Zimmer Biomet 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 (Robotic Surgical Assistant) portfolio, which includes the ROSA Knee and ROSA Hip. Zimmer […]
Zimmer Biomet
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. […]
Layoffs in medtech: These companies recently reduced their workforce
The workforce reduction trend has swept the economy recently, and unfortunately, the medtech space is not immune to layoffs. You’ve probably read about the ongoing layoffs sweeping the tech industry, media and more. For instance, Yahoo, Disney, Zoom and more all reported workforce reductions as companies across industries grapple with economic pressures. Think inflation, supply […]
Zimmer Biomet beats Street in Q4, reduces headcount in restructuring effort
Zimmer Biomet shares are down despite fourth-quarter results that topped the consensus forecast. The Warsaw, Indiana–based orthopedics device company is shedding hundreds of jobs in a new round of restructuring. Mike Matson, senior research analyst at Needham & Co., noted ZB’s Street-beating Q4 and its above-consensus 2024 projections. Still, the company has been losing share […]
Zimmer Biomet adds longtime orthopedic hospital leader to its board
Zimmer Biomet 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 […]
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 […]
Zimmer Biomet stock dips on lowered sales guidance despite Q3 beats
Zimmer Biomet 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 […]
How Medtronic, Zimmer Biomet and Smith+Nephew approach medtech 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 […]
Zimmer Biomet makes a handful of executive changes under new CEO
Zimmer Biomet announced today that it made a number of updates to its leadership team. The changes follow the recent appointment of Ivan Tornos to CEO after Bryan Hanson left for the corner office at 3M Health Care. Amid the changes, Zimmer Biomet named Wilfred van Zuilen group president, EMEA, and promoted Mark Bezjak to […]
Zimmer Biomet CEO leaves to take over another big medtech
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 […]
The 10 largest orthopedic device companies in the world
Two of the world’s largest orthopedic device companies expect accelerated revenue growth this year. Stryker and Zimmer Biomet 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 […]