According to sources familiar with the matter, ZimVie Inc., a dental implants manufacturer based in Palm Beach, Florida, is exploring options that include a possible sale. Recent takeover approaches have prompted the company to engage with advisors to evaluate its alternatives. The interested parties reportedly include private equity firms and other companies within the industry.
As of 11:21 a.m. Tuesday in New York, ZimVie’s shares surged by 19%, marking its largest daily increase since December 2023 and valuing the company at approximately $481 million.
Established in 2022 after its spin-off from Zimmer Biomet Holdings Inc., ZimVie operates in the United States, Switzerland, and China, employing over 1,800 individuals worldwide, as stated on its website. Earlier in April, the company finalized the sale of its spine business to H.I.G. Capital for $375 million.
Sources caution that discussions are in preliminary stages, and ZimVie may opt not to pursue a transaction. A spokesperson for ZimVie declined to provide any comments on the matter.