Zimmer Biomet in 2020 — 7 key notes

Carly Behm -   Print  |
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From a $250 million acquisition to a partnership for an Apple Watch platform, here are seven key notes on medical device maker Zimmer Biomet this year.

Zimmer Biomet completed its acquisition of A&E Medical Corp., a cardiothoracic surgery company. The $250 million transaction includes $150 million cash at closing and $100 million cash payable in 2021.

The company partnered with New York City-based Hospital for Special Surgery to commercialize HSS Orthopedic Care Pathways on its Mymobility app with Apple Watch.

Net sales in the third quarter were $1.93 billion, an increase of 2 percent compared to the same time last year.

Zimmer Biomet reported a net loss of $206.6 million in the second quarter and significant sales declines in all categories.

Conformis and Zimmer Biomet agreed to resolve all patent disputes. Zimmer had alleged patent infringement against Conformis, which then filed counterclaims. The companies dismissed outstanding litigation, and in exchange for $9.6 million, Conformis awarded Zimmer "a royalty-free, nonexclusive, worldwide license to certain patents."

The cessation of elective surgeries caused the company to see a net loss of $509 million in the first quarter.

The company recalled a polyethylene orthopedic implant for the knee in Europe due to potentially elevated endotoxin levels. Tests showed three samples exceeded the accepted standards for endotoxin levels during a six-week period.

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