Biomet is now Zimmer Biomet

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Biomet
 
 
 
 

Biomet History
Timeline - Success Throughout the Years

Year
1977
  • Biomet is incorporated with eight team members on November 30, 1977
1978
  • Records $17,000 net sales and $63,000 net loss
1980
  • Reaches $1.1 million net sales
  • Groundbreaking for the current Biomet facility
1981
  • Completion of first facility
1982
  • $1.25 million? raised through Initial Public Offering
1983
  • Introduction of AGC Total Knee System, the first system to offer complete component interchangeability
1984
  • Acquisition of Orthopedic Equipment Company (OEC)
  • Dane Miller is named Small Business Person of the Year in Indiana
1985
  • Introduction of Bi-Metric Hip, AGC Calibrated Distractor and Redi-Drape
1986
  • $24.7 million raised in Secondary Public Offering
  • Groundbreaking for third building addition
1987
  • Biomet is recognized as one of Business Week’s Hot Growth Companies
1988
  • Acquisition of EBI, a leader in electrical stimulation and external fixation markets
1989
  • Indiana Business names Dane Miller "Entrepreneur of the Year" for High Technology Sector
1990
  • EBI introduces SpF line of Spinal Fusion Stimulators
1991
  • President George Bush presents Dane Miller and Niles Noblitt with the Small Business Administration National Entrepreneurial Success Award
  • Stock splits 2 for 1 in January and December
  • Completion of facility expansion and new building construction
1992
  • Acquisition of W. Lorenz Surgical, a market leader in craniomaxillofacial fixation products, now known as Biomet Microfixation
1993
  • Introduction of Maxim® Total Knee System
  • Swedish Knee Registry reports AGC® knee has lowest revision rate of all knees in study
1994
  • Acquisition of Kirschner, which provided reconstructive and soft goods products and facilities in New Jersey and Spain
1995
  • 27% increase in international sales
  • Introduction of ArCom® Polyethylene
1996
  • Introduction of Mallory-Head® Modular Calcar Revision Series
  • Launch of EBI DynaFix External Fixation System
1997
  • 2,500 team members in 26 facilities worldwide
  • $580.3 million net sales
1998
  • Biomet Merck Joint Venture, which expanded Biomet’s European presence and provided global access to biomaterials technologies
  • Introduction of Ascent™ Total Knee System
1999
  • Biomet enters dental reconstructive market with acquisition of Implant Innovations, Inc. (3i), now known as Biomet 3i
  • Alliance with Selective Genetics to develop gene therapy products
  • $757.4 million net sales
2000
  • Introduction of M2a-Taper™ Acetabular Hip System
  • Stock splits 3 for 2
  • $920.6 million net sales with 4,000 team members worldwide
2001
  • Approximately 100 new products and line extensions introduced
  • $1 billion in net sales and over 270 million shares outstanding
  • 4,600 team members and over 1,500 sales representatives
2002
  • Approximately 80 new products introduced
  • Initiation of share repurchase program
  • $1.2 billion net sales
2003
  • Approximately 85 new products introduced, including Microplasty™ Minimally Invasive Instrumentation
  • $1.4 billion net sales
2004
  • Introduction of Vanguard™ Complete Knee System
  • $1.6 billion net sales
2005
  • Domestic introduction of The Oxford® Partial Knee
  • Over 500 products introduced over past six years
  • $1.9 billion net sales
2006
  • President and CEO Dane A. Miller, Ph.D. announces retirement; Dan Hann named as Interim CEO
  • Introduction of Vanguard™ SSK Revision System and launch of C2a-Taper™ Acetabular System
  • Over $2 billion net sales
  • 6300+ team members worldwide and 2,600 sales representatives
2007
  • Consortium of private equity firms purchases Biomet for $11.4 billion
  • The Oxford® Partial Knee captures 54% U.S. market share and becomes the most widely used partial knee in the world
  • Biomet achieves 52% market share in the U.S. metal-on-metal market
  • Launch of E-Poly™ HXLPE, Regenerex® Ringloc®+ Modular Acetabular System, NanoTite and Polaris™ 5.5

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