Zimmer Biomet sees robotic progress, executive exit: 5 Q1 earnings call notes

Spinal Tech

Zimmer Biomet is kicking off the year strong with first quarter sales growth and progress with its newer technologies, according to a May 2 earnings call.

Five things to know:

1. Keri Mattox, senior vice president and chief communications and administration officer, is leaving Zimmer Biomet by the end of May, CEO Ivan Tornos said, as transcribed by Seeking Alpha. She has been with the company for more than four years.

2. Zimmer Biomet's restructuring program, which included a 3% reduction in staff, has been implemented with no major disruptions, Mr. Tornos said.

"We have realized substantial benefits for this initiative, including realizing cost savings earlier than initially expected, as well as achieving increased operational agility and enhanced accountability," Mr. Tornos said in the earnings call.

3. Mr. Tornos said initial feedback for the Rosa Shoulder robot, which debuted in April, was "very solid." He said the learning curve was short for surgeons, and that he expects to see the real impact of the robot closer to the end of 2024.

4. Globally, the Rosa robots are becoming the preferred option in several markets outside the U.S., Mr. Tornos said. About one-third of U.S. installations are in the ASC. 

5. Rollout for the Persona IQ smart knee replacement implant is "moving in the right direction" and accelerating, Mr. Tornos said. A shorter stem version of the implant now has FDA 510(k) approval. Another area gaining traction is the new Recovery Curves platform for patient outcomes data exclusive to Persona IQ, Mr. Tornos said.

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