Founder Justin O. Zimmer Website www.zimmerbiomet.com | Number of employees 17,500 (2015) | |
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Traded as NYSE: ZBHS&P 500 Component Key people David C Dvorak (President/CEO) Revenue US$ 7.518 billion pro forma (2015) Stock price ZBH (NYSE) US$ 122.11 +0.75 (+0.62%)31 Mar, 4:01 PM GMT-4 - Disclaimer CEO David C Dvorak (1 May 2007–) Subsidiaries Biomet, Medtech, Zimmer Spine, Inc, Zimmer GmbH | ||
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.
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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.
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.
Corporate history
On 24 April 2014, it was announced that Zimmer had agreed to purchase Biomet Inc. for $13.4 billion. 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.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:
Company data
Zimmer's 2013 sales were approximately $4.62 billion. The company is supported by the efforts of approximately 9,000 employees worldwide.