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ZimVie reported 4Q22 orthopedic sales of $112.3 million, -16.9% compared to 4Q21. The company’s 2022 orthopedic sales totaled $449.8 million, -16.8% compared to the prior year.
In its first year post-spin from Zimmer Biomet, the company took necessary steps in its years-long transformation. ZimVie decided to leave the Chinese spine market as part of its brand rationalization.
The company also undertook three major enterprise resource planning (ERP) conversions in the second half of 2022. Those conversions resulted in lost spine sales of $7 million due to supply disruptions.
ZimVie’s Tether device added nearly 35 million covered lives through insurance policy wins in 2022.
With the increasing importance of enabling technology in spine implant sales, the company plugged another gap in its portfolio by partnering with Brainlab.
“We are very excited to announce a partnership and global development agreement with Brainlab for spine-enabling technologies,” said ZimVie CEO Vafa Jamali. “Brainlab fits exactly with our strategy to leverage broadly compatible solutions with an established footprint to drive greater pull-through across our spine portfolio.”
The company expects another year of hurdles in 2023, with spine sales declines in the mid-teens.
Orthopedic Sales Data
All orthopedic sales data is provided in USD millions unless otherwise noted. Orthopedic sales and growth rates are estimated on an as-reported basis.
Orthopedic Sales by Segment
| 4Q22 | 4Q21 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $87.6 | $106.8 | ($19.2) | (18%) |
| Orthobiologics | $16.8 | $19.6 | ($2.8) | (14.1%) |
| Enabling Technology | $1.9 | $2.2 | ($0.3) | (11.7%) |
| Other (Bone Healing) | $6.0 | $6.6 | ($0.7) | (10.1%) |
| Total | $112.3 | $135.2 | ($22.9) | (16.9%) |
| FY22 | FY21 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $350.8 | $420.1 | ($69.3) | (16.5%) |
| Orthobiologics | $65.2 | $78.6 | ($13.4) | (17%) |
| Enabling Technology | $7.4 | $8.4 | ($1.0) | (11.5%) |
| Other (Bone Healing) | $26.3 | $33.2 | ($6.9) | (20.9%) |
| Total | $449.8 | $540.4 | ($90.6) | (16.8%) |
Orthopedic Sales by Geography
| 4Q22 | 4Q21 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $90.9 | $102.5 | ($11.6) | (11.4%) |
| OUS | $21.5 | $32.7 | ($11.2) | (34.3%) |
| Total | $112.3 | $135.2 | ($22.9) | (16.9%) |
| FY22 | FY21 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $357.4 | $409.2 | ($51.8) | (12.7%) |
| OUS | $92.4 | $131.2 | ($38.8) | (29.6%) |
| Total | $449.8 | $540.4 | ($90.6) | (16.8%) |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $228.2 | |
| Cost of Sales | $73.3 | 32.1% |
| Selling and Admin | $134.5 | 58.9% |
| R & D | $15.3 | 6.7% |
| Other | $35.4 | 15.5% |
| Net Earnings | ($30.3) | (13.3%) |
ZimVie reported 4Q22 orthopedic sales of $112.3 million, -16.9% compared to 4Q21. The company's 2022 orthopedic sales totaled $449.8 million, -16.8% compared to the prior year.
In its first year post-spin from Zimmer Biomet, the company took necessary steps in its years-long transformation. ZimVie decided to leave the Chinese spine market...
ZimVie reported 4Q22 orthopedic sales of $112.3 million, -16.9% compared to 4Q21. The company’s 2022 orthopedic sales totaled $449.8 million, -16.8% compared to the prior year.
In its first year post-spin from Zimmer Biomet, the company took necessary steps in its years-long transformation. ZimVie decided to leave the Chinese spine market as part of its brand rationalization.
The company also undertook three major enterprise resource planning (ERP) conversions in the second half of 2022. Those conversions resulted in lost spine sales of $7 million due to supply disruptions.
ZimVie’s Tether device added nearly 35 million covered lives through insurance policy wins in 2022.
With the increasing importance of enabling technology in spine implant sales, the company plugged another gap in its portfolio by partnering with Brainlab.
“We are very excited to announce a partnership and global development agreement with Brainlab for spine-enabling technologies,” said ZimVie CEO Vafa Jamali. “Brainlab fits exactly with our strategy to leverage broadly compatible solutions with an established footprint to drive greater pull-through across our spine portfolio.”
The company expects another year of hurdles in 2023, with spine sales declines in the mid-teens.
Orthopedic Sales Data
All orthopedic sales data is provided in USD millions unless otherwise noted. Orthopedic sales and growth rates are estimated on an as-reported basis.
Orthopedic Sales by Segment
| 4Q22 | 4Q21 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $87.6 | $106.8 | ($19.2) | (18%) |
| Orthobiologics | $16.8 | $19.6 | ($2.8) | (14.1%) |
| Enabling Technology | $1.9 | $2.2 | ($0.3) | (11.7%) |
| Other (Bone Healing) | $6.0 | $6.6 | ($0.7) | (10.1%) |
| Total | $112.3 | $135.2 | ($22.9) | (16.9%) |
| FY22 | FY21 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $350.8 | $420.1 | ($69.3) | (16.5%) |
| Orthobiologics | $65.2 | $78.6 | ($13.4) | (17%) |
| Enabling Technology | $7.4 | $8.4 | ($1.0) | (11.5%) |
| Other (Bone Healing) | $26.3 | $33.2 | ($6.9) | (20.9%) |
| Total | $449.8 | $540.4 | ($90.6) | (16.8%) |
Orthopedic Sales by Geography
| 4Q22 | 4Q21 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $90.9 | $102.5 | ($11.6) | (11.4%) |
| OUS | $21.5 | $32.7 | ($11.2) | (34.3%) |
| Total | $112.3 | $135.2 | ($22.9) | (16.9%) |
| FY22 | FY21 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $357.4 | $409.2 | ($51.8) | (12.7%) |
| OUS | $92.4 | $131.2 | ($38.8) | (29.6%) |
| Total | $449.8 | $540.4 | ($90.6) | (16.8%) |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $228.2 | |
| Cost of Sales | $73.3 | 32.1% |
| Selling and Admin | $134.5 | 58.9% |
| R & D | $15.3 | 6.7% |
| Other | $35.4 | 15.5% |
| Net Earnings | ($30.3) | (13.3%) |
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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.
