ZimVie has closed on the sale of its spine business to global investment firm H.I.G. Capital. The spine business will now operate as Highridge Medical, based in Westminster, Colo.
ZimVie announced intentions to sell its spine business for $375 million in December, turning its focus to the dental industry.
The spine business' inaugural board of directors will consist of members that include former executives at Stryker, Medtronic and other industry leaders, according to an April 1 news release shared with Becker's.
Eric Major, former president of Stryker Spine and founder of K2M, will serve as executive chairman of the board.
Chris O'Connell, former executive vice president and group president at Medtronic, will serve as a board member. Glen Kashuba, former division president at Johnson & Johnson and Zimmer Biomet, will serve as CEO.
Former Zimmer Biomet leader Rebecca Whitney will serve as president of global spine and financial professional Vinny Binetti will serve as EBI general manager.