Zimmer Biomet

Zimmer Biomet Holdings, Inc.

File:Zimmer Biomet logo.svg Logo of Zimmer Biomet Holdings, Inc.
Company type	Public
Industry	Medical device manufacturing
Founded	January 1, 1927 (1927-01-01) in Warsaw, Indiana, United States
Founder	Justin O. Zimmer
Headquarters	Warsaw , United States
Area served	Worldwide (over 100 markets)
Key people	Ivan Tornos (President and CEO)
Products	Orthopedic solutions including artificial joints for knees, hips, shoulders, elbows, feet, ankles; dental prosthetics; ROSA Robotics systems
Number of employees	18,000 (2023)
Website	www.zimmerbiomet.com

Zimmer Biomet Holdings, Inc. is a publicly listed American company specializing in medical device manufacturing, originally established in 1927 to produce aluminum splints. Based in Warsaw, Indiana, it is part of a leading medical devices business cluster.

Zimmer became an independent entity from Bristol Myers Squibb in 2001 and started trading on the New York Stock Exchange with the ticker "ZMH". The company grew through strategic acquisitions such as ExtraOrtho, Inc. in 2011 and Synvasive Technology, Inc. in 2012. After acquiring Biomet, the stock symbol was updated to "ZBH" in June 2015.

On January 12, 2017, Zimmer Biomet reached a settlement with the DOJ and the SEC, agreeing to a $30.5 million penalty that did not affect its financial projections for 2017.

History

Founded in 1927 by Justin O. Zimmer (1884–1951) in Warsaw, Indiana, Zimmer Biomet has evolved significantly over the decades.

On April 24, 2014, Zimmer announced its plan to acquire Biomet Inc. for $13.4 billion. The European Union’s antitrust authorities initiated an inquiry into the transaction in October 2014 due to competition concerns. After receiving conditional approval from the European Commission in March 2016, Zimmer finalized the merger on June 24, 2015, creating Zimmer Biomet Holdings.

In October 2014, Zimmer Biomet declared its intent to purchase ETEX Holdings, Inc. This was followed by the acquisition of Ortho Transmission, LLC in March 2016 and sports medicine firm Cayenne Medical, Inc. later that year. Also in 2016, Zimmer Biomet acquired LDR Holding Corporation for $1 billion ($37 per share), incorporating it into its Spine division. Additional purchases during that year included French surgical robotics company Medtech, Delaware-based diagnostics firm CD Diagnostics, and Clinical Graphics, B.V., enhancing its capabilities in musculoskeletal diagnostics and three-dimensional range-of-motion simulation.

The Justin Zimmer House located in Warsaw is recognized on the National Register of Historic Places.

In January 2023, Zimmer Biomet revealed plans to acquire Embody, Inc. for $155 million plus potential earn-outs. By August 2024, the company announced its intention to acquire OrthoGrid Systems, an AI-driven surgical guidance enterprise aimed at strengthening its hip replacement market share.

Products

Zimmer develops, manufactures, and markets orthopedic solutions including artificial joints for knees, hips, shoulders, elbows, feet, and ankles alongside dental prosthetics. In 2024, it introduced the ROSA Shoulder system—the world’s first robotic technology designed specifically for shoulder replacement surgery—marking the fourth addition to its ROSA Robotics lineup that also covers total knee and hip arthroplasty procedures. Zimmer operates across more than 40 countries and distributes products globally in over 100 markets.

Acquisition history

Significant mergers and acquisitions by Zimmer Biomet include:

• Zimmer Biomet
  • Zimmer Biomet
    • Zimmer, Inc
      • Centerpulse AG (Acq 2003)
      • InCentive Capital AG (Acq 2003)
      • ORTHOsoft Inc (Acq 2007)
      • Medizin-Technik GmbH(Acq 2013)
      • Knee Creations, LLC (Acq 2013)
      • ETEX Holdings, Inc (Acq 2014)
    • Biomet, Inc
      • Orthopedic Equipment Company (Acq 1984)
      • Electro-Biology, Inc (Acq 1988)
      • Arrow Surgical Technologies (Acq 1990; renamed Biomet Sports Medicine)
      • W. Lorenz Surgical, Inc (Acq 1992)
      • Kirschner Medical Corporation (Acq 1994)
      • Innovations, Inc (Acq 1999)
      • Biomet-Merck Joint Venture (Acq 2004; renamed Biomet Europe Group)
  • Ortho Transmission, LLC (Acq 2016)
  • Cayenne Medical, Inc. (Acq 2016)
  • LDR Holding Corporation (Acq 2016)
  • CD Diagnostics (Acq 2016)
  • Clinical Graphics, B.V. (Acq 2016)
  • A&E Medical Corporation (Acq 2020)
  • Embody, Inc. (Acq 2023)
  • OrthoGrid Systems (Acq 2024)

Company information

In 2023, Zimmer reported sales of nearly $7.4 billion and employed approximately 18,000 individuals worldwide.

Executive leadership

• Raymond Elliott held the roles of president and CEO from August 2001 until May 2007.
• David C. Dvorak assumed the positions of president and CEO from May 1, 2007, through July 11, 2017.
• Dan Florin acted as interim president and CEO between July and December 2017.
• Bryan C. Hanson served as president and CEO from December 2017 until August 22, 2023.
• Since August 22, 2023, Ivan Tornos has been serving as president and CEO.

Accolades

Zimmer Biomet first appeared on the Fortune 500 list in 2016 at position #431, maintaining its presence for three consecutive years. By 2018, the company had advanced to #361, highlighting its expanding market influence and improved financial results.

Controversies

Amid the 2022 Russian invasion of Ukraine, Zimmer Biomet continued its business activities within Russia. An April 2022 study conducted by Yale University identified the company among those that did not cease operations despite widespread corporate pullouts.

Advocacy efforts

Zimmer Biomet collaborates with the Human Rights Campaign, a leading LGBT advocacy group, underscoring its dedication to fostering diversity and inclusion programs.