Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, February 17, 2023

Article Excerpt

ZIMMER BIOMET HOLDINGS INC., $125.97, symbol ZBH on New York, manufactures orthopedic reconstructive implants and surgical equipment for orthopedic surgeries. Zimmer has the largest market share for reconstructive implants in the U.S. In March 2022, the company spun off its Spine and Dental businesses as ZimVie Inc. (symbol ZIMV on Nasdaq). The move let Zimmer focus on its Hips and Knees segment. Zimmer handed out 80.3% of ZimVie’s shares to its shareholders. They received one share of ZimVie for every 10 held in the parent. Zimmer plans to sell the remaining 19.7% interest. ZimVie generated $681.3 million in sales in the nine months ended September 30, 2022. It’s the fifth-largest company in the global spine implant market and the sixth-largest in dental. ZimVie’s dental business accounted for 51% of its revenue. This includes a variety of implants, impression systems and digital tools. The spine unit accounted for the remaining 49% of sales. This includes devices and technologies like the Mobi-C artificial cervical discs and…