The three-year-old spinout from Zimmer Biomet has reached the end of its road. ZimVie has agreed to be acquired by the investment firm ArchiMed, through a $730 million deal that aims to close before the end of the year.
ZimVie first launched in 2022 as a spinout of Zimmer Biomet’s spine and dental businesses—however the company would later sell off its portfolio of spinal implants and fixation systems to H.I.G. Capital for $375 million, which in turn formed the independent Highridge Medical. Earlier this year, Highridge Medical begat a new spinout through the sale of its bone healing division to Avista Healthcare Partners.
What remains for ArchiMed is ZimVie’s catalog of dental implants, biomaterial grafts and digital scanning hardware. The company posted $112 million in sales for the first quarter of this year—down 5.2% compared to the same period in 2024—and projected that revenue for the full year of 2025 would land between $445 million and $460 million, for either a drop of 1% or a gain of 2%.
The acquisition would see ZimVie holders receive $19.00 in cash per share as the company goes private, for a premium that nearly doubles the stock’s value over a 90-day weighted average. The announcement saw ZimVie’s shares jump about 122%, from about $8.44 to $18.76.
“We’re excited to partner with ZimVie and its talented team,” André-Michel Ballester, managing partner at ArchiMed, said in a statement. “The company has strong fundamentals and compelling growth potential, and we look forward to supporting its next chapter.”
The agreement allows ZimVie to keep its door open and shop for any better offers for the next 40 days, through the end of August. The company said it does not plan to make any more announcements unless a stronger proposal comes along.
In 2022, ArchiMed took Natus Medical private in a $1.1 billion deal, for a 29% premium. Founded in the late 1980s, and publicly traded since 2001, Natus markets a wide range of medical devices and software systems spanning neurological, newborn and hearing care.