WARSAW, Ind., Feb. 16, 2021 /PRNewswire/ -- Zimmer Biomet
Holdings, Inc. (NYSE and SIX: ZBH), a global leader in
musculoskeletal healthcare, today announced that after an extensive
search, Vafa Jamali has been
appointed as CEO of "NewCo", the independent, publicly traded
company that will be created by a previously announced spin off
transaction, expected to close in mid-2022. NewCo will be
comprised of Zimmer Biomet's current Spine and Dental
businesses.
Mr. Jamali most recently served as the Chief Commercial Officer
of Rockley Photonics, where he led commercial strategic planning
for the early-stage integrated optics solutions provider.
Prior to that, he was Senior Vice President and President of
Respiratory, Gastrointestinal & Informatics (RGI) at Medtronic,
responsible for the strategic direction, R&D, global execution
and leadership of the $3 billion in
annual revenue business that included 10,000 team members across
four businesses and 14 manufacturing sites. During his tenure
at Medtronic, he was also successful in significantly accelerating
growth and expanding margins across his division within the
company.
"Vafa's extensive knowledge and experience in building teams,
developing long-term growth strategies, prioritizing resources,
driving execution and delivering growth across the medical device
industry make him the ideal leader to shape the direction of NewCo
and move the business forward," said Bryan
Hanson, President and CEO of Zimmer Biomet. "I look
forward to partnering with Vafa – and the leadership team that he
builds – through this important transition so we can position NewCo
for maximum success."
"I'm so excited to join NewCo at this pivotal time in the
company's creation," said Mr. Jamali. "This is a prime
opportunity to leverage my experience in execution and value
creation for NewCo. I am looking forward to working closely
with the new team to develop and drive investment strategies and a
plan for long-term growth in the Spine and Dental markets – all
with a relentless focus on delivering for patients, customers, team
members and our future shareholders."
With more than 25 years of experience in the medical device
industry – including 20 years in executive leadership positions –
Mr. Jamali has extensive knowledge in a variety of medical device
specialties. Before leading the RGI business, he served as
Senior Vice President and President of Early Technologies at
Medtronic. Prior to Medtronic, he held leadership roles at
Covidien, Cardinal Health, and Baxter. Mr. Jamali received his Bachelor
of Commerce degree with distinction from the University of Alberta in Edmonton, Canada. He has completed a
number of executive leadership programs, including the Harvard Executive Leadership Program in 2020.
Mr. Jamali also serves on the Board of Directors for Baylis
Medical, a manufacturer of innovative cardiology devices.
About the Company
Founded in 1927 and headquartered in Warsaw, Indiana, Zimmer Biomet is a global
leader in musculoskeletal healthcare. We design, manufacture
and market orthopedic reconstructive products; sports medicine,
biologics, extremities and trauma products; office-based
technologies; spine, craniomaxillofacial and thoracic products;
dental implants; and related surgical products.
We collaborate with healthcare professionals around the globe to
advance the pace of innovation. Our products and solutions
help treat patients suffering from disorders of, or injuries to,
bones, joints or supporting soft tissues. Together with
healthcare professionals, we help millions of people live better
lives.
We have operations in more than 25 countries around the world
and sell products in more than 100 countries. For more
information, visit www.zimmerbiomet.com, or follow Zimmer Biomet on
Twitter at www.twitter.com/zimmerbiomet.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements within
the meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, including any statements about our
forecasts, expectations, plans, intentions, strategies or
prospects. Such statements are based upon the current
beliefs, expectations and assumptions of management and are subject
to significant risks, uncertainties and changes in circumstances
that could cause actual outcomes and results to differ materially
from the forward-looking statements. These risks,
uncertainties and changes in circumstances include, but are not
limited to, statements regarding the anticipated spin-off of our
Spine and Dental businesses, the future financial and operating
performance of each company following the transaction, benefits and
synergies of the transaction, strategic and competitive advantages
of each company, and future growth and other opportunities for each
company. There is no assurance that the proposed transaction
will be completed, that our Board of Directors will continue to
pursue the proposed transaction (even if there are no impediments
to completion), or that the proposed transaction will be the most
beneficial alternative considered. Forward-looking statements
involve risks and uncertainties that could cause actual results to
differ materially from historical experience or our present
expectations, including but not limited to risks and uncertainties
regarding economic, competitive, governmental, regulatory and
technological factors affecting our operations, markets, products,
services, customers and suppliers, the impact of the COVID-19
pandemic, as well as any changes in or abandonment of the proposed
transaction and our ability to satisfy the conditions to the
proposed transaction, and such forward-looking statements are not
guarantees of future performance. A further list and
description of these risks and uncertainties and other factors can
be found in our filings with the U.S. Securities and Exchange
Commission (SEC). Copies of these filings are available
online at www.sec.gov, www.zimmerbiomet.com or on request from
us. These factors should not be construed as exhaustive and
should be read in conjunction with the other cautionary statements
that are included in our filings with the SEC.
Forward-looking statements speak only as of the date they are made,
and we expressly disclaim any intention or obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise. Readers of this news
release are cautioned not to rely on these forward-looking
statements since there can be no assurance that these
forward-looking statements will prove to be accurate. This
cautionary note is applicable to all forward-looking statements
contained in this news release.
Media
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Investors
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Meredith
Weissman
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Keri
Mattox
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703-346-3127
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215-275-2431
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meredith.weissman@zimmerbiomet.com
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keri.mattox@zimmerbiomet.com
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Ezgi
Yagci 617-549-2443 ezgi.yagci@zimmerbiomet.com
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SOURCE Zimmer Biomet Holdings, Inc.