DJ Zimmer Biomet to Spin Off Spine, Dental Businesses
By Colin Kellaher
Zimmer Biomet Holdings Inc. on Friday said it plans to spin off its spine and dental businesses into an independent, publicly traded company.
The Warsaw, Ind., musculoskeletal health-care company said it plans to focus on high-growth segments within the orthopedics market, including knees, hips, sports medicine, extremities and trauma, and craniomaxillofacial and thoracic.
Zimmer said it expects the spinoff will create a stronger growth profile for each company while better aligning resources and processes more directly with their strategic priorities.
Zimmer said it aims to complete the spinoff of the spine and dental business, which had revenue of nearly $900 million last year, in mid-2022.
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(END) Dow Jones Newswires
February 05, 2021 06:51 ET (11:51 GMT)
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