ZIMMER BIOMET HOLDINGS, INC. (ZBH)

Zimmer Biomet Holdings, Inc. is a global medical technology company that designs, manufactures, and markets a comprehensive portfolio of products aimed at maximizing mobility and improving health, primarily serving patients with disorders or injuries to bones, joints, and supporting soft tissues. Incorporated in Delaware in 2001 with roots dating back to 1927, the company operates through three regional segments—Americas, Europe/Middle East/Africa (EMEA), and Asia Pacific—with the Americas segment (primarily the U.S.) being the largest. Its core product lines include orthopedic reconstructive products such as knee and hip implants (notable brands include Persona® Knee, NexGen® Knee, Oxford® Partial Knee, Taperloc® Hip System, and G7® Acetabular System); an S.E.T. category encompassing sports medicine, biologics, foot and ankle, upper extremities, trauma, and craniomaxillofacial and thoracic (CMFT) products (brands like JuggerKnot® Soft Anchor System, Comprehensive® Shoulder, and SternaLock® System); and a Technology & Data, Bone Cement and Surgical category featuring the ZBEdge® Platform, which integrates robotic and digital technologies (including the ROSA® Robot) to support surgical decision-making through data analytics and artificial intelligence.

The company's primary customers include orthopedic surgeons, neurosurgeons, healthcare institutions, stocking distributors, and healthcare dealers, with sales made through direct channels to hospitals and ambulatory surgery centers as well as through distributors, with consignment sales representing about 85 percent of 2024 net sales; no single customer accounted for more than 2 percent of net sales. The company competes primarily against Johnson & Johnson MedTech, Stryker Corporation, and Smith & Nephew plc in a highly competitive global orthopedics and musculoskeletal care industry, differentiating through technology, innovation, quality, and customer service. Zimmer Biomet maintains extensive research and development operations, primarily based in Warsaw, Indiana, with additional sites in Canada, China, France, and Switzerland, employing approximately 2,000 R&D personnel out of a total workforce of about 17,000 globally.

The company manufactures products at various owned facilities and through outsourced suppliers, holds over 6,000 issued patents and patent applications worldwide, and operates under extensive regulatory oversight from bodies such as the FDA, EU MDR, and various international health authorities governing medical device development, manufacturing, and marketing.