ORTHOPEDICS THIS WEEK VOLUME 13 , ISSUE 5 | FEBRUARY 14 , 2017 17
COMPANY
Zimmer Biomet Posts 4.1 % Fourth Quarter Sales Increase
Zimmer Biomet Holdings , Inc . announced on Tuesday , January 31 , 2017 , that sales for the fourth quarter ended December 31 , 2016 rose 4.1 % over the prior year period and was an increase of 4.4 % on an adjusted constant currency basis . Net sales for the quarter were $ 2.013 billion .
Zimmer Biomet , which is headquartered in Warsaw , Indiana , is a global leader in musculoskeletal healthcare . For the full year of 2016 , sales were $ 7,683.9 billion , up from $ 5,997.98 billion in 2015 . The following table shows the sales details for 2016 .
Joanne Wuensch , an analyst with BMP Capital Markets said : “ The [ fourth quarter ] call was 180 degrees better than the [ third quarter ] call , but there is still work to be done . Progress has clearly been made in the recovery process since the announcement of supply chain issues . The overall [ Reconstructive ] market appears to have strengthened , but the question remains , ‘ why ?’”
Mike Matson , an analyst with Needham & Company , LLC , said , “ We are
Zimmer Biomet 2016 Sales
* Surgical , Sports Medicine , Foot and Ankle , Extremities and Trauma Source : Zimmer Biomet Holdings , Inc .
Wikimedia Commons and Pedro Antonio Sánchez Mesa , MD encouraged by [ Zimmer Biomet Holdings , Inc .]’ s rapid progress in addressing its manufacturing issues and we note that its organic [ fourth quarter 2016 ] revenue growth was 3.5 % after adjusting for selling days .”
Zimmer Biomet President and CEO David Dvorak said in a press release , “ Zimmer Biomet delivered solid revenue growth in the fourth quarter . Our performance was driven , in part , by the reacceleration of our Knee and Hip businesses , as well as the ongoing strength of our S . E . T . category and Asia Pacific region .”
For 2017 , the company is anticipating that constant currency revenue for fullyear 2017 will increase between 3.7 % and 4.7 % ( inclusive of approximately 120 basis points of contribution from LDR transaction ). Most analysts agree that in 2017 Zimmer Biomet will see an increase in Knee , Spine and S . E . T . markets as well as in Reconstructive . — TR
($ in millions ) 2015 Sales 2016 Sales % Change Knees $ 2,276.8 $ 2,751.9 20.9 % Hips 1,533.0 1,867.9 21.8 % S . E . T .* 1,214.6 1,645.4 35.5 % Dental 335.7 427.9 27.5 % Spine & CMF 404.4 662.0 63.7 % Other 233.3 328.8 40.9 %
TOTAL $ 5,997.8 $ 7,683.9 28.1 %
CPOSM , SF Shoulder , Elbow & Hand Clinic Merge
California Pacific Orthopaedics &
Sports Medicine ( CPOSM ) recently joined forces with San Francisco ( SF ) Shoulder , Elbow & Hand Clinic to form California Pacific Orthopaedics , the largest orthopedic private practice in San Francisco .
Wikimedia Commons and Mak-Ham Lam , Daniel Tp Fong , Patrick SH Yung , Eric Py Ho , Wood-Yee Chan and Kai-Ming Chan
“ This merger will enable us to provide the highest quality of care throughout all of the orthopaedic sub-specialties by locally and nationally recognized orthopaedic surgeons .” Jon Dickinson , M . D ., a sports medicine specialist and senior member of the group , reported in a press release .
“ Now as a combined practice we can collaborate more closely to provide patients with excellent and individualized musculoskeletal care , from nonoperative sports medicine and interventional spine to the most complex of orthopaedic surgeries ,” Peter Callander , M . D ., a total hip and total knee replacement specialist and chairman of the board of the newly merged California Pacific Orthopaedics , said in the release .
The expanded practice will offer comprehensive coverage of foot and ankle , hand and wrist , hip and knee , shoulder
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