Shares of ZimVie Inc. (ZIMV) are rising more than 44% Monday morning after the medical device company announced the decision to sell its spine business to alternative investment firm H.I.G. Capital.
ZimVie said it plans to utilize the proceeds from the deal, which is expected to add to the company's revenue and earnings, to reduce debt.
"This transaction is intended to create a leaner, more focused ZimVie with a leading position in attractive and growing global dental markets," said Vafa Jamali, President and CEO.
ZIMV, currently at $16.21, has touched a new high of $16.60 this morning.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.