ZimVie rises on plans to sell bone business

Zimvie

18/12/2023 14:49

** Shares of medtech co ZimVie  ZIMV.O  rise 41.3% to an
over one-year high of $15.9
    ** Co says it will sell its spine business to investment
firm HIG Capital for $375 million
    ** After the sale, ZIMV will only sell dental products
    ** Co intends to utilize the after-tax proceeds to reduce
debt
    ** The transaction, approved by ZIMV’s board, is expected to
close in H1 2024
    ** Including session's move, stock up 52% YTD

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))