Fierce Biotech December 18, 2023
Less than two years after Zimmer Biomet spun out its spine and dental businesses into a separate, standalone company, the resulting entity, ZimVie, is already undergoing another transformation.
It’s now planning to splice off the spine business, leaving behind only the dental segments under the ZimVie name. According to an announcement Monday, Miami-based private equity firm H.I.G. Capital has agreed to take on the spine business.
When the deal is sealed, H.I.G. will hand over $315 million in cash to ZimVie, plus a promissory note worth $60 million that’ll accrue interest at a yearly rate of 10%—for a total deal value of $375 million.
“The ZimVie spine business has a solid foundation with a market-leading product portfolio, strong surgeon satisfaction...
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