WARSAW, Ind., Jun 5, 2003 /PRNewswire-FirstCall via COMTEX/ --
Zimmer Holdings, Inc. (NYSE: ZMH) announced today that the company has been recognized as the top orthopaedic "Hot Growth Company" and is profiled in the June 9, 2003, issue of Business Week magazine. Zimmer was ranked the #26 Hot Growth Company overall. The article says that the company's gross margins of 75% have "helped boost its average return on invested capital over the past three years to 63.6% -- the best in this year's class."
The magazine also notes that over the past three years, Zimmer's "sales rose by 14% per year, on average, to $1.4 billion, while profits climbed 16% a year, to $283.4 million."
"We believe the Business Week article accurately reflects our stature and the industry's, with excellent growth occurring because of advances in technology and an aging population," said Zimmer Chairman, President and Chief Executive Officer Ray Elliott. "Through our leadership in Minimally Invasive Solutions(TM) (MIS(TM)) Procedures and Technologies, we are working to address the requirements of an expanding and increasingly younger patient population."
Zimmer, based in Warsaw, Indiana, is a global leader in the design, development, manufacture and marketing of reconstructive orthopaedic implants and trauma products. Orthopaedic reconstruction implants restore joint function lost due to disease or trauma in joints such as knees, hips, shoulders and elbows. Trauma products are devices used primarily to reattach or stabilize damaged bone and tissue to support the body's natural healing process. Zimmer also manufactures and markets other products related to orthopaedic and general surgery. For the year 2002, Zimmer recorded worldwide revenues of approximately $1.4 billion. Zimmer was founded in 1927 and has more than 3,600 employees worldwide.
Visit Zimmer on the worldwide web at www.zimmer.com
This press release contains forward-looking statements based on current expectations, estimates, forecasts and projections about the orthopaedics industry, management's beliefs and assumptions made by management. Forward- looking statements may be identified by the use of forward-looking terms such as "may," "will," "expects," "believes," "anticipates," "plans," "estimates," "projects," "targets," "forecasts," and "seeks" or the negative of such terms or other variations on such terms or comparable terminology. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that could cause actual outcomes and results to differ materially. These risks and uncertainties include, but are not limited to, price and product competition, rapid technological development, demographic changes, dependence on new product development, the mix of our products and services, supply and prices of raw materials and products, customer demand for our products and services, our ability to successfully integrate acquired companies, control of costs and expenses, our ability to form and implement alliances, international growth, U.S. and foreign government regulation, product liability and intellectual property litigation losses, reimbursement levels from third-party payors, general industry and market conditions and growth rates and general domestic and international economic conditions including interest rate and currency exchange rate fluctuations. For a further list and description of such risks and uncertainties, see the reports filed by Zimmer with the Securities and Exchange Commission. Zimmer disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Zimmer Holdings, Inc.
Media, Brad Bishop, +1-574-372-4291, or
[email protected], or Investors, Sam Leno, +1-574-372-4790, or
[email protected]
http://www.zimmer.com
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