Zimmer Biomet Archives - Medical Design Sourcing

FDA clears Rosa Shoulder robotic surgery system from Zimmer Biomet

The Rosa surgical robot. [Image from Zimmer Biomet]Zimmer Biomet (NYSE: ZBH) + announced today that it received FDA 510(k) clearance for its Rosa Shoulder robotic assisted surgery system.

The company says this marks the clearance of the world’s first robotic surgery system for shoulder replacement. It’s also the fourth application for the Rosa portfolio, which includes the Rosa Knee and Rosa Hip.

Zimmer Biomet said in a news release that Rosa Shoulder strengthens its shoulder implant portfolio. That includes the Identity Shoulder system and joins the ZBEdge Dynamic Intelligence platform. ZBEdge enhances the company’s digital technologies, robotics and implant solutions.

The company designed Rosa Shoulder to give surgeons the flexibility to execute total shoulder replacement using anatomic or reverse techniques. It enables precise placement for improved outcomes. According to Zimmer Biomet, it̵…

Zimmer Biomet signs health equity pledge

Zimmer Biomet announced today that it signed the Global Health Equity Network’s (GHEN) Zero Health Gaps Pledge.

This pledge marks a commitment from CEOs across industries and regions to embed health equity in core strategies, operations and investments. A number of medtech companies, including Medtronic, Fresenius, Henry Schein, Hologic and Philips previously signed this pledge.

Zimmer Biomet established a Health Equity division as part of an effort to make strides in that area. It aims to understand the drivers of disparities in orthopedic care and forge partnerships to collaborate on solutions to reduce inequities. The company wants to establish clear measures to track its progress against short- and long-term goals.

“I am proud to sign the Zero Health Gaps Pledge to affirm Zimmer Biomet’s decades-long commitment to tackling musculoskeletal health disparities and hold ourselves accountable on the global stage for driving measurable an…

Zimmer Biomet stock dips despite Street-beating Q4

Zimmer Biomet (NYSE: ZBH) + shares slipped this morning despite fourth-quarter results that topped the consensus forecast.

Shares of ZBH shares fell 4.5% at $121.79 apiece in early-morning trading. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — dipped 0.3%.

The Warsaw, Indiana-based orthopedic giant posted profits of $419.2 million in the quarter. That amounts to $2.01 per share on sales of $1.94 billion for the three months ended Dec. 31, 2023.

Zimmer Biomet recorded a massive bottom-line gain compared to losses of $130.5 million in the same period last year. It posted sales growth of 6.3% year-over-year.

Adjusted to exclude one-time items, earnings per share totaled $2.20, landing 5¢ ahead of Wall Street projections. Zimmer Biomet narrowly topped expectations of $1.93 billion in revenue, too.

“We are pleased to conclude a…

Zimmer Biomet adds longtime orthopedic hospital leader to its board

Zimmer Biomet (NYSE: ZBH) + announced today that it appointed Louis A. Shapiro to its board of directors, effective immediately.

Shapiro previously served as president and CEO of the Hospital for Special Surgery (HSS). HSS, an academic center focused on musculoskeletal health, held the No. 1 ranking in U.S. orthopedic hospitals for 14 years in a row, as selected by U.S. News & World Report. It held the No. 1 spot in worldwide orthopedic hospitals ranked by Newsweek for the past four consecutive years.

He spent 17 years at HSS, joining as president and CEO in October 2006 before retiring in October 2023. Before joining HSS, Shapiro worked at Geisinger Health System from 2002 to 2006. There, he held a number of positions, ultimately serving as EVP and COO of the Clinical Enterprise.

Additionally, Shapiro served as a senior healthcare expert and consultant at McKinsey & Co. from 1999-2002. He held a number …

The top medtech trends of 2023

The top medtech trends of 2023 included innovations such as artificial intelligence, new GLP-1 weight loss drugs and some long-awaited medtech finally receiving regulatory nods.

With health providers facing additional challenges on top of an ever-uncertain economic environment, medtech companies also made major readjustments: layoffs, spinoffs, reorganizations and much more.

Here are the top stories that caught the attention of MassDevice readers and editors in 2023.

Top 2023 medtech trend No. 10: Questions about GLP-1 drugs

U.S. health providers wrote more than 9 million prescriptions in just three months for Wegovy, Ozempic and similar glucagon-like peptide-1 (GLP-1) weight loss drugs, according to analytics firm Trilliant Health. The popularity and initial effectiveness of the new drugs had medtech industry analysts asking a lot of questions about how the potential health benefits could reduce demand for devices. Medical device executives, however, we…

Zimmer Biomet stock dips on lowered sales guidance despite Q3 beats

Zimmer Biomet (NYSE: ZBH) + shares fell today on third-quarter results that came in ahead of the consensus forecast.

Shares of ZBH were down 3.1% at $105.93 apiece in early-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — fell slightly.

The Warsaw, Indiana–based orthopedic giant posted profits of $162.7 million in the quarter. That equals 77¢ per share on sales of $1.753 billion for the three months ended Sept. 30, 2023. Zimmer Biomet recorded a 16.1% bottom-line slide on sales growth of 5%.

Adjusted to exclude one-time items, earnings per share totaled $1.65, a nickel ahead of expectations on Wall Street. The company narrowly topped sales projections of $1.75 billion flat, too.

Zimmer Biomet went through a series of changes during the quarter after the departure of CEO Bryan Hanson, who left for the corner office a…

How Medtronic, Zimmer Biomet and Smith+Nephew approach medtech M&A

From left, Geoff Martha, Rachel Ellingson and Deepak Nath spoke on a panel about M&A.

