ZimVie Inc.: restructuring charge — ZimVie expects $250M-$310M non-cash impairment in Q4 from Spine sale

ZimVie Inc.

Non-cash impairment charge of $250M to $310M in Q4 2023.
Charge due to Spine business assets classified as held for sale under sale agreement with H.I.G. Capital.
Agreement entered December 15, 2023; no material cash expenditures expected from impairment.
Impairment follows previously announced definitive agreement to sell Spine business.

item 2.06

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

ZimVie Inc. announced a impairment with charges of $250 to $310 million affecting Spine business.

Type: impairment
Charge: $250 to $310 million
Affected area: Spine business

Exact text from the filing

ZimVie anticipates a non-cash impairment charge of $250 to $310 million to be taken in the fourth quarter of 2023 related to this event, as the assets associated with this business will be classified as held for sale at year-end.

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Source: SEC EDGAR

accession 0000950170-23-072223

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