WARSAW, Ind. and WESTMINSTER, Colo., Feb. 7, 2022 /PRNewswire/ -- ZimVie, the intended
standalone, publicly traded entity to be spun off from Zimmer
Biomet Holdings, Inc. (NYSE and SIX: ZBH), will host its inaugural
Investor Day today, February 7, 2022,
from 11:00 a.m. to approximately
2:00 p.m. Eastern Time. Investors can
access the webcast here or by visiting Zimmer Biomet's
Investor Relations website at
https://investor.zimmerbiomet.com.
The virtual event will feature presentations from ZimVie leaders
outlining its Spine and Dental offerings, addressable market
opportunity, business strategy, and financial outlook. The event
will feature a live Q&A panel following speaker
presentations.
In conjunction with the event, ZimVie is providing the
following full-year 2022 financial guidance:
Projected Year
Ending December 31, 2022
|
Revenue
|
$1.0B (Flat to
2021)
|
Adjusted
EBITDA Margin*
|
13.1% to
13.6%
(Flat to 50bps
improvement)
|
Adjusted
EPS*
|
$2.10 to
$2.30
|
|
* These measures are
non-GAAP financial measures for which a reconciliation to the most
directly comparable
GAAP financial measure is not available without unreasonable
efforts. See "Forward-Looking Non-GAAP Financial
Measures" below. Not fully diluted for 2022.
|
Continued uncertainty due to the ongoing COVID-19 pandemic could
materially impact the company's projections.
"At ZimVie, we intend to prioritize innovation and enhanced
commercial and operational focus to improve the adoption of our
product platforms within the growing $20
billion global dental and spine markets," said Vafa Jamali, President and Chief Executive
Officer of ZimVie. "As an independent company, we will be uniquely
positioned to expand the reach of our solutions and execute on
opportunities to drive sustainable growth and long-term shareholder
value as we bring renewed energy and strategic focus to our brands
and products that are trusted all over the world."
Zimmer Biomet announced in February
2021 its intent to form a new independent, publicly traded
company to optimize resource allocation and drive toward market
leadership. That transaction process remains on track, with
ZimVie's first day of trading as a standalone entity anticipated on
March 1, 2022.
About Zimmer Biomet
Zimmer Biomet
is a global medical technology leader with a
comprehensive portfolio designed to maximize mobility and improve
health. We seamlessly transform the patient experience through
our innovative products and suite of integrated digital and robotic
technologies that leverage data, data analytics and artificial
intelligence.
With 90+ years of trusted leadership and proven expertise,
Zimmer Biomet is positioned to deliver the highest quality
solutions to patients and providers. Our legacy continues to
come to life today through our progressive culture of evolution and
innovation.
For more information about our product portfolio, our operations
in 25+ countries and sales in 100+ countries or about joining our
team, visit www.zimmerbiomet.com or follow Zimmer Biomet
on Twitter at www.twitter.com/zimmerbiomet.
About ZimVie
ZimVie will focus on the dental and spine markets and their
respective growth drivers such as implants, surgical tools, bone
graft substitutes, spinal fusion implants, non-fusion alternatives,
and digital care management solutions. "Zim" derives from Zimmer
Biomet, the new company's roots — and "Vie" is the French word for
"life," symbolizing the future. ZimVie's headquarters will be in
Westminster, Colorado.
Forward-Looking Non-GAAP Financial Measures
This press
release includes certain forward-looking non-GAAP financial
measures for the year ending December 31,
2022 that differ from financial measures calculated in
accordance with U.S. generally accepted accounting
principles ("GAAP"). These non-GAAP financial measures may not
be comparable to similar measures reported by other companies and
should be considered in addition to, and not as a substitute for,
or superior to, other measures prepared in accordance with
GAAP. We calculate forward-looking non-GAAP financial measures
based on internal forecasts that omit certain amounts that would be
included in GAAP financial measures. We have not provided
quantitative reconciliations of these forward-looking non-GAAP
financial measures to the most directly comparable forward-looking
GAAP financial measures because the excluded items are not
available on a prospective basis without unreasonable efforts due
to our limited visibility into and inability to make accurate
projections and estimates of items, including GAAP allocations and
other GAAP carveout adjustments. These items may vary greatly from
year to year and could significantly impact our results as reported
in accordance with GAAP. In addition, the company believes such
reconciliations would imply a degree of precision and certainty
that could be confusing to investors. It is probable that
these forward-looking non-GAAP financial measures may be materially
different from the corresponding GAAP financial measures.
Forward-Looking Statements
This press release contains
forward-looking statements within the meaning of federal securities
laws, including, among others, any statements about our
expectations, plans, intentions, strategies or prospects. We
generally use the words "may," "will," "expects," "believes,"
"anticipates," "plans," "estimates," "projects," "assumes,"
"guides," "targets," "forecasts," "sees," "seeks," "should,"
"could," "would," "predicts," "potential," "strategy," "future,"
"opportunity," "work toward," "intends," "guidance," "confidence,"
"positioned," "design," "strive," "continue," "look forward to" and
similar expressions to identify forward-looking statements. 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: the effects of the COVID-19 global
pandemic and other adverse public health developments, dependence
on new product development, technological advances and innovation;
shifts in the product category or regional sales mix of our
products and services; supply and prices of raw materials and
products; pricing pressures; changes in customer demand for our
products and services; changes in and compliance with governmental
laws and regulations; competition; the impact of healthcare reform
measures; reductions in reimbursement levels by third-party payors;
cost containment efforts; dependence on a limited number of
suppliers for key raw materials and outsourced activities; the
ability to obtain and maintain adequate intellectual property
protection; breaches or failures of our information technology
systems or products; the ability to attract and retain independent
agents and distributors and skilled employees; risks associated
with significant indebtedness; restrictions on activities to
preserve the tax-free treatment of the distribution; the ability to
form and implement alliances; changes in tax obligations; product
liability, intellectual property and commercial litigation losses;
changes in general industry and market conditions and general
domestic and international economic conditions; and the impact of
the ongoing financial and political uncertainty in markets in which
we operate. 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.
Additional factors that could cause results to differ materially
from those described in the forward-looking statements can be found
in our filings with the Securities and Exchange Commission,
including our registration statement on Form 10.
Zimmer Biomet
Media
|
Zimmer
Biomet Investors
|
Meredith
Weissman
|
Keri
Mattox
|
703-346-3127
|
215-275-2431
|
meredith.weissman@zimmerbiomet.com
|
keri.mattox@zimmerbiomet.com
|
|
|
|
Ezgi
Yagci
|
|
617-549-2443
|
|
ezgi.yagci@zimmerbiomet.com
|
|
|
ZimVie Media
|
ZimVie
Investors
|
Laura
Driscoll
|
Marissa
Bych
|
774-284-1606
|
805-305-1244
|
laura.driscoll@zimmerbiomet.com
|
marissa@gilmartinir.com
|
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SOURCE Zimmer Biomet Holdings, Inc.