ZimVie posted spine sales decreases in the fourth quarter and full year ahead of its planned sale of the business segment.
In December, ZimVie announced its plans to sell its spine business to HIG Capital for $375 million. Now, the deal has been secured, and ZimVie is poised to be an exclusive dental implant company, according to a Feb. 28 news release. The sale is expected to be completed in the first half of 2024.
During the fourth quarter, ZimVie saw net sales of $113.1 million in the dental segment and $100.5 million in the spine segment — year-over-year decreases of 2.4% and 10.6%, respectively. Full year spine sales fell 9% year over year with $409.2 million, and full year dental sales fell 0.5% with $457.2 million.