
Zimmer Biomet reported 3Q23 orthopedic sales of $1,753.6 million, +5% compared to the third quarter of 2022. For the first nine months of 2023, the company generated $5,454.2 million, +6.6% compared to the prior year.
During the quarter, the combination of Persona and ROSA drove knee replacement growth. The company remains on track to install 300 ROSA units in 2023, with about a third of them going into ASCs.
Zimmer Biomet said 10% to 15% of its sales come from the ASC, where it grew in the teens for the third quarter.
“We have the right portfolio,” said new Zimmer Biomet CEO Ivan Tornos. “We have the right robotic platform for the ASC and a great cementless knee. We have a full bag in sports and across SET. We also have dedicated resources, which you very much need in an ASC environment, like a dedicated sales force and simplified contracting.”
Looking at other segments, hip replacement sales moderated during the third quarter due to tougher comparisons in China and headwinds in Russia. Strategically important areas within the SET category — sports medicine, upper extremities and CMF — grew in the double digits.
Zimmer Biomet said M&A is its number one recipient of capital allocation, and the company is considering deals up to $2 billion. Any moves that the company makes are likely to come in the faster-growing areas of its SET category.
The company expects 2023 reported growth between 6% and 6.5%. Market dynamics are expected to remain healthy into 2024, helping Zimmer Biomet maintain its strong performance.
Orthopedic Sales Data
All orthopedic sales data is provided in USD millions unless otherwise noted. We estimate orthopedic sales and growth rates on an as-reported basis.
Orthopedic Sales by Segment
Segment | 3Q23 | 3Q22 | $ Chg | % Chg |
---|---|---|---|---|
Joint Replacement | $1,298.6 | $1,239.6 | $58.9 | 4.8% |
Knees | $706.3 | $657.0 | $49.3 | 7.5% |
Hips | $465.3 | $468.0 | ($2.7) | (0.6%) |
Extremities | $127.0 | $114.6 | $12.3 | 10.8% |
Trauma | $156.6 | $153.5 | $3.1 | 2% |
Sports Medicine | $50.8 | $45.0 | $5.8 | 12.8% |
Orthobiologics | $52.9 | $57.3 | ($4.4) | (7.7%) |
Enabling Technology | $25.4 | $23.0 | $2.4 | 10.4% |
Other | $169.4 | $151.3 | $18.1 | 12% |
Total | $1,753.6 | $1,669.8 | $83.8 | 5% |
Segment | 9m23 | 9m22 | $ Chg | % Chg |
---|---|---|---|---|
Joint Replacement | $4,093.5 | $3,791.5 | $301.9 | 8% |
Knees | $2,240.2 | $2,024.7 | $215.5 | 10.6% |
Hips | $1,462.4 | $1,406.2 | $56.2 | 4% |
Extremities | $390.9 | $360.6 | $30.2 | 8.4% |
Trauma | $479.6 | $476.2 | $3.5 | 0.7% |
Sports Medicine | $155.4 | $146.5 | $8.9 | 6.1% |
Orthobiologics | $161.3 | $175.1 | ($13.8) | (7.9%) |
Enabling Technology | $70.8 | $67.2 | $3.6 | 5.4% |
Other | $493.6 | $458.3 | $35.3 | 7.7% |
Total | $5,454.2 | $5,114.8 | $339.4 | 6.6% |
Orthopedic Sales by Geography
Region | 3Q23 | 3Q22 | $ Chg | % Chg |
---|---|---|---|---|
US | $1,031.4 | $973.0 | $58.4 | 6% |
OUS | $722.2 | $696.8 | $25.4 | 3.6% |
EMEA | $411.7 | $390.2 | $21.4 | 5.5% |
Asia Pacific | $310.5 | $306.6 | $4.0 | 1.3% |
Total | $1,753.6 | $1,669.8 | $83.8 | 5% |
Region | 9m23 | 9m22 | $ Chg | % Chg |
---|---|---|---|---|
US | $3,160.7 | $2,931.8 | $228.9 | 7.8% |
OUS | $2,293.5 | $2,183.0 | $110.5 | 5.1% |
EMEA | $1,311.9 | $1,222.5 | $89.5 | 7.3% |
Asia Pacific | $981.6 | $960.5 | $21.0 | 2.2% |
Total | $5,454.2 | $5,114.8 | $339.4 | 6.6% |
Company Earnings
Amt | % of Sales | |
---|---|---|
Sales | $1,753.6 | |
Cost of Sales | $518.6 | 29.6% |
Selling and Admin | $674.9 | 38.5% |
R & D | $116.9 | 6.7% |
Other | $280.5 | 16% |
Net Earnings | $162.7 | 9.3% |
Zimmer Biomet reported 3Q23 orthopedic sales of $1,753.6 million, +5% compared to the third quarter of 2022. For the first nine months of 2023, the company generated $5,454.2 million, +6.6% compared to the prior year.
During the quarter, the combination of Persona and ROSA drove knee replacement growth. The company remains on track to...
