Welcome to our dedicated page for ZimVie news (Ticker: ZIMV), a resource for investors and traders seeking the latest updates and insights on ZimVie stock.
ZimVie Inc. (Nasdaq: ZIMV) is a leading global life sciences company specializing in the dental and spine markets. Formed in March 2022 as an independent spin-off from Zimmer Biomet, ZimVie focuses on developing, manufacturing, and delivering a diverse portfolio of innovative products designed to treat a wide range of spine pathologies and support dental tooth replacement and restoration procedures.
Company Segments:
- Spine Products Segment: ZimVie offers an array of spine solutions, including implants, surgical tools, and bone graft substitutes. Significant advancements include the launch of the 4.5mm Mobi-C Cervical Disc, which provides pain relief and motion preservation for cervical disc degeneration.
- Dental Products Segment: The company delivers comprehensive dental solutions, including implants and digital care management systems. ZimVie is committed to driving peri-implant health and immediacy through its innovative dental product lines.
Recent Achievements:
- In October 2023, ZimVie celebrated the first U.S. implantation of its 4.5mm Mobi-C implant.
- In December 2023, the company received FDA clearance for its Vital™ Spinal Fixation System, designed for use with Brainlab Spine & Trauma Navigation.
Current Projects:
- ZimVie is actively co-marketing Brainlab Spine & Trauma Navigation alongside its Vital and Virage product lines, with plans to expand further in 2024.
- The company is also focused on the strategic sale of its spine business to H.I.G. Capital, expected to close in the first half of 2024. This move aims to streamline operations and sharpen focus on the dental sector.
Financial Health:
ZimVie continues to navigate its financial landscape with strategic initiatives like debt reduction and reallocation of resources to higher-growth dental markets. The company has paid down significant debt while maintaining a robust portfolio of products supported by extensive clinical evidence.
Partnerships:
ZimVie collaborates with leading organizations like Brainlab to enhance its product offerings, ensuring cutting-edge solutions in spine and dental care. These partnerships enable ZimVie to remain at the forefront of technological advancements in the medical device industry.
Rhea-AI Summary
ZimVie Inc. completes the sale of its Spine business to H.I.G. Capital for $375 million, establishing a pure-play dental business. The deal includes $315 million in cash and a $60 million promissory note. The company aims for a $455+ million Net Sales and a 15%+ adjusted EBITDA margin one year post-deal closure.
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H.I.G. Capital announces the acquisition of ZimVie Inc.'s Spine division, now operating as Highridge Medical. Highridge is a leader in the global spinal device market, with a strong bone healing therapies portfolio. The Company will be led by experienced industry executives and aims to enhance spine care through R&D and innovation.
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ZimVie Inc. will participate in the 23rd Annual Needham Virtual Healthcare Conference on April 10th, 2024. The company is a global leader in dental and spine markets, offering a live webcast of the event on their website for investors.
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ZimVie Inc. reports FY 2023 Third Party Net Sales of $457.2 million from Continuing Operations and $409.2 million from Discontinued Operations. The company plans to complete the sale of its Spine Business for $375M in 1H 2024, focusing on becoming a pure play dental company.
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ZimVie Inc. (Nasdaq: ZIMV) will release financial results for Q4 and full-year 2023 on February 28, 2024. A conference call will follow at 4:30 p.m. Eastern Time. Interested parties can register online. Webcast replay available at investor.zimvie.com.
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ZimVie Inc. (Nasdaq: ZIMV) announces the launch of the TSX Implant in Japan, designed for immediate extraction and standard loading protocols. The implant aims to deliver peri-implant health, crestal bone maintenance, long-term osseointegration, and prosthetic stability. Integrated with ZimVie’s end-to-end digital workflows, the TSX Implant furthers ZimVie’s commitment to simplify procedures and optimize practice protocols. The company aims to solidify its position as the market leader in Japan with this launch.
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ZimVie Inc. (Nasdaq: ZIMV) has entered into a definitive agreement to sell its spine business to H.I.G. Capital for $375 million, with $315 million in cash and $60 million in the form of a promissory note. The net proceeds will be used to pay down debt and support dental growth initiatives, allowing the company to streamline operations and focus as a pure-play dental company. The deal is expected to be accretive to ZimVie’s revenue growth rate, EBITDA margin, and cash flow conversion rate.
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ZimVie Inc. (Nasdaq: ZIMV) has received FDA clearance for its Vital™ Spinal Fixation System, a result of the Development Cooperation Agreement with Brainlab Spine & Trauma Navigation. The company plans to co-market Brainlab Spine & Trauma Navigation alongside its Vital and Virage lines, with first Vital sets expected to be launched in the United States in early 2024. ZimVie also plans to submit a 510(k) application to the FDA for Virage next year.
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ZimVie Inc. reported financial results for Q3 2023, with third party net sales of $202.9 million, a net loss of ($5.1) million, and adjusted net income of $2.2 million. Diluted EPS was ($0.19), while adjusted diluted EPS was $0.08. The company's adjusted EBITDA was $25.8 million, with an adjusted EBITDA margin of 12.7%. ZimVie ended the quarter with a cash balance of $75.4 million.
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ZimVie Inc. announced the first patient in the United States has received the newly approved 4.5mm Mobi-C Cervical Disc. The smaller implants were approved by the FDA in August 2023. The first implantation was performed by Dr. Gregory D. Lopez in Chicago. ZimVie is dedicated to bringing the right products to the market.
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FAQ
What is the current stock price of ZimVie (ZIMV)?
The current stock price of ZimVie (ZIMV) is $14.57 as of November 5, 2024.
What is the market cap of ZimVie (ZIMV)?
The market cap of ZimVie (ZIMV) is approximately 400.5M.
What does ZimVie Inc. specialize in?
ZimVie Inc. specializes in the dental and spine markets, offering products such as implants, bone graft substitutes, and digital care management solutions.
When was ZimVie founded?
ZimVie was founded in March 2022 as an independent spin-off from Zimmer Biomet.
What are the two main operating segments of ZimVie?
ZimVie's business is organized into two segments: the spine products segment and the dental products segment.
What is the Mobi-C Cervical Disc?
The Mobi-C Cervical Disc is a cobalt chromium alloy and polyethylene mobile-bearing prosthesis used for cervical disc reconstruction, approved by the FDA for reconstruction at both one and two levels (C3-C7).
What recent FDA clearance did ZimVie receive?
In December 2023, ZimVie received FDA clearance for its Vital™ Spinal Fixation System, designed for use with Brainlab Spine & Trauma Navigation.
Who is ZimVie selling its spine business to?
ZimVie has entered into a definitive agreement to sell its spine business to H.I.G. Capital, a leading global alternative investment firm.
How does ZimVie plan to use the proceeds from the spine business sale?
ZimVie intends to use the after-tax proceeds to reduce debt and focus on growing its dental business.
What are some of ZimVie's partnerships?
ZimVie collaborates with organizations like Brainlab to enhance its product offerings, particularly in spine and dental care.
Where is ZimVie headquartered?
ZimVie is headquartered in Westminster, Colorado, with additional facilities worldwide.
What markets does ZimVie serve?
ZimVie serves customers in over 70 countries worldwide, providing a comprehensive portfolio of dental and spine solutions.
ZimVie Inc.
Nasdaq:ZIMV
ZIMV Rankings
ZIMV Stock Data
400.46M
27.60M
1.93%
93.05%
1.59%
Medical Devices
Dental Equipment & Supplies
United States of America
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