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Zimmer Biomet (ZBH) Opens New ZBEdge Centre in Singapore
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Zimmer Biomet Holdings, Inc. (ZBH - Free Report) recently announced the opening of the ZBEdge Customer Experience Centre (CEC) in Singapore to boost robotics and medical technology transformation. Notably, the ZBEdge CEC is Zimmer Biomet's first such center in the region.
The recent development is likely to strengthen Zimmer Biomet’s foothold in the emerging markets.
More on ZBEdge CEC
The ZBEdge Customer Experience Centre is the best quality facility that demonstrates Zimmer Biomet's latest technologies – ROSA robotics, mymobility digital health platform, OrthoIntel intelligence platform, OptiVu Mixed Reality along with the company's legacy orthopaedic implants.
The opening of ZBEdge CEC in Singapore is intended to provide a collaborative environment that will enable Zimmer Biomet to partner with healthcare professionals, academic associations and relevant institutions to create impactful healthcare solutions and hold surgical and clinical trainings by utilizing its connected technology ecosystem.
Significance of the New Facility
As a global leader in the MedTech industry, Zimmer Biomet is committed to offering customized experiences and delivering improved patient outcomes. The opening of CEC marks a huge milestone for Zimmer Biomet as it offers a truly unique environment for collaboration with Zimmer Biomet's business partners where the company can facilitate training and educational opportunities.
Image Source: Zacks Investment Research
The CEC will function as the interface between healthcare professionals and Zimmer Biomet through engaging and interactive training across all product portfolios by combining the strengths of the company's latest services and technologies to improve the learning journey with ease and efficiency.
Industry Prospects
Per a report by MARKETSANDMARKETS, the global artificial intelligence in the healthcare market is projected to rise from $6.9 billion in 2021 to $67.4 billion by 2027, at a CAGR of 46.2%.
The rising need to reduce healthcare costs, improve computing power and bring down hardware costs, and expand partnerships and collaborations among different domains in the healthcare sector are the major factors driving the market.
Recent Developments
During the fourth-quarter 2021 earnings call, Zimmer Biomet noted that it registered continued strong demand and momentum for ROSA globally. The company more than doubled the number of installed ROSAs in 2021 versus 2020. In the fourth quarter, those installed ROSAs allowed Zimmer Biomet to reach 10% in total knee procedure penetration in the United States for the first time as a company. Further, the company delivered a successful limited launch of the world's first and really only smart knee, the Persona iQ, during the fourth quarter.
The company also noted that ZBEdge is getting a lot of traction and is creating brand awareness for the company to be a leading-edge organization, driving revenue growth.
Price Performance
Shares of the company have lost 27.6% in a year compared with the industry's fall of 18.9%.
Zacks Rank and Key Picks
Zimmer Biomet currently carries a Zacks Rank #5 (Strong Sell).
A few better-ranked stocks in the broader medical space that investors can consider are AMN Healthcare Services, Inc. (AMN - Free Report) , Henry Schein, Inc. (HSIC - Free Report) and West Pharmaceutical Services, Inc. (WST - Free Report) .
AMN Healthcare, carrying a Zacks Rank #2 (Buy), has a long-term earnings growth rate of 16.2%. The company surpassed earnings estimates in the trailing four quarters, delivering a surprise of 19.5%, on average.
AMN Healthcare has outperformed its industry over the past year. AMN has gained 23.8% versus the 62% industry decline.
Henry Schein has an estimated long-term growth rate of 11.8%. Henry Schein’s earnings surpassed estimates in the trailing four quarters, the average surprise being 21.86%. It currently carries a Zacks Rank #2. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Henry Schein has gained 6.1% compared with the industry’s 1.7% rise over the past year.
West Pharmaceutical has a long-term earnings growth rate of 27.6%. West Pharmaceutical surpassed earnings estimates in the trailing four quarters, delivering an average surprise of 29.4%.
West Pharmaceutical has outperformed its industry over the past year. WST currently carries a Zacks Rank of 2.