Zimmer Biomet reported 3Q23 orthopedic sales of $1,753.6 million, +5% compared to the third quarter of 2022. For the first nine months of 2023, the company generated $5,454.2 million, +6.6% compared to the prior year.
During the quarter, the combination of Persona and ROSA drove knee replacement growth. The company remains on track to install 300 ROSA units in 2023, with about a third of them going into ASCs.
Zimmer Biomet said 10% to 15% of its sales come from the ASC, where it grew in the teens for the third quarter.
“We have the right portfolio,” said new Zimmer Biomet CEO Ivan Tornos. “We have the right robotic platform for the ASC and a great cementless knee. We have a full bag in sports and across SET. We also have dedicated resources, which you very much need in an ASC environment, like a dedicated sales force and simplified contracting.”
Looking at other segments, hip replacement sales moderated during the third quarter due to tougher comparisons in China and headwinds in Russia. Strategically important areas within the SET category — sports medicine, upper extremities and CMF — grew in the double digits.
Zimmer Biomet said M&A is its number one recipient of capital allocation, and the company is considering deals up to $2 billion. Any moves that the company makes are likely to come in the faster-growing areas of its SET category.
The company expects 2023 reported growth between 6% and 6.5%. Market dynamics are expected to remain healthy into 2024, helping Zimmer Biomet maintain its strong performance.
Orthopedic Sales Data
All orthopedic sales data is provided in USD millions unless otherwise noted. We estimate orthopedic sales and growth rates on an as-reported basis.
Orthopedic Sales by Segment
Segment | 3Q23 | 3Q22 | $ Chg | % Chg |
---|---|---|---|---|
Joint Replacement | $1,298.6 | $1,239.6 | $58.9 | 4.8% |
Knees | $706.3 | $657.0 | $49.3 | 7.5% |
Hips | $465.3 | $468.0 | ($2.7) | (0.6%) |
Extremities | $127.0 | $114.6 | $12.3 | 10.8% |
Trauma | $156.6 | $153.5 | $3.1 | 2% |
Sports Medicine | $50.8 | $45.0 | $5.8 | 12.8% |
Orthobiologics | $52.9 | $57.3 | ($4.4) | (7.7%) |
Enabling Technology | $25.4 | $23.0 | $2.4 | 10.4% |
Other | $169.4 | $151.3 | $18.1 | 12% |
Total | $1,753.6 | $1,669.8 | $83.8 | 5% |
Segment | 9m23 | 9m22 | $ Chg | % Chg |
---|---|---|---|---|
Joint Replacement | $4,093.5 | $3,791.5 | $301.9 | 8% |
Knees | $2,240.2 | $2,024.7 | $215.5 | 10.6% |
Hips | $1,462.4 | $1,406.2 | $56.2 | 4% |
Extremities | $390.9 | $360.6 | $30.2 | 8.4% |
Trauma | $479.6 | $476.2 | $3.5 | 0.7% |
Sports Medicine | $155.4 | $146.5 | $8.9 | 6.1% |
Orthobiologics | $161.3 | $175.1 | ($13.8) | (7.9%) |
Enabling Technology | $70.8 | $67.2 | $3.6 | 5.4% |
Other | $493.6 | $458.3 | $35.3 | 7.7% |
Total | $5,454.2 | $5,114.8 | $339.4 | 6.6% |
Orthopedic Sales by Geography
Region | 3Q23 | 3Q22 | $ Chg | % Chg |
---|---|---|---|---|
US | $1,031.4 | $973.0 | $58.4 | 6% |
OUS | $722.2 | $696.8 | $25.4 | 3.6% |
EMEA | $411.7 | $390.2 | $21.4 | 5.5% |
Asia Pacific | $310.5 | $306.6 | $4.0 | 1.3% |
Total | $1,753.6 | $1,669.8 | $83.8 | 5% |
Region | 9m23 | 9m22 | $ Chg | % Chg |
---|---|---|---|---|
US | $3,160.7 | $2,931.8 | $228.9 | 7.8% |
OUS | $2,293.5 | $2,183.0 | $110.5 | 5.1% |
EMEA | $1,311.9 | $1,222.5 | $89.5 | 7.3% |
Asia Pacific | $981.6 | $960.5 | $21.0 | 2.2% |
Total | $5,454.2 | $5,114.8 | $339.4 | 6.6% |
Company Earnings
Amt | % of Sales | |
---|---|---|
Sales | $1,753.6 | |
Cost of Sales | $518.6 | 29.6% |
Selling and Admin | $674.9 | 38.5% |
R & D | $116.9 | 6.7% |
Other | $280.5 | 16% |
Net Earnings | $162.7 | 9.3% |
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ME
Mike Evers is a Senior Market Analyst and writer with over 15 years of experience in the medical industry, spanning cardiac rhythm management, ER coding and billing, and orthopedics. He joined ORTHOWORLD in 2018, where he provides market analysis and editorial coverage.