MedTech Dive December 18, 2023
The sale to H.I.G. Capital will leave Zimvie focused on its dental business and help reduce its debt.
Dive Brief:
- Zimvie announced plans on Monday to sell its spine business to Miami-based investment firm H.I.G. Capital, narrowing the company’s focus to its dental business.
- H.I.G. will pay $315 million in cash and a $60 million promissory note that will accrue interest at a rate of 10% per year, for a total consideration of $375 million.
- The sale is “a step in the right direction for ZimVie as it allows it to double down on what we view as the more attractive of its two end markets while also significantly improving its financial position,” J.P. Morgan analyst Robbie...
Today's Sponsors
Today's Sponsor