3. Zimmer Biomet
2020 revenue: $7.025B (–12.0%)
Headquarters: Warsaw, Ind.
Zimmer Biomet has engaged in a significant reorganization in recent years. Now it’s slimming down to become even more focused.
In February, the company announced that it plans to spin off its spine and dental businesses into a new, independent, publicly-traded company by mid-2022. Former Medtronic executive Vafa Jamali will serve as CEO of the new company. The spine and dental businesses made up nearly 13% of Zimmer Biomet revenues over the past two years.
Zimmer Biomet officials are also getting a better fix on the company’s digital and robotic technologies, which they’re packaging together into the new ZBEdge connected intelligence suite.
“Where I think that we have an edge over the competition is the connectivity piece — and that everything is working in concert with each other already today and built on a solid platform,” said Liane Teplitsky, Zimmer Biomet’s VP and GM of worldwide robotics, during our DeviceTalks Weekly podcast on April 16.
The company’s Rosa robotics platform recently secured its latest clearance for partial knee replacement surgeries.
Next up, Zimmer Biomet is on the cusp of a De Novo 510(k) clearance and launch of the ortho device industry’s first smart knee implant. The Persona-IQ is a next-gen version of ZB’s successful, personalized Persona Revision knee implants that will incorporate the CHIRP sensor created by startup Canary Medical.
Newitter at SVB Leerink thinks Zimmer Biomet is well-positioned to gain market share, particularly in the knee space.