Zimmer Biomet Shifts to Offense in 2019

February 5, 2019 Business, Medical Devices, Medical Technology, Orthopedics, Zimmer Biomet

After spending 2018 dealing with quality control remediation and supply chain issues, Zimmer Biomet expects to return to market growth by 2020.

Bryan Hanson knew when he accepted the job of CEO of Zimmer Biomet in December 2017 that he had a tall order to fill. The company has struggled with quality control and supply chain problems since December 2016, which created investor frustration that ultimately led to former CEO David Dvorak’s resignation. Hanson told investors when he came on board that righting the ship would take two years and so far the company appears to be on the right course.

“Our performance was better in 2018 than 2017 and we expect 2019 to be better than 2018,” Hanson said during the company’s earnings call last week. “While we’re halfway through the turnaround timeline, importantly, we have retired more than half the risk associated with that plan. Although we still have a lot of work to do, we have a team that’s ready to launch important new solutions for our customers and deliver on our near-term commitments to transition the organization to full offense and prepare for 2020 and beyond.”

Hanson said the company made significant progress across all of its short-term priorities last year, including supply recovery, quality remediation, new product launches, driving a “One ZB” mission and culture, as well as talent and structure.

“These are the priorities that will allow us to reshape Zimmer Biomet and begin to position the business for offense,” he said.

By Amanda Pedersen | MD+DI

Image Credit: Amanda Pedersen / MD+DI

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Peter Coffaro is a growth-driven and strategic executive with over 25 years of progressive management success in the medical device industry. With a proven track record and recognized expertise, Peter has established himself as one of the top influencers in medical sales, as acknowledged by prestigious publications such as the World Journal of Orthopedics, Exponential Healthtech, and MedReps.com. Throughout his career, Peter has accumulated 10 years of combined sales management experience, excelling in various roles including Director, General Manager, Distributor, and Vice President. He has worked for industry-leading orthopedic companies such as Zimmer, DePuy, and Stryker, solidifying his deep knowledge and network within the field. Peter’s passion for innovation and emerging technologies led him to found OrthoFeed, an award-winning blog covering digital orthopedic news and emerging medical technologies. Through this platform, he stays at the forefront of the industry and contributes to the dissemination of valuable insights. Peter is a three-time Hall of Fame award winner at Johnson and Johnson, demonstrating his exceptional contributions and impact on the organization. His expertise extends to areas such as organizational development, business development, sales management, digital marketing, and professional education. Peter earned a B.S. degree in Biology and Chemistry from Northern Illinois University, further complementing his comprehensive understanding of the medical field. With his wealth of experience, strategic mindset, and dedication to advancing healthcare, Peter Coffaro is a valuable asset and leader in the medical device industry.