Zimmer Biomet

Zimmer Biomet this week announced it created an independent 501(c)(3) for its philanthropic, multi-disciplinary coalition Movement is Life.

The new 501(c)(3) non-profit organization designation will allow the Warsaw, Indiana-based company to raise awareness of the impact of disparities on chronic disease management and quality of life among women, racial and ethnic minorities and women living in rural communities.

“We’re excited to take this next step in the evolution of Movement is Life as we continue on our path to address disparities in underserved communities and populations,” said Dr. Mary O’Connor, co-founder, chief medical officer and chief compliance officer at Vori Health, and chair of the Movement is Life board of directors. “The inaugural Movement is Life board of directors shares my gratitude to Zimmer Biomet for their incredible support in our growth. We are excited and eager to work together as an independent organiza…

Zimmer Biomet (NYSE: ZBH) today announced that it appointed Paul Stellato as VP, controller and chief accounting officer.

Prior to joining the Warsaw, Indiana-based company, Stellato was VP of finance and global business services at Xylem inc. He has also held numerous leadership roles at ITT Corporation, Arthur Andersen and Ernst & Young.

“With more than two decades of experience and a demonstrated track record of success in all areas of financial services, Paul will be a great addition to our leadership team in his new role,” said CFO Suky Upadhyay. “His experience and expertise in key finance areas including controllership, FP&A, investor relations and internal audit will be extremely valuable as we continue to drive our business forward.”

Zimmer Biomet (NYSE: ZBH) this week launched its artificial intelligence (AI) capabilities within its Omni Suite intelligent operating room.

The Warsaw, Indiana-based company designed the intelligent OR to optimize surgical workflow and procedural efficiency by automating manual tasks. The newly-released AI feature uses cameras to automatically recognize and timestamp key OR workflow milestones, including patient entry and exit, door count, anesthesia administration, surgery and cleaning.

“Omni Suite is more than just another manual integration solution – it is a smart system designed to work with OR staff throughout the procedure,” Robert Kraal, VP and GM of connected health at Zimmer Biomet, said in a news release. “Now, with this new feature, surgical teams can utilize and rely on Omni Suite’s AI capabilities to optimize OR workflow. By providing data points that have been historically captured manually, if at all, surgical teams can …

Zimmer Biomet (NYSE:ZBH) shares ticked up this morning on first-quarter results that came in ahead of the consensus forecast.

The Warsaw, Indiana-based company posted profits of $14.2 million, or 7¢ per share, on sales of $1.7 billion for the three months ended March 31, 2022, for a 92.8% bottom-line slide on sales growth of 3.9%.

Adjusted to exclude one-time items, earnings per share were $1.61, 20¢ ahead of Wall Street, where analysts were looking for sales of $1.6 billion.

Zimmer Biomet also completed the previously announced spinoff of ZimVie — its former dental and spine businesses.

“We are encouraged by the better than expected results seen in Q1, driven by COVID recovery and continued execution by the Zimmer Biomet team. This performance increases our confidence level for 2022 and we are raising and tightening our guidance accordingly,” Zimmer Biomet Chair, President and CEO Bryan Hanson said in a news release. “Our underlying business rema…