ARCHIMED to acquire life sciences company ZimVie for $730m

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for each outstanding share when the transaction is finalised.The price per share signifies a premium of 99% to ZimVie's 90-day volume-weighted average share price, which stands at $9.57.ZimVie’s Board of Directors granted unanimous approval for the transaction, anticipated to be finalised by the end of this year.This is contingent on standard closing conditions, including ZimVie's stockholders' and regulatory bodies' approval. Notably, the agreement is not dependent on financing.ARCHIMED managing partner André-Michel Ballester said: “We’re excited to partner with ZimVie and its talented team. The company has strong fundamentals and compelling growth potential, and we look forward to supporting its next chapter.”Following the acquisition, ZimVie is set to become a private entity. Additionally, ZimVie, with Centerview Partners' assistance, may seek alternative proposals for a 40-day period ending on 29 August 2025, although there is no certainty of a superior offer emerging.ZimVie CEO and board chairman Vafa Jamali said: “This transaction marks a new chapter for ZimVie and underscores the value our team has built over the past several years.“Partnering with ARCHIMED will create value for our shareholders while providing the strategic and financial backing to expand our innovative dental technology to more patients globally.”Centerview Partners is acting as ZimVie's exclusive financial adviser, with Cravath, Swaine & Moore as its legal adviser.Meanwhile, UBS Investment Bank and Latham & Watkins are serving as ARCHIMED’s financial and legal advisers, respectively.In 2023, the US Food and Drug Administration (FDA) cleared ZimVie’s spinal fixation system, Vital, for use with Brainlab’s surgical imaging, planning, and navigation tools."ARCHIMED to acquire life sciences company ZimVie for $730m" was originally created and published by Medical Device Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. 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