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Zimmer Offers Update On Anticipated Device Tax Impact For 2013

The orthopedic device maker now forecasts the financial impact of the impending device excise tax in 2013 will be less for Zimmer than previously anticipated, since about half of it can be deferred by six months under the firm’s updated accounting plan.

Zimmer Biomet Holdings Inc. expects the hit it will take from the impending medical device excise tax next year will be lower than prior estimates due to the way it now plans to report the expense on its income statement, Chief Financial Officer James Crines told analysts during the firm’s Oct. 25 third-quarter earnings call.

Previously, the orthopedic device maker had estimated the tax, slated to take effect in January 2013, would cost Zimmer about...

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