ZIMMER BIOMET HOLDINGS, INC. ZBH → ZimVie Inc. ZIMV
| Parent | ZIMMER BIOMET HOLDINGS, INC. ZBH |
|---|---|
| Spinco | ZimVie Inc. ZIMV |
| Status | Completed |
| Structure | Spin-off A filing states a pro-rata distribution: holders receive shares automatically. |
| Focus | Not focus-increasing Parent and spinco remain in the same industry; the separation divides scale rather than business. |
| Ratio | 1 ZimVie share for every 10 Zimmer Biomet shares |
| Parent retains | 19.7% |
| Checked against EDGAR | 2026-08-22 |
Data trap
The information statement's boilerplate says regular-way trading was expected to begin the first trading day FOLLOWING completion, which would mean March 2 — but the dividend was payable at 12:01 a.m., before the open, and trading actually began on March 1 itself. The boilerplate is wrong for this deal and the parent's press release and the first annual report are right. On share counts, no filing states an exact total on the distribution date; the figure here is the closest precise filed number, from a beneficial-ownership footnote two weeks later, and only 80.3 percent of it was distributed because Zimmer Biomet retained 19.7 percent, which it had fully sold within a year.
The restated filings have landed; this is kept as history.
Catalyst clock
- 2021-02-05Separation announced
- 2022-01-21Form 10 filed
- 2022-02-02Form 10 last amended
- 2022-02-07Form 10 effective
- 2022-02-15Record date
- 2022-02-14When-issued trading opens
- 2022-03-01Distribution
- 2022-03-31First standalone earnings
- —Index inclusion announced
Performance since separation
| ZimVie Inc. since separation, to delisting 2025-10-20 | -25.62% |
|---|---|
| ZIMMER BIOMET HOLDINGS, INC. over the same window | -17.28% |
| S&P 500 (SPY) over the same window | +56.12% |
| Russell 2000 (IWM) over the same window | +23.81% |
| Excess over the S&P 500 | -81.74% |
| Excess over the Russell 2000 | -49.43% |
Measured from the first regular-way close on or after the distribution — 2022-03-01 at 25.53 — to 2025-10-21 at 18.99. Window: 3.6 years. ZimVie Inc. stopped trading on 2025-10-20 — acquired, taken private or wound up — so this return runs to that date, not to today. It is kept here deliberately: dropping deals that ended in an acquisition would flatter every base rate on this site, because being bought is often the best outcome a spin-off has. Two benchmarks, because one is misleading: spin-offs are usually small companies, and across this period small caps lagged the S&P by several points a year on their own. Measured against the S&P alone, roughly a third of any shortfall is company size rather than the separation. Returns are arithmetic over end-of-day closing prices. Unlike every other figure on this page, they do not come from a filing.
Pre-distribution investor return
| Parent, announcement to separation | price history starts after the separation |
|---|---|
| Combined (ZIMMER BIOMET HOLDINGS, INC. + ZimVie Inc.), pre-distribution to now | -15.24% |
| Combined excess over the S&P 500 | -68.98% |
| Combined excess over the Russell 2000 | -36.72% |
Combined treats a pre-spin holding as 1 ZimVie share for every 10 Zimmer Biomet shares valued at the parent's last close before regular post-spin trading resumed — 2022-02-28 at 123.39 — against that same basket today. That baseline is a practical proxy, not an attempt to isolate exactly how much value the separation transferred: for a large parent and a small spinco, ordinary day-to-day price noise can be bigger than the transfer itself.
Filings
Every fact on this page comes from one of these.
- 8-Kfiled 2022-02-07 · 0001193125-22-029001Board declares the 80.3 percent dividend, setting the February 15 record date and the March 1 distribution
- 10-12B/Afiled 2022-02-02 · 0001193125-22-024954Final Form 10 amendment
- 8-Kfiled 2022-02-22 · 0001193125-22-048565Final information statement dated February 7, 2022
- 8-Kfiled 2022-03-01 · 0001193125-22-061363Completion: separation completed March 1, 2022 at a 1-for-10 ratio
- 10-Kfiled 2022-03-31 · 0000950170-22-005199First annual report; regular-way Nasdaq trading began March 1, 2022
- 25-NSEfiled 2025-10-20 · 0001354457-25-001034Removal from listing following the ARCHIMED merger at 19.00 dollars cash per share
Notes
Zimmer Biomet's separation of its dental and spine businesses. ZimVie was acquired by an ARCHIMED affiliate in October 2025 at 19.00 dollars a share, so its return here runs to the delisting. Classified non-focus-increasing: parent and spinco sit in adjacent four-digit codes within the same medical-device group.