Here are 10 things to know about Zimmer Biomet:
1. Zimmer was founded in 1927 by Justin O. Zimmer in Warsaw, Ind., as an aluminum splint-manufacturing company. Mr. Zimmer's splints guaranteed stability while also allowing x-rays to pass through so that doctors could better asses their patients' healing process.
2. In 1929, Zimmer grew on an international scale when a Scottish surgeon purchased $1,200 worth of splints. By 1930, as the company raked in $200,000 of annual sales, not even the Great Depression could hold Zimmer back.
3. Biomet was founded in 1977 by Dane A. Miller, PhD, Niles L. Noblitt, Jerry L. Ferguson and M. Ray Harroff in Warsaw, Ind. The company recorded net sales of only $17,000 in its first year of operation with a net loss of $63,000. In 1978, Dr. Miller's grandmother became the first patient to receive a Biomet hip implant. By 1980, the company had reached $1.1 million in net sales and broke ground on a new facility.
4. In 1982, Biomet announced its presence on the international stage by acquiring Orthopedic Equipment Company. The move gave Biomet a serious presence in Europe as well as in the U.S. Biomet then went on to introduce PPS porous plasma spray coating in the same year. The spray enhanced biologic fixation between implant and bone and helped Biomet continue its ascent.
5. Zimmer purchased Biomet in 2015 for approximately $13.35 billion. The combined company is headquartered in Warsaw, with regional offices around the world.
6. On January 31, 2017, Zimmer Biomet announced that their 2016 fourth quarter sales rose 4.1 percent over the prior year. In particular, knee product income increased by 20.9 percent, hip product income by 21.8 percent, and spine and CMF sales by 63.7 percent. Analysts predict that the company will see an increase in knee, spine, SET and reconstructive markets.
7. David Dvorak has been the company's President and CEO since 2007. Previously, he had been Group President (Global Businesses) and Chief Legal Officer. Other members of the leadership team include Vice President (Corporate Controller and Chief Accounting Officer) Tony Collins; Vice President (Global Integration) Derek Davis; President (Americas) Robert D. Delp; and Senior Vice President (Global Human Resources) William P. Fisher.
8. One of Zimmer Biomet's featured spine products is the Sequoia Thoracolumbar Pedicle Screw System with the TM Ardis Interbody System. The Sequoia offers the surgeon better surgical flow, speedier implementation, less head splay and added comfort during the spinal fusion operation.
9. Today, the company has over 8,500 employees with a goal to provide orthopedic surgeons and clinicians with effective solutions that will help restore patients' mobility and various injuries.
10. In 2016, Zimmer Biomet acquired LDR, putting it in position to be a leader in the $10 billion global spine market. The acquisition also helped advance Zimmer Biomet's cervical disc replacement segment.
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