Zimmer Biomet’s outlook was deemed stable due to its market position in knee and hip orthopedics, sports medicine, extremities, trauma, craniomaxillofacial and thoracic, according to a July 12 news release.
Along with its market shares, Zimmer Biomet is also expecting to introduce 50 robotics products over the next four years, with three-quarters of the products targeting 4%+ growth markets.
“BBB” is the fourth-highest issuer default rating given out by Fitch, which represents good credit quality and a low expectation of a company defaulting.
The rating assumes Zimmer Biomet will see mid-single-digit annual revenue growth, gradual EBITDA margin expansion, effective interest rate to increase to 4% and small mergers and acquisitions with common dividends staying flat and share repurchases of over $500 million annually.
The ratings were applied to approximately $6 billion of debt as of March 31, the release said.
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.
