO)
Revenue US$ 7.824 billion (2017)[1]
Number of employees
 18,200 (2017)[1]
Website zimmerbiomet.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 they agreed to pay a fine of approximately $30.5 million, an amount which would not affect their 2017 outlook.[5]

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.[6]

History

Exton, Pennsylvania office

On April 24, 2014, it was announced that Zimmer had agreed to purchase Biomet Inc. for $13.4 billion.[7] 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.[8] In March 2016, European Commission (“EC”) conditionally cleared Zimmer’s proposed acquisition of Biomet, Inc.[9][10]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..[11][12]

In March 2016, Zimmer Biomet announced it would acquire Ortho Transmission, LLC.[13] The company also announced it would acquire sports medicine company, Cayenne Medical, Inc.[14][15] Later in the same year the company acquired medical device manufacturer, LDR Holding Corporation for $37 per share ($1 billion in total),[16] merging it into their Spine division.[17][18] In August, the company announced it was acquiring Delaware-based CD Diagnostics,[19] a diagnostics company developing immunoassays and biomarker testing.[20] In September, Zimmer announced the acquisition of Clinical Graphics, B.V..[21]

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:

Zimmer Biomet

 

 

 

 

 

 

Zimmer, Inc

 

 

 

 

 

 

 

 

Zimmer

 
 
 
 

 

Centerpulse AG[22]
(Acq 2003)

 
 
 
 

 

InCentive Capital AG[22]
(Acq 2003)

 
 
 
 

 

ORTHOsoft Inc[23]
(Acq 2007)

 
 
 
 

 

Medizin-Technik GmbH[24]
(Acq 2013)

 
 
 
 

 

Knee Creations, LLC[25]
(Acq 2013)

 
 
 
 

 

ETEX Holdings, Inc[26]
(Acq 2014)

 
 
 
Biomet, Inc[27]

 

Merck KGaA[28]
(Mercks interest in Biomet Merck Joint Venture, Acq 2004
renamed Biomet Europe Group)

 
 

 

Innovations, Inc[28]
(Acq 1999)

 
 

 

Kirschner Medical Corporation[28]
(Acq 1994)

 
 

 

W. Lorenz Surgical, Inc[28]
(1992)

 
 

 

Arrow Surgical Technologies[28]
(Acq 1990, renamed Biomet Sports Medicine)

 
 

 

Electro-Biology, Inc[28]
(Acq 1988)

 
 

 

Orthopaedic Equipment Company[28]
(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 is supported by the efforts of approximately 18,200 employees worldwide.[1]

Leadership

  • David C. Dvorak, was President and CEO[29] from May 1, 2007 to July 11, 2017.[30]
  • Dan Florin, Interim President and CEO from July 11, 2017 to December 19, 2017.[31]
  • Bryan C. Hanson, President and CEO from December 19, 2017[31] to present. Hanson resides in Chicago, IL, where he will create a satellite office to attract fresh talent for Zimmer Biomet in the near future.

Recognition

In 2016, the company was recognized on the Fortune 500 list for the first time, ranking in position #431.[32] Since then, they have ranked on the list for three straight years.[33]

References

  1. 1 2 3 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. 1 2 "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. ↑ Simon, Hermann, Hidden Champions of the 21st Century: Success Strategies of unknown World Market Leaders, London: Springer, 2009, ISBN 978-0-387-98147-5
  7. ↑ "Zimmer Biomet Inc, Form 8-K, Current Report, Filing Date Apr 24, 2014" (PDF). secdatabase.com. Retrieved Apr 25, 2018.
  8. ↑ "Zimmer Biomet Inc, Form 8-K, Current Report, Filing Date Oct 2, 2014". secdatabase.com. Retrieved Apr 25, 2018.
  9. ↑ "Zimmer Biomet Inc, Form 425, Filing Date Mar 30, 2015" (PDF). secdatabase.com. Retrieved Apr 25, 2018.
  10. ↑ "EU regulators open extensive probe into Zimmer, Biomet deal" (Press release). Reuters. 3 October 2014.
  11. ↑ "Zimmer Biomet Inc, Form 10-K, Annual Report, Filing Date Feb 23, 2015" (PDF). secdatabase.com. Retrieved Apr 25, 2018.
  12. ↑ "Zimmer Acquires ETEX Holdings, Inc". investor.zimmerbiomet.com.
  13. ↑ "Zimmer Biomet Acquires Ortho Transmission, LLC and Assets for Pioneering Technology to Restore Limb Amputee Patients". investor.zimmerbiomet.com.
  14. ↑ "Zimmer Biomet Inc, Form 8-K, Current Report, Filing Date Apr 25, 2016". secdatabase.com. Retrieved Apr 25, 2018.
  15. ↑ "Zimmer Biomet Completes Acquisition of Cayenne Medical". investor.zimmerbiomet.com.
  16. ↑ "Zimmer Biomet Inc, Form 8-K, Current Report, Filing Date Jun 7, 2016" (PDF). secdatabase.com. Retrieved Apr 25, 2018.
  17. ↑ "Zimmer Biomet Inc, Form 8-K, Current Report, Filing Date Jul 13, 2016". secdatabase.com. Retrieved Apr 25, 2018.
  18. ↑ "Zimmer Biomet To Acquire LDR To Enhance Innovation And Growth Of Spine Business". investor.zimmerbiomet.com.
  19. ↑ "Zimmer Biomet Inc, Form 8-K, Current Report, Filing Date Aug 15, 2016" (PDF). secdatabase.com. Retrieved Apr 25, 2018.
  20. ↑ "Zimmer Biomet Strengthens Musculoskeletal Diagnostic Offering with Acquisition of CD Diagnostics". investor.zimmerbiomet.com.
  21. ↑ "Zimmer Biomet Adds 3D Range-of-Motion Simulation Capability with Strategic Acquisition of Clinical Graphics". investor.zimmerbiomet.com.
  22. 1 2 "Zimmer Biomet -- Zimmer Launches Offers to Acquire Centerpulse AG and InCentive Capital AG". zimmerbiomet.com.
  23. ↑ "Zimmer Biomet -- Zimmer's Offer To Acquire ORTHOsoft Is Successful". zimmerbiomet.com.
  24. ↑ "Zimmer Biomet -- Zimmer Acquires NORMED Medizin-Technik GmbH". zimmerbiomet.com.
  25. ↑ "Zimmer Biomet -- Zimmer Acquires Knee Creations, LLC's Business". zimmerbiomet.com.
  26. ↑ "Zimmer Biomet -- Zimmer Acquires ETEX Holdings, Inc". zimmerbiomet.com.
  27. ↑ "Zimmer Biomet -- Zimmer Completes Combination with Biomet". zimmerbiomet.com.
  28. 1 2 3 4 5 6 7 "Biomet UK - History of Biomet - A Heritage of Excellence". biomet.co.uk.
  29. ↑ "Zimmer Biomet Leadership Team".
  30. ↑ "Zimmer Biomet Inc, Form 8-K, Current Report, Filing Date Jul 11, 2017" (PDF). secdatabase.com. Retrieved Apr 25, 2018.
  31. 1 2 "Zimmer Biomet Inc, Form 8-K, Current Report, Filing Date Dec 21, 2017". secdatabase.com. Retrieved Apr 25, 2018.
  32. ↑ "Here Are the 15 New Companies Joining the Fortune 500". Fortune. Retrieved 2018-06-06.
  33. ↑ "Zimmer Biomet Holdings". Fortune. Retrieved 2018-06-06.
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