Zimmer Biomet has filed a Form 10 statement to move forward with ZimVie, its dental and spine business spinoff. The company first announced the spinoff in February of 2021.
Next month, ZimVie will host a virtual Investor Day on Monday, Feb. 7, 2022 from 11 a.m. to about 3p.m. E.T. The virtual event will feature presentations from ZimVie leaders outlining its Dental and Spine offerings, addressable market opportunity, financial outlook, business strategy, and the broader organizations supporting these businesses.
ZimVie is the result of the third phase of Zimmer Biomet’s transformation. Prior to the announced spin-off Zimmer Biomet struggled with quality control and supply chain problems for about a year at that point, and those challenges had created investor frustration that ultimately led to former CEO David Dvorak's resignation in July 2017.
Bryan Hanson took the helm in December of 2017 and in October 2018, he told investors that Zimmer Biomet would have to reduce the size of its portfolio in order to simplify the supply chain and improve service levels to customers.
Vfa Jamali, a former Medtronic executive will serve as CEO of ZimVie.