H.I.G. Capital, a private equity firm, has agreed to acquire ZimVie Inc., a life sciences company in the dental and spine markets.

ZimVie develops, manufactures and delivers a portfolio of products and services designed to treat a range of spine pathologies and support dental tooth replacement and restoration procedures. From its headquarters in Westminster, Colo., and additional facilities around the globe, the company serves customers in over 70 countries. ZimVie looks to utilize the after-tax proceeds to reduce debt.

“The combination of H.I.G.’s expertise in the medical device space and the capabilities of ZimVie spine management will create an innovation engine for distributors, surgeons and patients,” comments Mike Gallagher, managing director at H.I.G. Capital.

Centerview Partners is serving as financial advisor and Cravath, Swaine & Moore LLP is serving as legal advisor to ZimVie. McDermott Will & Emery LLP is serving as legal advisor to H.I.G. Capital.