Back in April, MD+DI published an article offering five reasons that this would be Zimmer Biomet’s comeback year, and the Warsaw, IN-based company did not let us down. In fact, Zimmer Biomet accomplished even more in 2019 than we could have predicted at that time. That’s why, out of all 10 finalists, MD+DI has chosen Zimmer Biomet as the 2019 Medtech Company of the Year.
“We are honored that MD+DI has recognized Zimmer Biomet for our 2019 accomplishments. It has been a pivotal year due to the entire team’s relentless focus on our mission and driving a winning culture,” said CEO Bryan Hanson. “We look forward to the company reaching more milestones in 2020 and to bringing forward even more innovation that improves the lives of people around the world.”
To fully appreciate the company’s 2019 accomplishments we have to look back at the challenges the company faced as Hanson came on board in December 2017. The company had been struggling with quality control and supply chain problems since December 2016, which had created investor frustration that ultimately led to former CEO David Dvorak’s resignation in July 2017.
In April 2018, after gaining better clarity on where Zimmer Biomet needed to improve, Hanson said it would take two years to turn the company around and return to positive market share growth. Under his leadership the company kept those turnaround efforts on track and, in some respects, ahead of schedule.
During 2019 the company moved from a defensive position to an offensive position as it not only earned back trust from its customer base but also began to win new business. It was also an important year for Zimmer Biomet’s pipeline and commercial strategy as the company launched new products in the knee implant market along with the launch of knee, spine, and brain applications for its Rosa robotic system.
Image Credit: Zimmer Biomet