ZimVie, Enovis & more: 4 medtech spinoffs to know in 2022

Carly Behm -  

Medical device companies are honing in on the spine and orthopedic space, and a key aspect of that strategy includes spinning off segments into new companies.

The first major player to announce a spinoff in 2021 was Zimmer Biomet. In February, the company unveiled plans to offshoot its spine and dental units into a new company. The spinoff transaction for the company, dubbed ZimVie, is expected to close in mid-2022.

Following Zimmer Biomet, DJO's parent company, Colfax, in March announced its plans to split its industrial and medical device businesses. Colfax CEO Matt Trerotola will lead the medical device company, which will include Colfax's current medical technology. That company will be called Enovis, and the separation is set for the first quarter of 2022.

Johnson & Johnson is dividing into two separate companies; one will focus on its medical devices and drugs and the other will focus on consumer health products, according to a November news release. The planned separation of consumer health is expected to accelerate the company's efforts to serve patients, CEO Alex Gorsky said. Completion of the separation is expected in 2023.

In the latest spinoff, RTI Surgical in January plans to split its company into independent entities focused on surgical implants and biologics. The tissues and biologics business will retain the RTI Surgical name. The metals business, which focuses on implants and instruments for spine, orthopedic and cardiothoracic applications, will be called Resolve Surgical Technologies

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