Four things to know:
1. Net sales fell 10.6 percent year-over-year, according to a company news release. The sales decrease includes a $1 million loss due to a one-day closing of the company’s Palm Beach Gardens, Fla. dental facility during Hurricane Ian.
2. Third party spine sales of $108.2 million represents a 16.4 percent year-over-year decrease. That was driven by the exit of some “unprofitable” markets in late 2021 and the discontinuation of some products.
3. Net income was $800,000, compared to a net loss of $30.2 million in the third quarter of 2021.
4. ZimVie reaffirmed its 2022 financial guidance of $915 to $930 million and expects the dental segment to see mid-single digit growth.
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.
