zimmer holdings inc (ZMH) Key Developments
Zimmer Holdings, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Revised Earnings Guidance for the Year 2015; Provides Earnings Guidance for 2016
Apr 30 15
Zimmer Holdings, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company has posted Net Sales were $1,134.4 million against $1,161.5 million a year ago. Operating profit was $274.9 million against $300.1 million a year ago. Earnings before income tax were $231.8 million against $285.9 million a year ago. Net earnings were $176.8 million against $221.1 million a year ago. Diluted EPS was $1.02 against $1.29 a year ago. Net cash provided by operating activities were $91.5 million against $188.8 million a year ago. The decrease was driven primarily by the settlement of a pre-issuance hedge associated with recently completed senior notes offering. Additions to instruments were $62.4 million against $49.4 million a year ago. Additions to other property, plant and equipment was $34.4 million against $31.4 million a year ago. Purchases of investments were $152.6 million against $600.7 million a year ago. Investments in other assets were $3.0 million. Adjusted diluted EPS was $1.58 against $1.60 a year ago. Adjusted operating profit in the quarter amounted to $386.2 million. Adjusted net earnings were $272.8 million for the first quarter, a decrease of 0.6% compared to the prior year.
Based upon the continued strengthening of the U.S. dollar, the company has updated its full-year 2015 standalone adjusted earnings guidance. The company now expects adjusted diluted earnings per share on a standalone basis to be in a range of $6.30 to $6.40. This compared to prior full-year 2015 guidance of $6.50 to $6.60. Additionally, changes in currency rates are also expected to negatively impact Biomet earnings, which the company expects to be partially offset by greater synergies from the pending merger than had previously been contemplated in the company's guidance. Net annual operating earnings synergies connected with the pending merger are now anticipated to reach $350 million by year three following the closing of the transaction. This compares to prior guidance of net annual synergies of $270 million by the third year post-closing. Consequently, the company now expects accretion from the pending merger with Biomet to contribute between $0.95 and $1.05 to adjusted diluted earnings per share in the first 12 months following the closing of the transaction. This accretion guidance was previously a range of $1.05 to $1.15. The company expects foreign currency translation will decrease reported revenues for the full year by 6.5% to 7%. The company expects revenues to grow organically between 1.5% and 2.5% over pro forma 2014 revenues or between $6.17 billion and $6.2 billion.
For the year 2016, the company's adjusted diluted earnings per share should grow at mid-teens or higher rate compared to 2015 guidance of $6.60 to $6.80.
Zimmer Holdings Launches New External Fixation System for Trauma Patients
Apr 3 15
Zimmer Holdings, Inc. has launched a new external fixation system for trauma patients. Available in both small (6mm) and large (11mm) systems, the XtraFix External Fixation System from Zimmer is a modular system that offers surgeons advances in design technology and materials. The XtraFix System allows surgeons to eliminate steps, as well as bars and clamps from the external fixation process, resulting in saved time, costs and overall team effort. This transitional feature enables surgeons to accommodate small extremity fractures in larger constructs. In addition, the XtraFix 3D Bar/Pin-to-Bar/Pin design means pins can be placed where the fracture dictates, not the fixator, and flexible configurations means constructs require fewer components.
Zimmer Launches New Mobile App for Gel-One Hyaluronate Product
Apr 3 15
Zimmer Holdings, Inc. has launched a new mobile app designed for patients of its Gel-One Hyaluronate product. For those experiencing knee pain, the Gel-One Patient App from Zimmer provides valuable information about the causes of knee pain and helps them understand more about the potential of Gel-One Hyaluronate as a safe and simple non-surgical treatment option. For those who have had a Gel-One Hyaluronate injection or are looking to get one, the app offers a number of features, including educational resources on Gel-One Hyaluronate, a location-based surgeon finder, and a pain tracker that enables patients to record their pain level on a daily basis.
Zimmer Unveils New Outpatient Program for Total Knee Replacement
Apr 1 15
Zimmer Holdings, Inc. has unveiled the new Z23 Outpatient Knee Program for total knee replacement patients. The new Z23 Outpatient Knee Program uses a simplified surgical approach, a personalized care plan and at-home recovery for select patients - backed by an extensive training program - to enable surgeons to provide total knee replacement using the Zimmer Persona Knee System in an outpatient setting. The program focuses on several key factors, including the establishment of quality team members to promote outstanding patient experiences; systematic and predictable patient selection; the alignment of objectives across all members of the healthcare team; and strict adherence to and fulfillment of discharge plan objectives. Prior to offering the Z23 Program, participating surgeons and staff undergo an intensive training regiment covering all aspects of the program, including patient selection and preparation, operating procedures and immediate post-op care, discharge management and remote patient monitoring, and in-person and virtual physical therapy.
Zimmer Debuts New Modular External Fixation System
Mar 27 15
Zimmer Holdings, Inc. is launching a new, more efficient external fixation system for trauma patients. Available in both small (6mm) and large (11mm) systems, the XtraFix® External Fixation System from Zimmer is a modular system that offers surgeons advances in design technology and materials. The XtraFix System allows surgeons to eliminate steps, as well as bars and clamps from the external fixation process, resulting in saved time, costs and overall team effort. The recently released small (6mm) system gives surgeons the ability to connect small and large systems with a single clamp. This transitional feature enables surgeons to accommodate small extremity fractures in larger constructs. In addition, the XtraFix 3D Bar/Pin-to-Bar/Pin design means pins can be placed where the fracture dictates, not the fixator, and flexible configurations means constructs require fewer components.