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Zimmer Biomet reported 1Q21 orthopedic revenue of USD $1,665 million, +3.3% vs. 1Q20. Like many of its competitors, the company saw better than expected results in March to offset early-quarter COVID pressure. Compared to 1Q19, Zimmer Biomet’s orthopedic business declined in the high single digits. However, company leadership believes that the market is turning the corner and could return to 2019 levels by the end of the second quarter.
The ROSA platform’s momentum continued in the first quarter, as well. The company said that placements were “pretty similar” to the fourth quarter’s 115 placements. Zimmer Biomet also received FDA clearance for the partial knee application and reported good results in the first procedure. The company plans to launch ROSA Hip in the second half of 2021, with an application focused on the fast-growing direct anterior approach.
The company also pointed to strong performances from its Persona Revision knee and Signature ONE planner for shoulders. Zimmer Biomet is bullish on the prospects for Persona-IQ, its smart knee currently pending FDA clearance. The company expects a full launch to occur in 2022.
For full-year 2021, Zimmer Biomet expects growth in the range of +14% to +17%. This range represents growth of up to +3% compared to 2019.
“We’re also very focused on a real evolution of the company from a metal and plastic provider of implants to a leading med tech innovator. Think of us as a high-tech company that happens to be in med tech. More than 70% of our product development dollars are being spent on ZBEdge, our ecosystem of connected technologies. This shift is coming not only for us, but for the entire market. I believe the technology advancements potentially can reshape the growth curve of these markets.” – Zimmer Biomet CEO Bryan Hanson
Revenue Data
All revenue data is provided in USD millions unless otherwise noted. Sales and growth rates are estimated on an as-reported basis.
Segment Sales
| 1Q21 | 1Q20 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement | $1,190.9 | $1,170.5 | $20.4 | 1.7% |
| Knees | $626.6 | $631.1 | ($4.6) | (0.7%) |
| Hips | $447.0 | $432.6 | $14.4 | 3.3% |
| Extremities | $117.3 | $106.8 | $10.6 | 9.9% |
| Spine | $102.5 | $96.4 | $6.1 | 6.3% |
| Trauma | $166.8 | $150.3 | $16.5 | 11% |
| Sports Medicine | $43.0 | $39.0 | $4.0 | 10.2% |
| Orthobiologics | $64.3 | $59.4 | $4.9 | 8.2% |
| Other (CMF) | $97.5 | $95.8 | $1.7 | 1.8% |
| Total | $1,665.0 | $1,611.4 | $53.5 | 3.3% |
Geographic Sales
| 1Q21 | 1Q20 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $1,004.9 | $994.8 | $10.1 | 1% |
| OUS | $660.1 | $616.6 | $43.4 | 7% |
| EMEA | $346.3 | $359.7 | ($13.4) | (3.7%) |
| Asia Pacific | $313.8 | $257.0 | $56.9 | 22.1% |
| Total | $1,665.0 | $1,611.4 | $53.5 | 3.3% |
Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $1,847.4 | |
| Cost of Sales | $516.4 | 28% |
| Selling and Admin | $770.1 | 41.7% |
| R & D | $94.4 | 5.1% |
| Other | $268.4 | 14.5% |
| Net Earnings | $198.1 | 10.7% |
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
Zimmer Biomet reported 1Q21 orthopedic revenue of USD $1,665 million, +3.3% vs. 1Q20. Like many of its competitors, the company saw better than expected results in March to offset early-quarter COVID pressure. Compared to 1Q19, Zimmer Biomet’s orthopedic business declined in the high single digits. However, company leadership believes that...
Zimmer Biomet reported 1Q21 orthopedic revenue of USD $1,665 million, +3.3% vs. 1Q20. Like many of its competitors, the company saw better than expected results in March to offset early-quarter COVID pressure. Compared to 1Q19, Zimmer Biomet’s orthopedic business declined in the high single digits. However, company leadership believes that the market is turning the corner and could return to 2019 levels by the end of the second quarter.
The ROSA platform’s momentum continued in the first quarter, as well. The company said that placements were “pretty similar” to the fourth quarter’s 115 placements. Zimmer Biomet also received FDA clearance for the partial knee application and reported good results in the first procedure. The company plans to launch ROSA Hip in the second half of 2021, with an application focused on the fast-growing direct anterior approach.
The company also pointed to strong performances from its Persona Revision knee and Signature ONE planner for shoulders. Zimmer Biomet is bullish on the prospects for Persona-IQ, its smart knee currently pending FDA clearance. The company expects a full launch to occur in 2022.
For full-year 2021, Zimmer Biomet expects growth in the range of +14% to +17%. This range represents growth of up to +3% compared to 2019.
“We’re also very focused on a real evolution of the company from a metal and plastic provider of implants to a leading med tech innovator. Think of us as a high-tech company that happens to be in med tech. More than 70% of our product development dollars are being spent on ZBEdge, our ecosystem of connected technologies. This shift is coming not only for us, but for the entire market. I believe the technology advancements potentially can reshape the growth curve of these markets.” – Zimmer Biomet CEO Bryan Hanson
Revenue Data
All revenue data is provided in USD millions unless otherwise noted. Sales and growth rates are estimated on an as-reported basis.
Segment Sales
| 1Q21 | 1Q20 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement | $1,190.9 | $1,170.5 | $20.4 | 1.7% |
| Knees | $626.6 | $631.1 | ($4.6) | (0.7%) |
| Hips | $447.0 | $432.6 | $14.4 | 3.3% |
| Extremities | $117.3 | $106.8 | $10.6 | 9.9% |
| Spine | $102.5 | $96.4 | $6.1 | 6.3% |
| Trauma | $166.8 | $150.3 | $16.5 | 11% |
| Sports Medicine | $43.0 | $39.0 | $4.0 | 10.2% |
| Orthobiologics | $64.3 | $59.4 | $4.9 | 8.2% |
| Other (CMF) | $97.5 | $95.8 | $1.7 | 1.8% |
| Total | $1,665.0 | $1,611.4 | $53.5 | 3.3% |
Geographic Sales
| 1Q21 | 1Q20 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $1,004.9 | $994.8 | $10.1 | 1% |
| OUS | $660.1 | $616.6 | $43.4 | 7% |
| EMEA | $346.3 | $359.7 | ($13.4) | (3.7%) |
| Asia Pacific | $313.8 | $257.0 | $56.9 | 22.1% |
| Total | $1,665.0 | $1,611.4 | $53.5 | 3.3% |
Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $1,847.4 | |
| Cost of Sales | $516.4 | 28% |
| Selling and Admin | $770.1 | 41.7% |
| R & D | $94.4 | 5.1% |
| Other | $268.4 | 14.5% |
| Net Earnings | $198.1 | 10.7% |
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
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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.
