Zimmer Biomet's spine and dental spinoff company, ZimVie, dipped in its first quarter revenue and spine sales, according to results posted May 5.
Five things to know:
1. First quarter revenue in 2022 was $234.7 million, a decrease of 4.6 percent year-over-year.
2. Spine sales fell 13.9 percent year-over-year with $114.1 million. That dip was driven by the exit of unprofitable markets in late 2021, discontinuing products and the impact of COVID-19.
3. ZimVie saw a net loss of $25.7 million.
4. Dental sales increased 6.4 percent year-over-year with $120.6 million.
5. "With renewed focus, we see an incredible opportunity to grow our leadership presence in the dental and spine markets, and we look forward to executing on our plan to improve the performance of our business over time," CEO Vafa Jamali said in a news release.