Zimmer Biomet’s Rachel Ellingson on driving growth through portfolio shifts and M&A
In the inaugural episode of Ortho Innovation Talks: Zimmer Biomet, Rachel Ellingson, SVP and Chief Strategy Officer at Zimmer Biomet, shares insights into the company’s growth strategy, emphasizing that growth can be achieved not only through addition – like innovation and acquisition – but also through subtraction, such as exiting lower growth, non-core businesses.
In the episode, Ellingson discusses the decision to spin off Zimmer Biomet’s spine and dental businesses and the significant undertaking required to create a new public company, which required integrating and then disintegrating business segments, building corporate infrastructure, and establishing a dedicated leadership team for the new entity – a major initiative involving over 500 people and a dedicated separation management office.
Lastly, Ellingson discusses what’s next in Zimmer Biomet’s growth strategy, citing a balance between internal innovation and M&A and noting that the company plans to launch over 40 new products in the next 36 months, focusing on markets with at least 4% growth.
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