ROSEMONT, Ill. and WARSAW, Ind., Sept. 22, 2016 /PRNewswire/ -- Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH), a global leader in musculoskeletal healthcare, today pledged to donate up to $100,000 in matching funds to the Orthopaedic Research and Education Foundation (OREF). According to the agreement, Zimmer Biomet will help underwrite OREF's grant administration costs by donating 10 cents for every dollar given to OREF by individual donors.
Since 2010, Zimmer Biomet has donated more than $6 million toward advancing OREF's mission by funding programs, awards and grants including OREF's Career Development Award, Clinician Development Program, Young Investigator Grants, New Investigator Grants, Resident Research Symposia and Collaborative Research Agenda in Hip/Knee and Trauma.
"Zimmer Biomet and the Orthopaedic Research and Education Foundation share a commitment to advancing the treatment of musculoskeletal disorders and injuries, and we're pleased this funding will help to defray administration costs and enable the Foundation to invest more financial resources toward its research grants," said David C. Dvorak, President and CEO of Zimmer Biomet.
The partnership between Zimmer Biomet and OREF will increase the dollars that are available to orthopaedic investigators through OREF's grant programs and will encourage other donors to support OREF's mission. Richard F. Santore, MD, OREF Trustee and Chair of the Individual Development Committee, stated, "this support from Zimmer Biomet for peer reviewed research sends an incredibly positive message to current and prospective OREF donors about the value of the work OREF is doing. It allows OREF to keep administrative overhead for grants extremely low."
According to the U.S. Bone and Joint Initiative, musculoskeletal disorders are the most common causes of long-term pain and disability worldwide, and account for half of all chronic conditions in the elderly. "OREF and Zimmer Biomet share a long history of supporting the best orthopaedic research. This exciting new chapter in our relationship demonstrates Zimmer Biomet's ongoing commitment to both OREF and the orthopaedic community," said David G. Lewallen, MD, President of the OREF Board of Trustees.
About Zimmer Biomet
Founded in 1927 and headquartered in Warsaw, Indiana, Zimmer Biomet is a global leader in musculoskeletal healthcare. We design, manufacture and market orthopaedic reconstructive products; sports medicine, biologics, extremities and trauma products; office based technologies; spine, craniomaxillofacial and thoracic products; dental implants; and related surgical products.
We collaborate with healthcare professionals around the globe to advance the pace of innovation. Our products and solutions help treat patients suffering from disorders of, or injuries to, bones, joints or supporting soft tissues. Together with healthcare professionals, we help millions of people live better lives.
We have operations in more than 25 countries around the world and sell products in more than 100 countries. For more information, visit www.zimmerbiomet.com or follow Zimmer Biomet on Twitter at www.twitter.com/zimmerbiomet.
About the Orthopaedic Research and Education Foundation
The Orthopaedic Research and Education Foundation is a charitable 501(c)(3) organization committed to improving lives by supporting excellence in orthopaedic research. OREF is dedicated to supporting new investigators and is the premiere orthopaedic organization funding research across all specialties. A list of research and funding priorities is available at oref.org/grants or follow @oreftoday on Twitter.
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SOURCE Zimmer Biomet Holdings, Inc.