ZimVie shares are trading higher after the company closed the sale of its Spine business to an affiliate of H.I.G. Capital for $375 million.
Portfolio Pulse from Benzinga Newsdesk
ZimVie's stock price increased following the completion of its Spine business sale to an H.I.G. Capital affiliate for $375 million.
April 01, 2024 | 6:53 pm
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ZimVie's shares are trading higher after successfully selling its Spine business to an H.I.G. Capital affiliate for $375 million.
The successful sale of ZimVie's Spine business for $375 million to an affiliate of H.I.G. Capital is a significant financial transaction that likely provides the company with a substantial cash influx. This event is perceived positively by the market, as it could enable ZimVie to reduce debt, invest in growth opportunities, or return value to shareholders, thus driving the stock price higher in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100