Fourth-quarter 2019 revenue at Zimmer Biomet Holdings Inc. rose 2.6% over the prior year period (3.2% in constant currency) to $2.13bn, fueled by a strengthening knee business, which accounted for around 35% of the $761m total knee revenue. Growth in full-year sales was 0.6% (2.2% in constant currency), to $7.98bn and was higher than the company's expectations at the beginning of 2019, where it predicted growth between -0.5% and 0.5%. But it was still below a relatively weak 1.7% reported growth in 2018.
Knees Boost Zimmer Biomet; Turnaround Continues, But FDA Woes Linger
Zimmer Biomet reported Q4 results that reflected solid progress in the company’s turnaround efforts, with knees leading the charge. But the company is making slower-than-expected progress resolving FDA warning letter issues and faces a new bribery lawsuit in Mexico.
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