ZimVie Inc (ZIMV) has shared an announcement.
ZimVie Inc. has successfully completed a major transaction involving the sale of its spine business, with the final equity interests in the transferred entities acquired for a total gross purchase price of $375 million. This sum includes $315 million in cash and a $60 million subordinated promissory note with a 10% annual interest rate, maturing in five and a half years or upon certain events. This strategic move was announced in a press release and further detailed in an investor presentation, signifying a significant step in ZimVie’s business strategy and offering potential operational and financial benefits.
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