1st procedure done with Zimmer Biomet's partial knee robot & 2 more earnings call notes

Carly Behm -   Print  |

Zimmer Biomet posted $1.8 billion in net sales and $246 million in spine and dental sales in the first quarter. The company has its eyes on new product launches as part of its growth plan this year.

Here are three takeaways from CEO Bryan Hanson about the company's performance during a May 4 first quarter earnings call, as transcribed by The Motley Fool.

NewCo: Plans for Zimmer Biomet's spin and dental spinoff company, NewCo, were first announced Feb. 5. The spinoff is part of Zimmer Biomet's long-term growth, according to Mr. Hanson.

"We've said before, we'll say it again that the spin-off of NewCo actually serves to de-risk and potentially accelerate our path to mid-single-digit growth and a best-in-class 30 percent operating margin profile by the end of 2023 and we're confident that throughout this process and as we achieve this growth in margin profile, we're also going to have the flexibility to reinvest for growth, and that is a key thing for us," he said.

Rosa Knee: The first procedure with the newly FDA-cleared Rosa partial knee system was completed, according to Mr. Hanson. He also indicated continued momentum in the Rosa platform since the end of last year.

"If I just look at Rosa overall in the quarter, we continue to see strong market demand traction with our Rosa platform," he said. "The fourth quarter performance was fantastic, and that continued right into the first quarter both in the U.S. and internationally, and our forward-looking robotics pipeline is very robust. I can tell you that given our market share in partial knee, the partial application is only going to serve to bolster that going forward."

Persona iQ: Mr. Hanson said he anticipates launching Persona iQ and Rosa Hip in 2021. The Persona iQ in particular is already generating buzz, and the company is awaiting FDA approval.

"For Persona iQ, the initial feedback from evaluating surgeons has been very positive," he said. "I can tell you that they're interested in being able to capture data from inside the body. I mean this is unique. They've not been able to do this before. And then ultimately, remotely monitoring those data the hope would be that using that information to change the way that we care for patients. So the excitement around this is very strong from our surgeons."

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