ZimVie sales drop in first year after spin off
WESTMINSTER — ZimVie Inc. (Nasdaq: ZIMV), a medical technology company that manufactures devices for spinal surgery and oral reconstruction that was spun off last year from Zimmer Biomet Holdings Inc. (NYSE and SIX: ZBH), experienced a double-digit year-over-year decrease in sales during the fourth quarter of 2022 and nearly as significant a drop in full-year revenue when comparing 2022 to 2021.
The firm’s fourth quarter sales were $228.2 million, a decrease of 12.4% compared to the same period in 2021.
In the dental division, the drop was “driven by a general slowdown of customer purchases due to macroeconomic pressures and in anticipation…
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