Zimmer Biomet

Zimmer Biomet Holdings, Inc.
Traded as NYSE: ZBH
S&P 500 Component
Founded Warsaw, Indiana, U.S. (1927)
Founder Justin O. Zimmer
Headquarters Warsaw, Indiana, USA
Key people
 Dan Florin (CEO)
Revenue US$ 7.518 billion pro forma (2015)[1]
Number of employees
 17,500 (2015)[1]
Website www.zimmerbiomet.com

Zimmer Biomet (NYSE: ZBH) is a publicly traded medical device company. It was founded in 1927 to produce aluminum splints. The firm is headquartered in Warsaw, Indiana, where it is part of the medical devices business cluster.

In 2001 Zimmer was spun off from Bristol-Myers Squibb and began trading on the New York Stock Exchange, on August 7, under the ticker symbol “ZMH”. In November 2011, the Company acquired ExtraOrtho, Inc. (ExtraOrtho). In January 2012, the Company acquired Reno, Nevada-based Synvasive Technology, Inc. On June 29, 2015, the company changed the ticker symbol to "ZBH" to reflect its acquisition of Biomet.

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

On 12 January 2017, Zimmer Biomet announced a resolution with the DOJ and the SEC in which they agreed to pay a fine of approximately $30.5 million, an amount which would not affect their 2017 outlook.[2][3]

Products

Zimmer designs, develops, manufactures and markets orthopaedics products, including knee, hip, shoulder, elbow, foot and ankle artificial joints and dental prostheses. Zimmer has operations in more than 25 countries around the world (US, Australia, Austria, Belgium, Canada, China, Czech Republic, Finland, France, Germany, India, Ireland, Israel, Italy, Japan, Latin America, Netherlands, Brasil, Portugal, Russia, South Africa, Spain etc.) and sells products in more than 100 countries.[4]

Corporate history

Exton, PA office

On 24 April 2014, it was announced that Zimmer had agreed to purchase Biomet Inc. for $13.4 billion.[5] In October 2014 however, it was announced that the EU’s antitrust regulators had opened an extensive investigation into Zimmer’s bid for Biomet due to concern that it would substantially lessen competition in certain markets. A decision was announced to be made on 16 February 2015.[6]and on June 24, 2015, Zimmer completed its acquisition of Biomet forming Zimmer Biomet Holdings.

Acquisition history

The following is an illustration of the company's major mergers, acquisitions and historical predecessors:

Zimmer Biomet


Zimmer, Inc









Zimmer


Centerpulse AG[7]
(Acq 2003)


InCentive Capital AG[7]
(Acq 2003)


ORTHOsoft Inc[8]
(Acq 2007)


Medizin-Technik GmbH[9]
(Acq 2013)


Knee Creations, LLC[10]
(Acq 2013)


ETEX Holdings, Inc[11]
(Acq 2014)




Biomet, Inc[12]


Merck KGaA[13]
(Mercks interest in Biomet Merck Joint Venture, Acq 2004
renamed Biomet Europe Group)


Innovations, Inc[13]
(Acq 1999)


Kirschner Medical Corporation[13]
(Acq 1994)


W. Lorenz Surgical, Inc[13]
(1992)


Arrow Surgical Technologies[13]
(Acq 1990, renamed Biomet Sports Medicine)


Electro-Biology, Inc[13]
(Acq 1988)


Orthopaedic Equipment Company[13]
(Acq 1984)











Company data

Zimmer's 2013 sales were approximately $4.62 billion. The company is supported by the efforts of approximately 9,000 employees worldwide.

Leadership

References

  1. 1 2 "2015 Annual Report" (PDF).
  2. ↑ "BRIEF-Zimmer Biomet announces resolution with DOJ, SEC". Reuters. 12 January 2017. Retrieved 12 January 2017.
  3. ↑ "Zimmer Biomet Announces Resolution with DOJ and SEC Regarding Previously Disclosed Legacy Biomet FCPA Matters". Retrieved 12 January 2017.
  4. ↑ Simon, Hermann, Hidden Champions of the 21st Century: Success Strategies of unknown World Market Leaders, London: Springer, 2009, ISBN 978-0-387-98147-5
  5. ↑ Michelle Fay Cortez. "Zimmer to Buy Biomet for $13.4 Billion Adding Orthopedics". Bloomberg.com.
  6. ↑ "EU regulators open extensive probe into Zimmer, Biomet deal" (Press release). Reuters. 3 October 2014.
  7. 1 2 "Zimmer Biomet -- Zimmer Launches Offers to Acquire Centerpulse AG and InCentive Capital AG". zimmerbiomet.com.
  8. ↑ "Zimmer Biomet -- Zimmer's Offer To Acquire ORTHOsoft Is Successful". zimmerbiomet.com.
  9. ↑ "Zimmer Biomet -- Zimmer Acquires NORMED Medizin-Technik GmbH". zimmerbiomet.com.
  10. ↑ "Zimmer Biomet -- Zimmer Acquires Knee Creations, LLC's Business". zimmerbiomet.com.
  11. ↑ "Zimmer Biomet -- Zimmer Acquires ETEX Holdings, Inc.". zimmerbiomet.com.
  12. ↑ "Zimmer Biomet -- Zimmer Completes Combination with Biomet". zimmerbiomet.com.
  13. 1 2 3 4 5 6 7 "Biomet UK - History of Biomet - A Heritage of Excellence". biomet.co.uk.
  14. ↑ "Zimmer Biomet Leadership Team".
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.