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Zimmer Biomet (ZBH) Opens New ZBEdge Centre in Singapore
Zimmer Biomet Holdings, Inc. (ZBH - Free Report) recently announced the opening of the ZBEdge Customer Experience Centre (CEC) in Singapore to boost robotics and medical technology transformation. Notably, the ZBEdge CEC is Zimmer Biomet's first such center in the region.
The recent development is likely to strengthen Zimmer Biomet’s foothold in the emerging markets.
More on ZBEdge CEC
The ZBEdge Customer Experience Centre is the best quality facility that demonstrates Zimmer Biomet's latest technologies – ROSA robotics, mymobility digital health platform, OrthoIntel intelligence platform, OptiVu Mixed Reality along with the company's legacy orthopaedic implants.
The opening of ZBEdge CEC in Singapore is intended to provide a collaborative environment that will enable Zimmer Biomet to partner with healthcare professionals, academic associations and relevant institutions to create impactful healthcare solutions and hold surgical and clinical trainings by utilizing its connected technology ecosystem.
Significance of the New Facility
As a global leader in the MedTech industry, Zimmer Biomet is committed to offering customized experiences and delivering improved patient outcomes. The opening of CEC marks a huge milestone for Zimmer Biomet as it offers a truly unique environment for collaboration with Zimmer Biomet's business partners where the company can facilitate training and educational opportunities.
The CEC will function as the interface between healthcare professionals and Zimmer Biomet through engaging and interactive training across all product portfolios by combining the strengths of the company's latest services and technologies to improve the learning journey with ease and efficiency.
Industry Prospects
Per a report by MARKETSANDMARKETS, the global artificial intelligence in the healthcare market is projected to rise from $6.9 billion in 2021 to $67.4 billion by 2027, at a CAGR of 46.2%.
The rising need to reduce healthcare costs, improve computing power and bring down hardware costs, and expand partnerships and collaborations among different domains in the healthcare sector are the major factors driving the market.
Recent Developments
During the fourth-quarter 2021 earnings call, Zimmer Biomet noted that it registered continued strong demand and momentum for ROSA globally. The company more than doubled the number of installed ROSAs in 2021 versus 2020. In the fourth quarter, those installed ROSAs allowed Zimmer Biomet to reach 10% in total knee procedure penetration in the United States for the first time as a company. Further, the company delivered a successful limited launch of the world's first and really only smart knee, the Persona iQ, during the fourth quarter.
The company also noted that ZBEdge is getting a lot of traction and is creating brand awareness for the company to be a leading-edge organization, driving revenue growth.
Price Performance
Shares of the company have lost 27.6% in a year compared with the industry's fall of 18.9%.
Zacks Rank and Key Picks
Zimmer Biomet currently carries a Zacks Rank #5 (Strong Sell).
A few better-ranked stocks in the broader medical space that investors can consider are AMN Healthcare Services, Inc. (AMN - Free Report) , Henry Schein, Inc. (HSIC - Free Report) and West Pharmaceutical Services, Inc. (WST - Free Report) .
AMN Healthcare, carrying a Zacks Rank #2 (Buy), has a long-term earnings growth rate of 16.2%. The company surpassed earnings estimates in the trailing four quarters, delivering a surprise of 19.5%, on average.
AMN Healthcare has outperformed its industry over the past year. AMN has gained 23.8% versus the 62% industry decline.
Henry Schein has an estimated long-term growth rate of 11.8%. Henry Schein’s earnings surpassed estimates in the trailing four quarters, the average surprise being 21.86%. It currently carries a Zacks Rank #2. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Henry Schein has gained 6.1% compared with the industry’s 1.7% rise over the past year.
West Pharmaceutical has a long-term earnings growth rate of 27.6%. West Pharmaceutical surpassed earnings estimates in the trailing four quarters, delivering an average surprise of 29.4%.
West Pharmaceutical has outperformed its industry over the past year. WST currently carries a Zacks Rank of 2.