Zimmer Biomet reports fourth-quarter, full-year 2016 financial results

Zimmer Biomet Holdings Inc. has announced its fourth-quarter and full-year financial results for 2016.

According to a company release, Zimmer Biomet’s net sales for the fourth quarter were $2.013 billion, a 4.1% increase from the previous year period. Revenue increased by 4.4% from the prior year period based on the adjusted, constant currency basis due to the company acquiring LDR Holding Corporation, which contributed to about 230 basis points. Apart from the contribution from LDR, Zimmer Biomet reports a 3.5% increase in revenues compared with the fourth quarter of 2015.

Net sales for the full year were $7.7 billion, a 28.1% increase from the previous year. Zimmer Biomet states the full-year revenue increased 3.4% from the previous year, with the acquisition of LDR contributing 110 basis points. Excluding the contribution from the LDR transaction, Zimmer Biomet reported a 2.3% increase in full-year revenues on a constant currency, adjusted pro forma basis, according to the release.

“Zimmer Biomet delivered solid revenue growth in the fourth quarter,” David Dvorak, president and CEO, Zimmer Biomet, said in the release. “Our performance was driven, in part by the reacceleration of our Knee and Hip business, as well as the ongoing strength of our [surgical, sports medicine, foot and ankle, extremities and trauma] S.E.T. category and Asia Pacific region. As we reflect on the completion of our first full year as a combined company, our achievements have further strengthened our confidence in the unique value-creation opportunity we offer in the dynamic global health care environment. We will continue to drive growth across our broad musculoskeletal portfolio in 2017, as we remain focused on delivering against our net synergy commitments and making ongoing progress toward optimizing and harmonizing our supply chain and manufacturing and quality systems.”

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