Zimmer Biomet Advances Innovation and Health Equity with Strategic Initiatives in 2024

Zimmer Biomet has undertaken several key initiatives and made significant progress in various areas, reflecting its commitment to innovation and health equity in the medical device industry. On June 20, 2024, Zimmer Biomet appointed Devdatt "Dev" Kurdikar to its Board of Directors. Kurdikar, with a rich background in medical technology and leadership roles at Embecta Corp, Becton Dickinson, Boston Scientific, and Baxter International, is expected to further the company's strategic priorities.

On June 12, 2024, Zimmer Biomet entered a multi-year co-marketing agreement with RevelAi Health to promote AI-powered engagement solutions aimed at advancing value-based orthopedic care and addressing health equity. This collaboration is designed to enhance patient care, reduce clinician burnout, and improve accessibility and outcomes in orthopedic care, particularly for underserved populations.

Additionally, on June 11, 2024, Zimmer Biomet signed a limited distribution agreement with THINK Surgical Inc. for the TMINI® Miniature Robotic System, a handheld device for total knee arthroplasty. This partnership will complement Zimmer Biomet's ROSA® Robotics portfolio, offering advanced solutions for knee, hip, and shoulder arthroplasty.

At the Goldman Sachs 45th Annual Healthcare Conference on June 4, 2024, Zimmer Biomet outlined its strategy for above-market growth, including a focus on customer-centric solutions and market diversification. During the 2024 Investor Day on May 29, 2024, CEO Ivan Tornos emphasized plans for mid-single-digit revenue growth and a $2 billion stock repurchase program.

Zimmer Biomet declared a quarterly dividend of $0.24 per share for the second quarter of 2024, payable on July 31, 2024, as announced on May 13, 2024. On May 6, 2024, Zimmer Biomet published its 2023 Sustainability Report, highlighting its commitment to achieving Net-Zero greenhouse gas emissions by 2050 and other ESG goals. Key achievements included a 7% reduction in carbon emissions, high employee engagement, and expanding the Zero Waste to Landfill initiative.

On April 25, 2024, Zimmer Biomet completed the world's first robotic-assisted shoulder replacement surgery using its ROSA® Shoulder System at Mayo Clinic. This system, which received FDA 510(k) clearance in February 2024, aims to improve surgical outcomes and patient satisfaction.

Zimmer Biomet became the first official medical device partner of the Association of Pickleball Players, Professional Pickleball Association, and USA Pickleball on April 4, 2024. This partnership focuses on health education and joint wellness for the sport's participants, especially those aged 55 and older.

Earlier in the year, Zimmer Biomet signed the Global Health Equity Network's Zero Health Gaps Pledge on February 12, 2024, committing to embedding health equity in its core strategies and operations. The company also reported strong financial results for the fourth quarter and full year of 2023, with notable achievements in operational excellence, innovation, and diversity, equity, and inclusion efforts. This period also saw the appointment of Louis A. Shapiro to the Board of Directors on January 5, 2024, bringing extensive healthcare leadership experience to the company.