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Zimvie Considers Sale After Hearing Takeover Proposals

27th June 2024

After hearing takeover proposals, Zimvie is thinking about selling as well as other possibilities.

In 2022, Zimvie, a firm that specialised in dental and spine equipment, split out from its parent business, Zimmer Biomet. Zimvie planned to offer H.I.G. Capital its spine company for $375 million in December 2023. The leadership team presented the transaction as a means of resolving two significant issues that investors had raised: the business’s high debt load and the absence of cohesion among spine and dentistry.

There are allegedly purchasers interested in the more concentrated and streamlined dentistry company that resulted from the spine split. According to experts close to Bloomberg, negotiations are still in their early stages, and Zimvie may decide not to make a deal.

Following the revelation, Zimvie’s shares surged by about 23% to surpass $18, resulting in a roughly $490 million market value.

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