WARSAW, Ind., Nov. 6 /PRNewswire-FirstCall/ -- Zimmer Holdings, Inc. (NYSE: ZMH; SWX: ZMH) announced today that it has become the founding supporter of a new entity, created by the American Orthopaedic Association (AOA), to provide funding for post-graduate orthopaedic fellowships and residency programs, beginning in the 2009-2010 academic year. The new, independent entity, called OMeGA Medical Grants Association LLC (OMeGA), will receive and analyze funding requests before making grants to educational institutions or programs.
Zimmer will have no role in selecting the recipients of its funding, but it will be permitted to allocate its donation among one or more specialty or sub-specialty areas that the Company wishes to support. These funding areas may include Adult Reconstruction/Arthroplasty; Shoulder and Elbow; Spine; Trauma; Sports Orthopaedic Surgery; Pediatric Orthopaedics; Foot and Ankle; Orthopaedic Oncology; Hand and Upper Limb Surgery; and Residency/Educational Resources.
"We are proud to collaborate with the AOA to create a vehicle that will allow us to maintain our long-standing, substantial support for post-graduate medical education while establishing safeguards to assure the confidence and trust of all stakeholders," said David Dvorak, Zimmer Holdings President and Chief Executive Officer. "As public and non-corporate private funding for fellowships has declined, we believe it is vital to patients that industry be able to continue to advance the medical profession. We join with the AOA in seeking to foster the development of the next generation of physicians who will conceive of new ways to improve patient outcomes."
"We are pleased to provide a new model to administer funding for post- graduate education to ensure the continuation of quality education, research and sub-specialty clinical skills development. OMeGA will operate as a fair, independent and fully transparent entity in efforts to continue the advancement of orthopaedic care," said Louis Bigliani, MD, President of the AOA. "Zimmer's common commitment to transparency and independence is the perfect fit for OMeGA. As the first company to embrace this new approach, Zimmer has been designated as the Founding Supporter of OMeGA and their generous donation has placed them as a Platinum Supporter, the highest level of recognition given to OMeGA donors based on funding levels," said Dr. Bigliani.
The Board of Directors of OMeGA will be selected using criteria that require individuals to meet rigorous standards of independence; only those who have no current ties to the orthopaedic industry and who have received no remuneration from the orthopaedic industry in the past two years will be eligible to serve as Directors. The Board of Directors will establish review panels composed of individuals who are qualified by their education and experience to evaluate education programs in various sub-specialties and who satisfy OMeGA's conflict of interest standards. These independent review panels will be responsible for applying objective criteria to consider grant applications, subject to continued oversight by the Board of Directors.
Founded in 1927 and headquartered in Warsaw, Indiana, Zimmer designs, develops, manufactures and markets orthopaedic reconstructive, spinal and trauma devices, dental implants, and related surgical products. Zimmer has operations in more than 25 countries around the world and sells products in more than 100 countries. Zimmer's 2007 sales were approximately $3.9 billion. The Company is supported by the efforts of approximately 8,500 employees worldwide.
For more information about Zimmer, visit http://www.zimmer.com
About the AOA
The American Orthopaedic Association, founded in 1887, is the oldest national orthopaedic association in the world. The AOA's mission is to identify, develop, engage and recognize leadership to further the art and science of orthopaedics. For more information, visit http://www.aoassn.org or call 847.318.7350.
|SOURCE Zimmer Holdings, Inc.|
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