Zimmer Biomet Holdings, Inc. - ZBH STOCK NEWS

Zimmer Biomet (ZBH) announced a definitive agreement to acquire Embody, Inc. for $155 million at closing and up to an additional $120 million based on future milestones. This acquisition aims to enhance Zimmer Biomet's sports medicine portfolio, notably through Embody's collagen-based solutions for orthopedic injuries, including the TAPESTRY^® implants. The deal is expected to drive revenue growth while being slightly dilutive to adjusted earnings per share in 2023. Completion is anticipated in February 2023.

Zimmer Biomet Holdings (ZBH) has declared a quarterly cash dividend of $0.24 per share for Q4 2022, payable on January 31, 2023, to stockholders on record as of December 27, 2022. This decision reflects the company's commitment to returning value to its investors and underscores its financial stability. With a rich history of over 90 years in the medical technology sector, Zimmer Biomet continues to innovate and expand its product offerings globally.

Zimmer Biomet Holdings (NYSE: ZBH) announces its participation in two significant conferences. Members of the Executive Management Team will present at the Goldman Sachs CEOs Unscripted Conference on January 5, 2023, at 11:25 a.m. ET, and at the 41st Annual J.P. Morgan Healthcare Conference on January 10, 2023, at 3:45 p.m. PT / 6:45 p.m. ET. A live webcast will be available on the company's Investor Relations website and archived for later access.

Zimmer Biomet's recent one-year study confirms that the mymobility platform using Apple Watch provides comparable outcomes to traditional care for knee replacement patients. The study, involving 401 patients, indicates significant reductions in outpatient physical therapy visits and emergency department visits related to surgery. Key results include a 60.6% rate of post-operative PT among mymobility users versus 94.6% in the control group, and a 1.3% surgery-related ED visit rate compared to 5.4% for controls. These findings, presented at the AAHKS annual meeting, may suggest cost-saving potential in patient care.

Zimmer Biomet reported Q3 net sales of $1.670 billion, down 0.9% but up 5.0% on a constant currency basis. Diluted EPS from continuing operations was $0.92, while adjusted diluted EPS was $1.58. The company raised its 2022 financial guidance, with projected revenue growth tightened to 0%-1% and adjusted diluted EPS forecasted at $6.80-$6.90. Notable developments include an AI partnership with Hospital for Special Surgery and FDA clearance for the Identity Shoulder System.

The 13th Annual National Caucus, organized by Movement is Life, will take place on November 10-11, 2022, in Washington, DC. This event aims to address joint pain and health disparities involving patients, community leaders, and healthcare providers. Zimmer Biomet, the founding partner, is making a multi-million-dollar commitment to support initiatives like The Value Project and Operation Change to enhance health equity. The caucus seeks to develop actionable plans to tackle barriers affecting those with joint pain, particularly among marginalized groups.

Zimmer Biomet Holdings (ZBH) will host its third quarter earnings conference call on November 2, 2022, at 8:30 a.m. ET. A detailed news release regarding the quarterly results will be published that same day at 6:30 a.m. ET. Investors can access the live audio webcast via Zimmer Biomet's Investor Relations website, which will also archive the call for later playback. Participants can join the call by dialing (888) 312-9837 and using conference ID 7278985.

Zimmer Biomet (ZBH) announced FDA 510(k) clearance for its Identity™ Shoulder System, designed for anatomic, reverse, and revision shoulder replacements. This system allows surgeons to tailor surgical plans to individual patient anatomy, aiming to enhance pain relief and range of motion. The innovative design provides eight humeral tray combinations and 5mm additional joint space for possible future revisions. With this clearance, Zimmer Biomet strengthens its Sports Medicine and Extremities portfolio, reinforcing its position as a leader in medical technology.

Zimmer Biomet announced a multi-year co-marketing agreement with Surgical Planning Associates to commercialize HipInsight™, the first FDA-cleared mixed reality navigation system for hip replacements. Using Microsoft HoloLens 2, surgeons can visualize patient-specific anatomy during procedures, enhancing accuracy in implant placement. This technology integrates with Zimmer Biomet's hip implant portfolio and aims to improve surgical outcomes. The partnership highlights Zimmer Biomet's commitment to innovative medical technology.