ZimVie, Zimmer Biomet's spine and dental spinoff company, cracked $1 billion in third-party revenue and is on track to see similar results in 2022.
Four things to know:
1. ZimVie completed its spine brand rationalization in the second half of 2021 and spun off as an independent, publicly traded company in 2022, according to financial results posted March 31.
2. Third-party revenue in 2021 consisted of $469 million in dental sales and $540 million in spine sales. The spine segment rose 2.1 percent compared to 2020, largely driven by increased procedure volume.
3. Total third-party revenue of a little more than $1 billion in 2021 was a 12.5 percent increase compared to 2020.
4. ZimVie is reaffirming its previous 2022 financial guidance of $1 billion estimated revenue.