ZimVie (ZIMV) 10-Q 8 May 24 2024 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2024	May 03, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001876588
Entity File Number	001-41242
Entity Registrant Name	ZIMVIE INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	87-2007795
Entity Address, Address Line One	4555 Riverside Drive
Entity Address, City or Town	Palm Beach Gardens
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33410
City Area Code	800
Local Phone Number	342-5454
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	ZIMV
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		27,288,700

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Net Sales
Total Net Sales	$ 118,195	$ 120,406
Cost of products sold, excluding intangible asset amortization	(44,258)	(42,875)
Related party cost of products sold, excluding intangible asset amortization	0	(231)
Intangible asset amortization	(6,022)	(6,794)
Research and development	(6,701)	(7,206)
Selling, general and administrative	(60,330)	(66,973)
Restructuring and other cost reduction initiatives	(2,579)	(1,172)
Acquisition, integration, divestiture and related	(1,037)	(1,342)
Operating Expenses	(120,927)	(126,593)
Operating Loss	(2,732)	(6,187)
Other expense, net	(311)	(30)
Interest expense, net	(4,366)	(5,075)
Loss from continuing operations before income taxes	(7,409)	(11,292)
Provision for income taxes from continuing operations	(4,074)	(5,077)
Net Loss from Continuing Operations of ZimVie Inc.	(11,483)	(16,369)
Earnings (loss) from discontinued operations, net of tax	3,722	(13,599)
Net Loss of ZimVie Inc.	$ (7,761)	$ (29,968)
Basic (Loss) Earnings Per Common Share:
Continuing operations	$ (0.42)	$ (0.62)
Discontinued operations	0.13	(0.52)
Net Loss	(0.29)	(1.14)
Diluted (Loss) Earnings Per Common Share:
Continuing operations	(0.42)	(0.62)
Discontinued operations	0.13	(0.52)
Net Loss	$ (0.29)	$ (1.14)
Third Party Net [Member]
Net Sales
Total Net Sales	$ 118,195	$ 120,170
Related Party Net [Member]
Net Sales
Total Net Sales	$ 0	$ 236

Condensed Consolidated Statem_2

Condensed Consolidated Statements Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net Loss of ZimVie Inc.	$ (7,761)	$ (29,968)
Foreign currency cumulative translation adjustments, net of tax	(15,439)	10,517
Total Other Comprehensive Loss	(15,439)	10,517
Comprehensive Loss	$ (23,200)	$ (19,451)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current Assets:
Cash and cash equivalents	$ 43,528	$ 71,511
Accounts receivable, net of allowance for credit losses of $2,823 and $3,222, respectively	68,931	65,168
Inventories	77,235	79,600
Prepaid expenses and other current assets	17,132	23,825
Current assets of discontinued operations	248,315	242,773
Total Current Assets	455,141	482,877
Property, plant and equipment, net of accumulated depreciation of $127,085 and $126,624, respectively	52,120	54,167
Goodwill	260,356	262,111
Intangible assets, net	109,480	114,354
Other assets	27,016	26,747
Noncurrent assets of discontinued operations	267,494	265,089
Total Assets	1,171,607	1,205,345
Current Liabilities:
Accounts payable	26,955	27,785
Income taxes payable	4,382	2,863
Other current liabilities	62,419	67,108
Current portion of long-term debt	7,013	0
Current liabilities of discontinued operations	68,879	75,858
Total Current Liabilities	169,648	173,614
Deferred income taxes	165	265
Lease liability	9,795	9,080
Other long-term liabilities	9,340	9,055
Non-current portion of debt	502,056	508,797
Noncurrent liabilities of discontinued operations	92,274	95,041
Total Liabilities	783,278	795,852
Commitments and Contingencies (Note 12)
Stockholders' Equity:
Common stock, $0.01 par value, 150,000 shares authorized Shares, issued and outstanding, of 27,273 and 27,076, respectively	273	271
Preferred stock, $0.01 par value, 15,000 shares authorized, 0 shares issued and outstanding	0	0
Additional paid in capital	925,030	922,996
Accumulated deficit	(448,575)	(440,814)
Accumulated other comprehensive loss	(88,399)	(72,960)
Total Stockholders' Equity	388,329	409,493
Total Liabilities and Stockholders' Equity	$ 1,171,607	$ 1,205,345

