Zimmer Biomet Foundation Launches, Supporting Diverse and Underserved Communities, STEM Education, Community Health and Disaster Relief

Rhea-AI Summary

Zimmer Biomet Holdings (NYSE: ZBH) has launched the Zimmer Biomet Foundation, a philanthropic organization aimed at supporting diverse and underserved communities. The Foundation will focus on STEM education, community health, and disaster relief. Zimmer Biomet pledges $2 million over three years in partnership with the NAACP to combat racial injustice and promote diversity. This initiative is part of a larger commitment of at least $5 million over five years towards anti-racism and diversity efforts. The Foundation will also match employee contributions to non-profits.

Positive

• Launch of Zimmer Biomet Foundation to support underserved communities with a focus on STEM, health, and disaster relief.
• Commitment of $2 million over three years to the NAACP to combat racial injustice.
• Part of a broader $5 million commitment over five years towards anti-racism and diversity initiatives.

Negative

• None.

WARSAW, Ind., Dec. 1, 2020 /PRNewswire/ -- Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH), a global leader in musculoskeletal healthcare, today officially launched the Zimmer Biomet Foundation.  The Foundation is a philanthropic 501(c)(3) organization that further strengthens the Company's ongoing commitment to empowering diverse and underserved communities, supporting STEM education, enabling community health and providing disaster relief.  The Foundation also builds on Zimmer Biomet's long-standing corporate support of local, global and healthcare communities, including donations of Zimmer Biomet products, medical education and training and the Company's foundational work to address musculoskeletal health disparities through the "Movement is Life" initiative.

The Zimmer Biomet Foundation is also announcing today a partnership with the National Association for the Advancement of Colored People (NAACP) Empowerment Programs, Inc., the 501(c)(3) arm of the leading civil rights organization. Through the Foundation, Zimmer Biomet is committing $2 million over the next three years to support partnered efforts with NAACP to end racial injustice and advance diversity and equality.  This is part of the broader commitment made by Zimmer Biomet earlier this year to donate at least $5 million over the next five years to non-profit organizations that focus on anti-racism efforts and diversity, equity and inclusion efforts.  It is also the first in a series of actions to support initiatives against hatred, discrimination and injustice that drive positive change both inside Zimmer Biomet and around the globe.

"Zimmer Biomet's mission is to alleviate pain and improve quality of life.  Through the Zimmer Biomet Foundation, we are working to deliver on that mission by funding comprehensive programs that foster STEM education, building healthy communities, providing disaster relief and addressing the inequities and disparities that still cause suffering around the world," said Bryan Hanson, President and CEO of Zimmer Biomet. "Earlier this year, we also chose to stand with the millions in the United States and abroad who have built a united front against hatred, discrimination and injustice.  By partnering with the NAACP, we have a unique opportunity to put our beliefs into action and support initiatives that show the many ways that diversity and tolerance make all of us stronger."

The Zimmer Biomet Foundation partnership with the NAACP will include support for public health work conducted by local NAACP chapters across the country, as well as funding for the establishment of the first NAACP Black Opportunity Index, which will serve as a valuable resource for addressing healthcare disparities and expanding medical access to underserved communities.  More information about these programs will be available in early 2021.

"The Zimmer Biomet Foundation's generous commitment furthers the NAACP's efforts to dismantle racial injustice and discrimination – including the health disparities faced by Black Americans and other minority communities within the United States," said Derrick Johnson, President and CEO of the NAACP.  "We believe that all people deserve equal and optimal health outcomes and access to timely, quality and affordable healthcare – regardless of their race, culture or creed. We are proud to partner with global organizations like Zimmer Biomet who share our vision of a more just and equitable world."

Beyond the partnership with the NAACP, support from the Zimmer Biomet Foundation will help provide financial resources for organizations that share Zimmer Biomet's commitment to fostering healthy communities, advancing STEM education, providing disaster relief and reducing health disparities.  The Foundation will also match Zimmer Biomet employee contributions to all non-profit organizations, another of the public commitments recently made by Zimmer Biomet.

