Zimmer Biomet

#622

Rank

$29.86B

MarketCap US

US United States

Country

Summary

Zimmer Biomet designs, develops, manufactures, and markets orthopedic reconstructive and spinal products.Zimmer Biomet designs, develops, manufactures and markets orthopedic reconstructive, spinal and trauma devices, dental implants, and related surgical products. It also offers a complete portfolio of products for sports medicine, joint reconstruction, dental reconstruction, spine, and bone & skeletal repair.Zimmer Biomet is driven by a missionto help you or your loved ones live a better life. Whether you’re searching for a clinician or want to learn more about our products, we’ve got you covered.Zimmer Biomet was founded in 1927 and is headquartered in Indiana, USA.


History

1927: In 1927, Zimmer would go on to start his own orthopedic company due to his frustrations with the lack of advancement in technology. Zimmer Biomet has been based in Warsaw since it was founded in 1927.

1928: In 1928, the company developed a fracture bed with a system to support patients while hospital sheets were changed, and the company embraced the international market early in its history with the first order coming from a surgeon in Scotland. 1928: Zimmer lands its first international customer.

1930: In 1930, sales topped $200,000.

1942: 1942: Sales reach $1 million.

1960: By 1960, Zimmer's annual sales were $4 million, and its foreign sales increased with the opening of an Export Department within the company.

1970: In 1970, total employment at Zimmer reached 522 people and sales were $27.2 million.

1978: Ranging in age from only 26 to 31, the four entrepreneurs quit their jobs in 1978 to start Biomet.

1980: Although Biomet had only $17,000 in sales during its first year of operation and lost a total of $63,000, by 1980 the struggling enterprise was turning a meager profit. Biomet's second major product innovation occurred in 1980, when it introduced the metal-backed acetabular cup.

1983: Zimmer's parent company, Bristol-Myers, began offering research grants under the Orthopedic Research and Education Foundation in 1983.

1984: By 1984 annual sales had grown to $10.6 million and earnings topped a healthy $1.6 million.

1988: Sales continued to swell through 1988, when the company purchased New Jersey-based Electronic-Biology Inc. (EBI), which develops and produces devices that stimulate bone growth.

1989: In 1989, for example, Biomet technicians began utilizing computer-aided-design (CAD) systems to create three-dimensional images of diseased and damaged joints. After posting its $1.6 million profit in 1984, Biomet entered a sustained period of steady, rapid growth that soon earned the company international recognition within the industry. As a result of this important acquisition, Biomet's 1989 revenues leapt to $136 million, of which one-third was contributed by EBI.

1994: Under the plan proposed by the Clinton administration in 1994, companies like Biomet would have to seek federal approval of new innovations because the government would choose those technologies that could be purchased by health care providers.

2000: With more than 3,200 employees and $1 billion in sales, Zimmer's results for 2000 showed continued growth for the company and its products.

2001: The company's products by 2001 included knee implants, hip implants, and fracture management products, as well as other surgical products, including tourniquets, blood management systems, and orthopedic soft goods. In the third quarter of 2001, Zimmer's first quarter as an independent publicly traded company, the company increased sales by 14 percent worldwide and 22 percent in North and South America.

2002: In 2002, a former DePuy distributor, Rod Mayer, along with three partners founded Deo Volente Orthopedics (DVO) in a small building on Winona Avenue in Warsaw.

2010: The United States Census Bureau estimated that the number of people over 65 would increase to 39.7 billion by 2010.

2013: In 2013, Nextremity Solutions moved its corporate headquarters from Red Bank, NJ to 210 North Buffalo St in Warsaw.

2014: On April 24, 2014, it was announced that Zimmer had agreed to purchase Biomet Inc. for $13.4 billion. In October 2014, the company announced it would acquire ETEX Holdings, Inc.

2015: Tornier went on to merge with Wright Medical in 2015 and has retained the Warsaw location as the headquarters for Upper Extremity R&D.

2016: 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.


Mission

To alleviate pain and improve the quality of life for people around the world.


Key Team

Bryan C. Hanson (Chairman, President & Chief Executive Officer)

Justin Zimmer (Founder)

Arthur Joseph Higgins (Board Member)

Angela Main (VP/Chief Ethics & Compliance Ofcr)

Betsy J. Bernard (Board Member)

Arthur Joseph Higgins (Board Member)

Christopher B. Begley (Board Member)

Benjamin Kwak (VP, Global Compliance Functions and Deputy Chief Compliance Officer)

Gail K. Boudreaux (Board Member)

Betsy J. Bernard (Board Member)

Larry C. Glasscock (Board Member)

Blaine Dart (Vice President, Compliance Officer)

Maria Teresa Hilado (Retired Executive Vice President and Chief Financial Officer)

Carrie A. Nichol (Chief Accounting Officer, Controller & VP)

Mathias Gubler (Board Member)

Bryan Huffman (Founder)

Michael J. Farrell (Board Member)

J. J. Ettinger (Founder)

Michael W. Michelson (Board Member)

Justin Zimmer (Founder)


Recognition and Awards
Fortune 500

References
Zimmer Biomet
Leadership team

Bryan Huffman (Founder)

J. J. Ettinger (Founder)

Number of Employees
1,000 - 20,000
Headquarters
Warsaw, Indiana, United States
Established
1927
Company Registration
SEC CIK number: 0001136869
Net Income
100M - 500M
Revenue
Above - 1B
Traded as
ZBH
Social Media
Sun Mar 03 2024
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