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ZimVie’s Expected Revenue and Launch Revealed
Zimmer Biomet first announced it would spin off the dental and spine unit in February of 2021.
February 7, 2022
1 Min Read
Image courtesy of PIXDUCE / Alamy Stock Photo
Zimmer Biomet’s spinoff, ZimVie, is going to come out of the gate swinging. The dental and spine is set to launch in March and is expected to take in about $1 billion in revenue for its first year.
"At ZimVie, we intend to prioritize innovation and enhanced commercial and operational focus to improve the adoption of our product platforms within the growing $20 billion global dental and spine markets," Jamali said in a release. "As an independent company, we will be uniquely positioned to expand the reach of our solutions and execute on opportunities to drive sustainable growth and long-term shareholder value as we bring renewed energy and strategic focus to our brands and products that are trusted all over the world."
ZimVie is the result of the third phase of Zimmer Biomet’s transformation. Prior to the announced spin-off Zimmer Biomet struggled with quality control and supply chain problems for about a year at that point, and those challenges had created investor frustration that ultimately led to former CEO David Dvorak's resignation in July 2017.
Bryan Hanson took the helm in December of 2017 and in October 2018, he told investors that Zimmer Biomet would have to reduce the size of its portfolio in order to simplify the supply chain and improve service levels to customers.
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