Additionally, the Zimmer Biomet Foundation is expanding its team member programs with the introduction of the ZB Scholarship Fund for employee dependents, the Team Member Relief Fund and the company's volunteer match and volunteer time off programs.  To learn more about the Zimmer Biomet Foundation, Zimmer Biomet's philanthropic efforts, and the company's commitments to stand against hatred, discrimination and injustice, visit www.zimmerbiomet.com/philanthropy.

About Zimmer Biomet

Founded in 1927 and headquartered in Warsaw, Indiana, Zimmer Biomet is a global leader in musculoskeletal healthcare. We design, manufacture and market orthopedic reconstructive products; sports medicine, biologics, extremities and trauma products; office-based technologies; spine, craniomaxillofacial and thoracic products; dental implants; and related surgical products.

We collaborate with healthcare professionals around the globe to advance the pace of innovation. Our products and solutions help treat patients suffering from disorders of, or injuries to, bones, joints or supporting soft tissues. Together with healthcare professionals, we help millions of people live better lives.

We have operations in more than 25 countries around the world and sell products in more than 100 countries. For more information, visit www.zimmerbiomet.com or follow Zimmer Biomet on Twitter at www.twitter.com/zimmerbiomet.

About NAACP

Founded in 1909 in response to the ongoing violence against Black people around the country, the NAACP (National Association for the Advancement of Colored People) is the largest and most pre-eminent civil rights organization in the nation. We have over 2,200 units and branches across the nation, along with well over 2M activists. Our mission is to secure the political, educational, social, and economic equality of rights in order to eliminate race-based discrimination and ensure the health and well-being of all persons.

Cautionary Statement Regarding Forward-Looking Statements

This news release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  Forward-looking statements include, but are not limited to, statements concerning Zimmer Biomet's expectations, plans, prospects, and product and service offerings, including new product launches and potential clinical successes.  Such statements are based upon the current beliefs and expectations of management and are subject to significant risks, uncertainties and changes in circumstances that could cause actual outcomes and results to differ materially.  For a list and description of some of such risks and uncertainties, see Zimmer Biomet's periodic reports filed with the U.S. Securities and Exchange Commission (SEC).  These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in Zimmer Biomet's filings with the SEC.  Forward-looking statements speak only as of the date they are made, and Zimmer Biomet disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.  Readers of this news release are cautioned not to rely on these forward-looking statements, since there can be no assurance that these forward-looking statements will prove to be accurate.  This cautionary statement is applicable to all forward-looking statements contained in this news release.

ZBH-Corp

Contacts:
Zimmer Biomet Media	NAACP Media
Monica Kendrick	Marc Banks
574-527-3634	404-849-3189
monica.kendrick@zimmerbiomet.com	dbanks@naacpnet.org
Zimmer Biomet Investors
Ezgi Yagci
617-549-2443
ezgi.yagci@zimmerbiomet.com

 

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SOURCE Zimmer Biomet Holdings, Inc.

FAQ

What is the Zimmer Biomet Foundation?

The Zimmer Biomet Foundation is a philanthropic organization launched by Zimmer Biomet Holdings to support diverse and underserved communities through initiatives focused on STEM education, community health, and disaster relief.

How much is Zimmer Biomet committing to the NAACP?

Zimmer Biomet is committing $2 million over the next three years to support efforts with the NAACP to combat racial injustice and advance diversity.

What is the total commitment of Zimmer Biomet towards diversity and anti-racism efforts?

Zimmer Biomet has committed at least $5 million over the next five years to various non-profit organizations focusing on anti-racism efforts and diversity.

When was the Zimmer Biomet Foundation launched?

The Zimmer Biomet Foundation was officially launched on December 1, 2020.

What initiatives will the Zimmer Biomet Foundation support?

The Foundation will support programs in STEM education, community health, disaster relief, and efforts to reduce health disparities.