Continuously serving Kosciusko County since 1854
Ray Elliott held an imaginary surgical rod in his right hand Wednesday during an informal presentation to invited guests at the Zimmer Distribution Center on West Center Street in Warsaw.
The occasion was organized to celebrate Zimmer's independent status as a public company and it was held in the company's two-story, 14,000-square-foot trade show exhibit.
Elliott, 51, Zimmer chairman and CEO, gave a brief outline of Zimmer's present bearings and future plans and goals.
Among these goals are the hopes that Zimmer employees buy shares in the company, effectively making them part owners.
"On August 6 they were making surgical rods for Bristol-Myers Squibb," he said indicating the imaginary tool. "The next day they were working for themselves."
Because of BMS' intentions, Zimmer focused on hip and knee reconstructive implants and fracture management products.
Elliott described the spin-off from BMS as painless.
"They were very, very honorable," he said, "and left us with little debt."
He indicated the company plans to broaden its base to include pain and blood management, biologicals, devices for spine repair and joints damaged by arthritis.
The CEO predicted that the company's best times have just begun.
"With projections that there will be 40 million people over the age of 65 by 2010, our best time may be starting just now."
Zimmer was founded in 1927 in Warsaw and has more than 3,200 employees worldwide. In 2000 Zimmer recorded worldwide revenues of more than $1 billion.
Elliott recently returned from a tour of seven countries giving more than 90 presentations before potential investors.
Zimmer management expects revenue growth to be eight to 11 percent through 2002.
Employee celebrations are planned today in Central Park.
