Zimmer Biomet has announced its financial results for 2016, during which it generated a net sales total of $7.68 billion (6.2 billion pounds).
This represents an increase of 28.1 percent over the prior year, or a year-on-year rise of 3.4 percent on a constant currency basis. The strong double-digit improvement reflected the broadened scale of the business since the acquisition of Biomet.
“Zimmer Biomet has achieved double-digit sales growth in 2016, with a strong performance achieved in the fourth quarter.“
In the fourth quarter, net sales came to $2.01 billion, an increase of 4.1 percent over the final quarter of 2015. These growth trends included the reacceleration of the firm's knee and hip businesses, as well as the ongoing strength of its SET category and Asia-Pacific division.
For 2017, Zimmer Biomet expects a constant currency revenue increase of between 3.7 percent and 4.7 percent compared to 2016 as it continues to drive growth across its broad musculoskeletal portfolio.
David Dvorak, president and chief executive officer of Zimmer Biomet, said: "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 healthcare environment."
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