Zimmer Holdings Announces OMeGA Graduate Medical Education Grant Recipients
(WARSAW, IN) October 4, 2010 -- Zimmer Holdings, Inc. (NYSE and SIX: ZMH) today announced that OMeGA Medical Grants Association (OMeGA), an independent, 501(c)(3) not-for-profit corporation has chosen its 2010 grant recipients. OMeGA is the third-party administrator for orthopaedic graduate medical education grants to which Zimmer committed $2 million in funding for orthopaedic graduate medical education for the 2009 2010 academic year and $2.175 million for the 2010-2011 academic year.
For the 2010-2011 academic year, OMeGA received 218 applications for its fellowship and residency grants and will fund 48 fellowship grants up to $75,000 each, representing 30 percent of fellowship programs requesting grants through OMeGA. Fellowship grants were allocated in all sub-specialty categories: Adult Reconstruction; Foot and Ankle; Hand Surgery; Oncology; Pediatrics; Shoulder and Elbow; Spine; Sports Medicine; and Trauma. In an effort to further facilitate the education of orthopaedic fellows, OMeGA will be accelerating its review and notification process for the next two grant cycles, assuring that programs will receive notice at least one year in advance to align with sub-specialty match timelines.
OMeGA will fund 22 residency programs up to $5,000 each at both academic institutions and community hospitals. In addition, OMeGA introduced a new grant category in September 2010 to encourage orthopaedic innovation in general education. The focus was on the six ACGME core competencies, and grants between $10,000 and $20,000 will be awarded. More information is available at www.omegamedicalgrants.org.
"Zimmer is committed to supporting excellence in orthopaedic education," said David Dvorak, President and Chief Executive Officer of Zimmer Holdings. "Through our continued support of OMeGA we assist aspiring surgeons in their research and academic pursuits."
Grant recipients and allocations are determined by independent OMeGA board and review committees composed of sub-specialty experts. These orthopaedic surgeons evaluate education programs based on objective criteria including the goals and objectives of a program, accreditation status, ratio of faculty to fellows, quality of resources and facilities and recent published papers by fellows.
In November 2008, Zimmer became the founding supporter of OMeGA, an independent organization created by the American Orthopaedic Association (AOA). The OMeGA board and review committee members are free from conflicts of interest: they do not have financial interest in any orthopaedic medical device manufacturer (for the previous two years) nor leadership roles (i.e. financial decision-making) in orthopaedic fellowship or residency programs and educational institutions.
"OMeGA is the only completely independent organization allocating grants in the orthopaedic community," said C. McCollister Evarts, M.D., President of OMeGA Medical Grants Association. "Zimmer's support has been instrumental to OMeGA and we thank them for again providing generous funds to further orthopaedic graduate medical education."
The next grant application cycle commences on October 20, 2010. More information on available grants and OMeGA’s selection process is available at www.omegamedicalgrants.org.
About the Company
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 2009 sales were approximately $4.1 billion. The Company is supported by the efforts of more than 8,000 employees worldwide.
About OMeGA Medical Grants Association
OMeGA Medical Grants Association is an independent, not-for-profit organization established in 2008. OMeGA awards and manages grants for orthopaedic graduate medical education (GME) through a consistent, accessible process designed to safeguard against potential conflicts of interest and ensure transparency in the allocation of resources. Visit www.omegamedicalgrants.org or e-mail firstname.lastname@example.org for more information.
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Garry R. Clark
James T. Crines