ZimVie Exploring Buyout Options for Dental Company

Bloomberg reports that ZimVie is now thinking about selling off all of its dentistry businesses after moving out its spine division during this year.

The company, which was founded in March 2022 as a spinout from Zimmer Biomet, has engaged advisors for the preliminary phases of its planning after buyout companies and other industry contenders expressed interest in a potential purchase agreement.

ZimVie sold its spine division to investment company H.I.G. Capital for $375 million in April. The ensuing independent business was called Highridge Medical and was headquartered in Colorado.

ZimVie, on the other hand, moved its head office to Palm Beach Gardens, Florida, bringing with it its collection of electronic services for dental professionals, biomaterial grafts, and denture implants, which the firm estimates will generate approximately $450 million to $460 million in revenue annually by 2024.

ZimVie’s shares surged by almost 20% after Bloomberg’s news this week, and it is presently trading at nearly $18 per share.