From advancing its total joint implants to seeking new acquisitions, Zimmer Biomet had a busy third quarter.
Five notes:
1. Zimmer Biomet signed a definitive agreement to acquire OrthoGrid Systems. The acquisition includes Hip AI and two more FDA-cleared orthopedic applications and more than 40 patents.
2. Zimmer Biomet's smart knee implant, Persona IQ, is gearing up for more development and expansion in the coming year, CEO Ivan Tornos said in an Aug. 7 earnings call. The company is planning payer discussions for risk-sharing agreements and a short stem extension for the implant.
3. Zimmer Biomet named David DeMartino as its new senior vice president of investor relations. He stepped into the role Sept. 9.
4. Think Surgical's TMini robot was FDA cleared for use with Zimmer Biomet's Persona knee replacement system.
5. The FDA issued a warning about the increased risk of thigh bone fractures post-surgery with the use of the Zimmer Biomet CPT Hip System. Zimmer Biomet issued a voluntary recall of the system on July 2 to update instructions and plans to phase out the sale of the device by December 2024.