ZimVie announces definitive agreement to sell spine business to HIG Capital

ZimVie has reached an agreement to sell its spine business to H.I.G. Capital for $375 million. After the transaction, ZimVie will receive $315 million in cash and a $60 million promissory note. They plan to use the proceeds to reduce debt and streamline operations. The sale is intended to create a leaner, more focused ZimVie with a leading position in global dental markets. The transaction is expected to close in the first half of 2024. H.I.G. Capital sees a tremendous opportunity to partner with the spine leadership team to support best-in-class innovation and robust commercial execution.

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