ZimVie goes all-in on dental

ZimVie is selling its spine business to solely focus on dental supplies.

The company entered an agreement to sell its spine business to H.I.G. Capital, an alternative investment firm, for $375 million. Proceeds from the sale will go toward reducing the company's debt and supporting growth in the dental field, according to a Dec. 18 news release.

Zimmer Biomet announced its plans to create a dental and spine spinoff company in February 2021. The spinoff was completed in March 2022.

The transaction is expected to close during the first half of 2024.

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