MIAMI– H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $60 billion of capital under management, is pleased to announce that one of its affiliates has completed the acquisition of the Spine division of ZimVie, Inc (“ZimVie”, NYSE: ZIMV). The acquired business will operate as an independent entity and has been renamed Highridge Medical (“Highridge” or the “Company”).
Headquartered in Westminster, CO, Highridge is a leader in the global spinal device market that develops, manufactures, and delivers a comprehensive portfolio of products and solutions designed to treat a wide range of spine pathologies. The Company has a market-leading portfolio of bone healing therapies and will be led by a team of seasoned executives from the medical device industry. Glen Kashuba will join Highridge as the Chief Executive Officer and Rebecca Whitney will continue as President of Highridge. Eric Major, the founder and former CEO of K2M Group Holdings, will serve as Executive Chairman of the Board of Directors, and Chris O’Connell, former EVP & Group President at Medtronic and CEO of Waters Corporation, will also join the Company’s Board of Directors.
Glen Kashuba commented, “Highridge has a robust foundation of spine solutions supported by extensive clinical evidence and patient outcomes to build upon. The Company is committed to improving spine care by investing in R&D, product innovation and introducing additional product offerings to restore mobility and alleviate pain for patients around the world. We believe our partnership with H.I.G. to create the largest privately held spine business in the industry will generate lasting benefits for distributors, surgeons, and patients.”
Rebecca Whitney added, “We are excited to begin this next chapter with H.I.G. The current management team has made significant progress across the organization, and we are encouraged by the growth opportunities ahead for our business. We believe this partnership will solidify Highridge’s market leading position and will deliver increased value to the surgeons and patients we serve.”
“I am thrilled to embark on this new chapter alongside Highridge and H.I.G.,” stated Eric Major. “We are committed to a culture of rapid innovation, informed by pioneering surgeons, and driven by our dedicated team. We will expand and continue to invest in our strong technology portfolio of best-in-class solutions.”
“We are excited to partner with Glen, Rebecca, and Highridge’s exceptional management team to enhance the Company’s leadership position in the market,” said Mike Gallagher, Managing Director at H.I.G. “Highridge has a solid foundation with a market-leading product portfolio, strong surgeon satisfaction, and exceptional patient outcomes.”
Gwen Watanabe, Managing Director at H.I.G., added, “H.I.G. has followed the spine market closely for many years, and we believe Highridge is uniquely positioned to succeed in this market. We are looking forward to significant growth through operational excellence, increased investment into our R&D pipeline, and strategic acquisition opportunities.”
H.I.G.’s investment in Highridge represents its latest transaction in the medical device sector. Other H.I.G. medical device investments include Augmedics, Vertiflex (acquired by Boston Scientific), Neuwave Medical (acquired by J&J), and Intact Vascular (acquired by Philips).
