WARSAW, Ind., Nov. 22, 2016 /PRNewswire/ -- Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH), a global leader in musculoskeletal healthcare, today announced that the Company has been chosen as an Indo UK Institutes of Health (IUIH) preferred orthopaedic partner to improve the delivery of and access to quality, affordable musculoskeletal healthcare for approximately 400 million people in India over the next 20 years through IUIH's 11 centers of excellence ("Medicities") to be created in major states across the country. IUIH Medicities will offer patients throughout India and abroad access to world-class services and clinical expertise in a modern, technology-led hospital. In addition, each Medicity will establish a medical college, nursing college, post-graduate training center, global standard research and development center and medical manufacturing facilities. The partnership was announced by the IUIH Medicities Program at the India-UK Technology Summit inaugurated by the Prime Minister of India, Narendra Modi, and the Prime Minister of the UK, Theresa May. The UK Secretary of State for International Trade, Dr. Liam Fox, chaired the roundtable that announced the partnership.
"At its one-year anniversary, the IUIH Medicities Program is delighted to announce Zimmer Biomet as a preferred orthopaedic partner for the next two decades," said Ajay Rajan Gupta, M.D., Group Chief Executive Officer of IUIH. "IUIH shares Zimmer Biomet's commitment to improve the quality of life for patients around the world. This partnership demonstrates a significant step toward achieving our vision to transform the delivery of quality healthcare and medical education services across India."
The newly created partnership between IUIH and Zimmer Biomet delivers value throughout the orthopaedic care continuum. Total Zimmer Biomet commitments to the program include an equity investment in UK Global Healthcare Limited (UKGH), the parent organization for IUIH; the supply and distribution of quality large joint implants, trauma products and small fixation devices for replacement surgery; the implementation of the Rapid Recovery and Theatre Care Rapide programs to optimize patient-focused processes and protocols in the hospitals and operating rooms across the 11 Medicities; and the establishment of the Zimmer Biomet Institute of India, a state-of-the-art medical training and education facility. In addition to the opportunity to improve patient outcomes, the efficiencies created through the long-term partnership are expected to significantly contribute to the delivery of affordable care in India by reducing the total cost of orthopaedic care by approximately 25 percent.
"Zimmer Biomet is proud to be chosen as a preferred orthopaedic partner for the IUIH Medicities program," said David Dvorak, President and CEO of Zimmer Biomet. "This long-term commitment demonstrates an unprecedented level of partnership between a forward-looking healthcare provider and a leading musculoskeletal healthcare company, putting transformational patient care and exponential value creation within reach."
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.
On November 12, 2015, the Indian and British Prime Ministers signed a historic Health Collaboration Agreement for the establishment of the Indo UK Institutes of Health (IUIH). The IUIH is a Private Public Partnership (Indo UK partnership) that is linked to the Indian Government's Smart Cities programme and aims to build 11 IUIH "Medicities" along with 89 Indo UK Clinics (IUCs).
The IUIH facilities' global operations and research expertise will be supported by collaboration with the UK National Health Service (NHS) and partnerships with leading international healthcare industry companies and international partners in research, education, manufacturing and healthcare delivery.
The vision is to develop fully integrated healthcare that is Affordable, Available and Accountable.
This news release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements concerning Zimmer Biomet's expectations, plans, prospects, and product and service offerings, including new product launches and potential clinical successes. Such statements are based upon the current beliefs and expectations of management and are subject to significant risks and uncertainties that could cause actual outcomes and results to differ materially. For a list and description of some of such risks and uncertainties, see our periodic reports filed with the SEC. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in Zimmer Biomet's filings with the SEC. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be set forth in our periodic reports. Accordingly, such forward-looking statements speak only as of the date made. Readers of this news release are cautioned not to place undue reliance on these forward-looking statements, since, while management believes the assumptions on which the forward-looking statements are based are reasonable, there can be no assurance that these forward-looking statements will prove to be accurate. This cautionary statement is applicable to all forward-looking statements contained in this news release.