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Distinguished Speaker Series continues
Biomet founder to speak
Word Count: 462
Estimated Reading Time: 3.5 minutes
ANGOLA, Ind. – Trine University’s Distinguished Speaker Series will continue when Dane Miller, Ph.D., presents The Life & Times of Biomet. His free presentation was scheduled for Feb. 15, but is being rescheduled for a later date.
A Bellefontaine, Ohio, native, Miller received his bachelor’s degree in mechanical/materials science engineering from General Motors Institute in 1969. By 1974 he earned a master’s degree and doctorate in Materials Science/Biomedical Engineering from the University of Cincinnati.
In a “Business UNusual” article that appeared in the Dec. 16, 2011, edition of Fort Wayne Business Weekly, Miller said he was not interested in business as a child. The story noted that his career path began to change when he was employed at Zimmer (then a division of Bristol-Myers Squibb) from 1972-75 as the director of development engineering and director of surgical product development.
“I got a monthly grade card, which was my P&L (profit and loss) report from the accounting department, and the business grew very nicely, and only in hindsight did I look back and realize that was a turning point in my life,” Miller told Fort Wayne Business Weekly. “I found I really enjoyed business and the P&L responsibility that I had there. I seemed to be reasonably successful at it.”
In 1978 Miller and three other people formed Biomet Inc., an orthopedic manufacturing company. Their goal was for Biomet to become the most responsive company in orthopedics while simultaneously providing patients with the highest quality and most clinically proven products in the marketplace.
With Miller at the helm, Biomet grew from $17,000 in sales its first year into one of the leading musculoskeletal companies in the world, with annual sales exceeding $2.7 billion. In the first year, Biomet employed eight people. Today, the company employs more than 10,000 globally. Miller served as president and chief executive officer until 2006, when he retired. He now serves on the board of directors.
Miller has received numerous awards and accolades through the years. In 1984, he was named the state’s outstanding small business person. He was named Business Leader of the Year by the Indiana Chamber of Commerce in 1992. He received the Director’s Special Citation from the Food and Drug Administration in 1997. He was elected to the National Academy of Engineering in 2000. Forbes Magazines named him as one of Top 10 Chief Executive Officers in the United States in 2003.
In April 2007, USA Today identified Biomet as one of the 25 most top performing stocks, beating Microsoft, Best Buy and Oracle. In 2001, Forbes.com reported its findings from its First Annual CEO Value Survey. It looked at 278 Forbes 500 CEOs. The No. 1 ranking went to Warren Buffett with Berkshire Hathaway. Miller came in at No. 4.
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