In a year with some massive acquisitions in medtech, there are still questions around an overall drop in M&A activity.

According to Pete Cataldo, managing director and medtech head of Truist, deal volume in the sector fell 65% in the first half of 2023. However, despite high interest rates and a volatile stock market, there appears to remain a market for medtech M&A.

For instance, this year brought the merger of orthopedic giants Globus Medical and Nuvasive and Johnson & Johnson’s $16.6 billion acquisition of Abiomed.

The possibilities for M&A are still there, and some of medtech’s biggest names are taking different approaches.

At AdvaMed’s The MedTech Conference, Cataldo moderated a panel called “Medtech M&A: Trends, Strategies, and Opportunities.” It featured Medtronic CEO Geoff Martha, Zimmer Biomet SVP and…

Zimmer Biomet makes a handful of executive changes under new CEO

From left: New Zimmer Biomet executive leadership team members Wilfred van Zuile, Mark Bezjack and Nitin Goyal.

Zimmer Biomet (NYSE: ZBH) + announced today that it made a number of updates to its executive leadership team.

The changes follow the recent appointment of Ivan Tornos to CEO after Bryan Hanson left for the corner office at 3M Healthcare.

Amid the changes, Zimmer Biomet named Wilfred van Zuilen group president, EMEA, and promoted Mark Bezjack to president of the Americas. Warsaw, Indiana-based Zimmer Biomet also added Chief Science, Technology and Innovation Officer Dr. Nitin Goyal to its executive leadership team. All appointments report directly to Tornos.

“The expansion of Zimmer Biomet’s executive leadership team coincides with our renewed focus on commercial execution and innovation to drive the Company forward,” said Tornos. “These appointments demonstrate the continued ev…

Zimmer Biomet CEO leaves to take over another big medtech

Bryan Hanson will take over 3M’s soon-to-be independent healthcare business. [Image courtesy of 3M]Bryan Hanson has left the corner office of ortho tech giant Zimmer Biomet to become CEO of the soon-to-be-independent healthcare business at 3M, the companies announced today.

Hanson takes over 3M’s healthcare business on Sept. 1.

“I have a deep respect and admiration for what 3M has built in health care — strong brands, quality products, commercial excellence, and customer-driven innovation. I look forward to working with the team to more deeply understand and realize the potential of our business as we accelerate our path forward, and build on a legacy of trusted leadership and medical innovation,” Hanson said in a 3M news release.

Zimmer Biomet is promoting its COO Ivan Tornos to become its new CEO.

“I am grateful for Bryan’s leadership in transforming the company and am now looking forward to leading the team and accele…

The 10 largest orthopedic device companies in the world

The goal of Stryker’s Mako robotic-arm assisted surgery is to provide more predictable outcomes. [Image courtesy of Stryker] Two of the world’s largest orthopedic device companies expect accelerated revenue growth this year.

Stryker (NYSE: SYK) + and Zimmer Biomet (NYSE: ZBH) + both upped their 2023 guidance during recent earnings calls, a sign that orthopedic procedures are bouncing back from the COVID-19 pandemic.

GlobalData predicted earlier this year that the recovery will lift the ortho devices market to nearly $50 billion this year. The question is whether companies can continue the momentum. Stryker and ZB are betting on innovation, building arrays of products and services around their surgical robotics systems and surgical planning and digital health tools.

During Zimmer Biomet’s second-quarter earnings call, CEO Bryan Hanson noted that ZB has 40 planned product …

Zimmer Biomet beats The Street in Q2 — but it may not be enough

Zimmer Biomet (NYSE: ZBH) + today reported second-quarter results that beat Wall Street’s analysts’ expectations, again upping its guidance for the year.

“We’re pretty happy about the results we get to discuss today,” CEO Bryan Hanson told analysts. He added that the Warsaw, Indiana–based orthopedic device giant achieved its results in the face of significant macroeconomic challenges affecting the entire market.

The Q2 beat, however, may have not been enough for The Street. ZBH shares were down more than 5% to $130.71 apiece in morning trading. MassDevice‘s MedTech 100 Index, which includes stocks of the world’s largest medical device companies, was down slightly.

Truist analysts Richard Newitter, Samuel Brodovsky and Lin Zhang thought the Q2 results were good but “might not be enough on elevated ‘utilization’ expects.”

Zimmer Biomet earned…

First clinical case performed with NeuroOne Evo sEEG, Zimmer Biomet Rosa One Brain

The Evo sEEG [Photo courtesy of NeuroOne]NeuroOne Medical Technologies (Nasdaq:NMTC) today announced the first clinical case performed with its Evo sEEG in robotic neurosurgery.

Dr. William Bingaman performed the procedure with the electrode — exclusively marketed by Zimmer Biomet — at Cleveland Clinic. It marks the first procedure to utilize NeuroOne’s Evo sEEG with Zimmer Biomet’s Rosa One Brain.

The Rosa One Brain, a robotic platform, assists surgeons in planning and performing complex, minimally invasive neurosurgical procedures.

Eden Prairie, Minnesota-based NeuroOne commercially launched its Evo sEEG electrode line in the U.S. earlier this month. The electrodes provide up to 30 days of recording, monitoring and stimulation of electrical signals at the subsurface level of the brain.

NeuroOne’s electrodes provide a similar function at the subsurface level of the brain compared to cortical electrodes. However, they util…