Zimmer Biomet outlined a three-year plan to bring above-market growth by the end of 2027.
The company's long-range plan aims for mid-single-digit constant currency consolidated revenue CAGR, adjusted earnings per share of at least 1.5 times revenue growth and free cash flow growing at least 100 basis points faster than adjusted EPS, according to a news release.
Part of their strategy includes a partnership with commercial real estate services company CBRE Group to develop and outfit ASCs in the U.S.
Drivers of Zimmer Biomet's opportunities also include diversifying into higher growth markets, delivering on new growth profiles, returning at least 65% of free cash flow to shareholders and strategic acquisitions.
In its first quarter of 2024, Zimmer Biomet saw $1.9 billion in revenue. The company's net earnings dipped 0.4% year-over-year with $172.8 million.
"Today, as a global leader in medtech and orthopedics, we are laser focused on providing customer-centric solutions designed to reduce safety concerns, maximize efficiency and deliver best-in-class clinical outcomes," Zimmer Biomet CEO Ivan Tornos said in the release. "We are confident that as we move forward from this position of strength, Zimmer Biomet will continue to innovate, execute and allocate capital to maximize shareholder value."