US-based dental devices provider ZimVie has agreed to be acquired by French private equity firm ARCHIMED for $19 per share in cash, which values ZimVie at about $730m.
The deal, which represents a 99% premium over ZimVie’s 90-day volume-weighted average price of $9.57 per share, will see ZimVie become a privately held company.
The board of directors of ZimVie has unanimously approved the transaction, which is anticipated to close by the end of 2025.
Its closing is contingent on customary closing conditions, including approval by ZimVie’s stockholders and regulatory approvals.
The transaction does not depend on financing conditions, and ZimVie will continue to operate independently until the deal is finalised.
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.”
“We’re excited to partner with ZimVie and its talented team,” said André-Michel Ballester, Managing Partner, at ARCHIMED. “The company has strong fundamentals and compelling growth potential, and we look forward to supporting its next chapter.”
Based in Palm Beach Gardens, Florida, ZimVie is focused on the dental implant market.
The company develops and manufactures a wide range of dental products designed to support tooth replacement and restoration procedures.
As per the agreement, ZimVie, with the help of its financial advisor Centerview Partners, may solicit alternative proposals from third parties for 40 days, ending on 29 August 2025.
ZimVie has stated it will not disclose developments in this process unless a superior proposal is presented and accepted by its Board of Directors.
Centerview Partners served as the exclusive financial advisor, and Cravath, Swaine & Moore served as legal advisor to ZimVie on this transaction.
UBS Investment Bank and Latham & Watkins served as financial and legal advisors to ARCHIMED.
