The 10-K states that new product introductions and commercial execution contributed positively to volume and mix trends, driving sales growth. The company is broadening its offerings and exploring new technologies, including AI and machine learning.

The company completed multiple acquisitions in 2023, including Embody, a medical device company focused on soft tissue healing. These acquisitions are intended to expand the company's product portfolio and technological capabilities.

Zimmer Biomet initiated the 2023 Restructuring Plan, intended to streamline the organization and reduce costs. This plan, along with previous restructuring plans, is expected to reduce gross annual pre-tax operating expenses and improve efficiency.

The 10-K filing mentions that improvements in the supply chain contributed to the net sales growth in 2023. This suggests effective management in addressing previous supply chain disruptions.

The resolution of the FDA warning letter related to the Warsaw North Campus facility indicates successful management action in addressing regulatory concerns and improving operational quality.

The appointment of Ivan Tornos as President and CEO in August 2023 signifies a completed leadership transition. New executive appointments in other key roles also suggest management is actively shaping the leadership team.

The 10-K highlights the highly competitive environment and the risk of products becoming obsolete due to technological advances. This competition could affect the company's ability to maintain or increase sales and could adversely affect the business and financial results.

The company acknowledges the ongoing risk of cybersecurity incidents and data breaches, which could disrupt operations, compromise confidential information, and harm the company's reputation. The company is dependent on sophisticated information technology.

The 10-K mentions the impact of political, social, and economic instability, trade restrictions, and conflicts on the company's ability to operate and collect receivables. These factors could disrupt the supply chain, increase costs, and affect the company's financial results.

The 10-K states that the orthopedics and broader musculoskeletal care industry is highly competitive. Major competitors include DePuy Synthes, Stryker, and Smith & Nephew.

The company's ability to develop new products and technologies and improve existing ones is a key factor for future success. Competition is primarily based on technology, innovation, quality, reputation, customer service, and pricing.

The 10-K mentions that many countries experience pricing pressure from local hospitals, health systems, and governmental healthcare cost containment efforts. This could have a material adverse effect on sales and results of operations.

The company has initiated a series of restructuring programs to reduce costs, improve efficiency, and prioritize investments in higher-priority growth operations. These programs involve complex plans and actions that may include workforce reductions, plant closures, and product portfolio rationalizations.

The manufacturing operations at the company's facilities are designed to incorporate the cellular concept for production and to implement tenets of a manufacturing philosophy focused on continuous improvement efforts in product quality, lead time reduction, and capacity optimization.

The company works closely with its suppliers to assure continuity of supply while maintaining high quality and reliability. They purchase raw materials and select components from external suppliers, some from single sources for reasons of quality assurance, sole source availability, cost effectiveness, or regulatory requirements.

The rapid commercialization of new data solutions, surgical techniques, innovative new materials, biologics products, and implant and instrument designs remains one of the company's core strategies and continues to be an important driver of sales growth.

The company is broadening its offerings in certain product categories and exploring new technologies, including artificial intelligence and machine learning, with possible applications in multiple areas.

The company markets a collective suite of products and technologies as the ZBEdge Platform, which connects robotic and digital technologies together to collect data before, during, and after surgery, that can deliver insights to surgeons to assist in making informed decisions on patient care.

The company continues to execute share repurchases to return cash to investors and to limit ownership dilution. As of December 31, 2023, $155.8 million remained authorized under the share repurchase program.

The company expects to continue paying cash dividends on a quarterly basis, but future dividends are subject to approval by the Board of Directors and may be adjusted as business needs or market conditions change.

The company issued senior notes for $499.8 million and used those proceeds to repay amounts outstanding under existing credit facilities and for general corporate purposes, such that they repaid a net $325.0 million on various revolving credit facilities and $120.2 million of other debt obligations.

The company is committed to creating, supporting, and celebrating diverse and equal workplaces and communities. They have established 2026 representation goals for women and POC at all levels of the organization.

The company conducts comprehensive employee engagement surveys to inform actions towards improving employee engagement. Surveys attempt to assess five drivers of engagement including purpose, culture, leadership, personal growth and belonging.

The company sponsors wellness programs designed to enhance physical, financial and mental wellbeing for employees. They are also intensely focused on the health and safety of team members in the workplace.

The 10-K notes that the company saw recovery of elective surgical procedures across most of its major markets, driving volume growth. This indicates a positive market environment for the company's products.

The company notes that the majority of countries in which they operate continue to experience pricing pressure from local hospitals, health systems, and governmental healthcare cost containment efforts.

Changes in foreign currency exchange rates had negative effects of 1.0 percent and 5.0 percent, respectively, on year-over-year sales in 2023 and 2022. This highlights the sensitivity of the company's financial performance to currency fluctuations.