Welcome to our dedicated page for Zimmer Biomet Holdings news (Ticker: ZBH), a resource for investors and traders seeking the latest updates and insights on Zimmer Biomet Holdings stock.
Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH) is a preeminent global leader in musculoskeletal healthcare. Headquartered in Warsaw, Indiana, Zimmer Biomet has been at the forefront of advancing bone and joint health for nearly 90 years. The company designs, manufactures, and markets a comprehensive range of orthopedic implants and surgical equipment, addressing joint reconstruction, bone repair, sports medicine, spine, and dental reconstruction. Its innovative product portfolio includes the ROSA® Robotics systems for knee, hip, and shoulder replacements, and the TMINI Miniature Robotic System for total knee arthroplasty.
Zimmer Biomet's latest endeavors include the establishment of a dedicated Health Equity division in 2023, which aims to integrate health equity into the company's core strategies and operations. This division has already made significant strides by assembling a strategic advisory board and developing the Community Centered Care (C3) framework to increase patient access to quality care in underserved communities.
In addition, Zimmer Biomet has recently partnered with top pickleball organizations in the U.S., underscoring its commitment to joint health and well-being for the growing community of pickleball players. The company also announced a strategic alliance with CBRE Group, Inc. to expand orthopedic ambulatory surgery centers across the country, and a collaboration with RevelAi Health to commercialize AI-powered engagement solutions aimed at advancing value-based orthopedic care and health equity.
Financially, Zimmer Biomet has demonstrated robust performance, with first-quarter 2024 net sales amounting to $1.889 billion, a 3.2% year-over-year increase. The company continues to focus on innovation, operational excellence, and strategic partnerships to drive growth and enhance shareholder value. For more information, visit www.zimmerbiomet.com or follow them on LinkedIn and Twitter.
Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH) has announced a definitive agreement to acquire OrthoGrid Systems, Inc., a privately-held medical technology company specializing in AI-driven surgical guidance systems for total hip replacement. The acquisition includes OrthoGrid's Hip AI® platform, two additional FDA-cleared orthopedic applications, and over 40 patents.
OrthoGrid's fluoroscopy-based surgical guidance system offers real-time X-ray imaging, improving surgical accuracy and efficiency without the need for preoperative CT scans. The Hip AI system provides real-time image analysis, automated measurements, and guidance on optimal cup placement, allowing surgeons to tailor the system to their specific techniques.
The acquisition is expected to close by the end of Q4 2024, subject to customary conditions.
Zimmer Biomet has announced it will webcast its Q2 2024 earnings conference call on August 7, 2024, at 8:30 a.m. ET. The quarterly financial results will be released earlier that day at 6:30 a.m. ET.
The live audio webcast can be accessed via Zimmer Biomet's Investor Relations website, with a replay available post-call. U.S. and Canadian participants can join the call by dialing (888) 204-4368 and using conference ID 5103691, while international participants should dial +1 (323) 994-2093 with the same ID.
Zimmer Biomet has announced the appointment of Devdatt Kurdikar to its Board of Directors, effective immediately. Kurdikar is currently the President, CEO, and a board member of Embecta, a leading diabetes management company. His extensive experience in the medical technology sector includes leadership roles at BD, Cardiac Science, Boston Scientific, and Baxter International. Zimmer Biomet's Chairman, Chris Begley, emphasized the value Kurdikar's expertise will bring as the company advances its strategic priorities. Kurdikar holds advanced degrees in Chemical Engineering and an MBA, and has a strong background in medtech innovation and leadership.
RevelAi Health and Zimmer Biomet have announced a multi-year co-marketing agreement aimed at advancing value-based orthopedic care and health equity through AI-powered technology. Zimmer Biomet will commercialize RevelAi Health's patient care-management platform and additional future products. The partnership focuses on leveraging generative AI to improve clinical workflows, address socio-demographic disparities, and enhance patient engagement. RevelAi Health's platform meets essential CMS requirements and includes a unique patient care management system utilizing text messaging and voice agents. This collaboration aims to ensure equitable, value-based outcomes for all patients, particularly underserved communities.
Zimmer Biomet, a global medical technology leader, announced a distribution agreement with THINK Surgical for the TMINI Miniature Robotic System, a handheld device for total knee arthroplasty. The TMINI system complements Zimmer Biomet's ROSA Robotics portfolio, offering accurate implant placement based on a CT-based surgical plan. This partnership enables Zimmer Biomet to be the first medtech company to offer two robotic systems for knee replacements, catering to surgeon demand for ergonomic and wireless solutions. The TMINI system is aimed at ambulatory surgery centers and outpatient settings, with a U.S. market introduction planned for the second half of 2024.
Zimmer Biomet Holdings, a leading global medical technology company, announced that its management team will present at the Goldman Sachs 45th Annual Healthcare Conference. The presentation is scheduled for June 11, 2024, at 8:40 a.m. ET. The event will be webcast live and accessible through Zimmer Biomet's Investor Relations website, with an option for replay.
Zimmer Biomet presented its long-range plan for 2024-2027 at the 2024 Investor Day, outlining strategies for sustainable growth, profitability, and improved free cash flow generation. The company targets a mid-single-digit percentage constant currency revenue CAGR, adjusted EPS growth at least 1.5 times revenue growth, and free cash flow growing at least 100 basis points faster than adjusted EPS.
Zimmer Biomet also announced a $2 billion stock repurchase program aimed at returning value to shareholders and minimizing dilution. Additionally, a strategic partnership with CBRE has been established to develop orthopedic ambulatory surgery centers (ASC) in the U.S., leveraging both companies' strengths in healthcare technology and commercial real estate.
Overall, Zimmer Biomet aims to drive above-market revenue growth, diversify into higher-growth markets, and utilize strong M&A capabilities to enhance shareholder value.
Zimmer Biomet, a global leader in medical technology, will host its 2024 Investor Day on May 29, 2024, from 1:00 p.m. to 4:30 p.m. ET at the New York Stock Exchange. Key presentations will be given by President and CEO Ivan Tornos and CFO Suky Upadhyay, covering the company's strategic and capital allocation priorities, key initiatives, and long-term financial goals. The event will also feature a surgeon panel discussion and Q&A sessions, followed by a reception and product showcase. In-person attendance requires pre-registration via the company's Investor Relations website. The event will be webcast live, with a replay and presentations available afterward.
Zimmer Biomet Holdings, a medical technology leader, announced a quarterly cash dividend of $0.24 per share for the second quarter of 2024, payable on July 31, 2024.
Zimmer Biomet Holdings, Inc. published its 2023 Sustainability Report highlighting progress in environmental goals, employee engagement, health equity, and quality management. The report showcases the company's commitment to sustainability, including achieving high employee engagement levels, reducing carbon emissions, expanding Zero Waste to Landfill initiative, and maintaining product quality programs. Zimmer Biomet aims to be a leader in responsible business practices and has a roadmap to reach Net-Zero greenhouse gas emissions by 2050.
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