Recent consolidations from Zimmer Biomet have been reflective of a growing merger and acquisition market in the medical technology sector, according to experts. Photo from Google Maps.

News Release

WARSAW — Zimmer Biomet Holdings, Inc. reported third quarter net sales of $2 billion, an increase of 9.7% over the prior year period. Net earnings for the third quarter were $230.9 million, or $377.0 million on an adjusted basis.

Its third-quarter net income of $231 million was $18 million less from the same period in the previous year.

“Our third quarter performance was anchored by 5.6% organic revenue growth in our critical U.S. business, driven by accelerated adoption of our key new products referred to as the ‘Magnificent Seven,'” said Ivan Tornos, Chairman, president and CEO of Zimmer Biomet.  “This is highly encouraging, especially as we prepare to launch a second round of new-to-the-world technologies, including the first fully autonomous robot in orthopedics and our iodine treated hip, the world’s first orthopedic implant with Iodine Technology that inhibits bacterial adhesion and prevents biofilm formation to help address Periprosthetic Joint Infections.”

Recent Highlights

• Completed the acquisition of Monogram Technologies, adding surgeon-guided semi- and fully autonomous robotic technology that will create the industry’s broadest, most flexible portfolio of orthopedic robotics and navigation solutions.
• Announced Japan PMDA approval of iTaperloc Complete and iG7 Hip System, the world’s first orthopedic implants with iodine technology.
• Launched two new foot and ankle solutions for complex trauma cases, continuing the track record of innovation from the Company’s Paragon 28 business.
• Recognized by Fortune as one of the best 100 companies to work for in Europe.
• Showcased latest innovations at the American Association of Hip and Knee Surgeons Annual Meeting and the American Orthopedic Foot and Ankle Society Annual Conference.