Yahoo Finance Dental Implant Maker ZimVie Weighs Potential Sale
(Bloomberg) -- Dental implants manufacturer ZimVie Inc. is weighing options including a sale after getting fresh takeover approaches, according to people with knowledge of the matter.
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The Palm Beach, Florida-based company is working with an adviser to explore alternatives after recently receiving interest from potential buyers including buyout firms and industry players, according to the people, who asked not to be identified as the information is confidential.
Shares in ZimVie were up 19% at 11:21 a.m. Tuesday in New York, putting the company on track for the biggest daily gain since December 2023 and giving it a market value of about $481 million.
ZimVie was spun off from Zimmer Biomet Holdings Inc. in 2022. It operates in the US, Switzerland and China and employs more than 1,800 people globally, its website shows.
The company completed a sale of its spine business to H.I.G. Capital for $375 million in April.
Deliberations are at an early stage and ZimVie could decide against proceeding with a deal, the people said. A representative for ZimVie declined to comment.
(Updates share move in third paragraph.)
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