The spinoff company of Zimmer Biomet's spine and dental business, dubbed "NewCo," is expected to accelerate growth and financial opportunities for the two companies and its stockholders.
Four things to know:
1. Warsaw, Ind.-based Zimmer Biomet said it would spin off the two businesses in a new company in February 2021, adding that it expects to complete the separation in mid-2022.
2. Zimmer Biomet said the new company is intended to provide its stakeholders with equity ownership in two publicly traded companies focused on their respective businesses.
3. The company said the separation will create a stronger growth profile for each company with enhanced management, better aligned resources and more strategic priorities.
4. The deal is expected to give the two separated companies greater flexibility to pursue growth opportunities.