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Equity, Attributable to Parent [Abstract]
Accounts receivable, net of allowance for credit loss, current	$ 2,823	$ 3,222
Property, plant and equipment, net of accumulated depreciation	$ 127,085	$ 126,624
Common stock, par or stated value per share	$ 0.01	$ 0.01
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	27,273,000	27,076,000
Common stock, shares outstanding	27,273,000	27,076,000
Preferred stock, par or stated value per share	$ 0.01	$ 0.01
Preferred stock, shares authorized	15,000,000	15,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid in Capital	Accumulated Deficit	Accumulated Other Comprehensive (Loss) Income
Beginning Balance at Dec. 31, 2022	$ 758,604	$ 262	$ 897,028	$ (47,532)	$ (91,154)
Net loss	(29,968)	0	0	(29,968)	0
Stock plan activity	(391)	2	(393)	0	0
Share-based compensation expense	4,841	0	4,841	0	0
Other comprehensive (loss) income	10,517	0	0	0	10,517
Ending Balance at Mar. 31, 2023	743,603	264	901,476	(77,500)	(80,637)
Beginning Balance at Dec. 31, 2023	409,493	271	922,996	(440,814)	(72,960)
Net loss	(7,761)	0	0	(7,761)	0
Stock plan activity	(1,437)	2	(1,439)	0	0
Share-based compensation expense	3,473	0	3,473	0	0
Other comprehensive (loss) income	(15,439)	0	0	0	(15,439)
Ending Balance at Mar. 31, 2024	$ 388,329	$ 273	$ 925,030	$ (448,575)	$ (88,399)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended				12 Months Ended
	Mar. 31, 2024		Mar. 31, 2023		Dec. 31, 2023
Cash flows used in operating activities:
Net Loss of ZimVie Inc.	$ (7,761)		$ (29,968)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	8,430		32,631
Share-based compensation	3,473		4,841
Deferred income tax provision	(233)		(4,208)
Loss on disposal of fixed assets	413		0
Other non-cash items	1,596		1,556
Adjustment of spine disposal group to fair value (Note 2)	(11,143)	[1]	0	[1]	$ 289,500
Changes in operating assets and liabilities
Income taxes	6,586		7,047
Accounts receivable	(6,651)		(4,958)
Related party receivable	0		8,483
Inventories	4,588		5,431
Prepaid expenses and other current assets	323		1,311
Accounts payable and accrued liabilities	(10,264)		(11,572)
Related party payable	0		(13,176)
Other assets and liabilities	(868)		(4,614)
Net cash used in operating activities	(11,511)		(7,196)
Cash flows used in investing activities:
Additions to instruments	(1,316)		(1,951)
Additions to other property, plant and equipment	(835)		(1,887)
Other investing activities	(1,987)		(1,994)
Net cash used in investing activities	(4,138)		(5,832)
Cash flows used in financing activities:
Payments on debt	0		(10,519)
Payments related to tax withholding for share-based compensation	(1,437)		(417)
Net cash used in financing activities	(1,437)		(10,936)
Effect of exchange rates on cash and cash equivalents	(2,098)		777
Decrease in cash and cash equivalents	(19,184)		(23,187)
Cash and cash equivalents, beginning of year	87,768		89,601		89,601
Cash and cash equivalents, end of period	68,584		66,414		$ 87,768
Supplemental cash flow information:
Income taxes (refunded) paid, net	(2,366)		1,664
Interest paid	$ 9,360		$ 8,121
[1] We performed an impairment analysis of the spine segment in December 2023 on a held-for-sale basis. The fair value of consideration to be received upon closure of the transaction was less than the carrying value of the spine segment's net assets resulting in a write-down of $ 289.5 million. We updated our analysis as of March 31, 2024 , which resulted in a reduction of the December 2023 write-down of $ 11.1 million .

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Background, Nature of Business

Background, Nature of Business and Basis of Presentation	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Background, Nature of Business and Basis of Presentation	1. Background, Nature of Business and Basis of Presentation Background On March 1, 2022, ZimVie Inc. ("ZimVie," "we," "us" and "our") and Zimmer Biomet Holdings, Inc. ("Zimmer Biomet" or "Parent") entered into a Separation and Distribution Agreement (the "Separation Agreement"), pursuant to which Zimmer Biomet agreed to spin off its spine and dental businesses into ZimVie . The distribution resulted in ZimVie becoming a standalone, publicly traded company. Following the distribution, Zimmer Biomet initially retained 19.7 % of the outstanding shares of ZimVie common stock, and all transactions between ZimVie and Zimmer Biomet from the distribution to February 1, 2023 were reported as related party transactions. As of February 1, 2023, Zimmer Biomet had sold all of its 19.7 % ownership in ZimVie and is no longer considered a related party. As such, transactions with Zimmer Biomet subsequent to February 1, 2023 are reported as third party transactions. See Note 17 to our consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2023 ("Annual Report") for further description of the impact of the distribution and post-spin activities with Zimmer Biomet. Nature of Business ZimVie is a leading medical technology company dedicated to enhancing the quality of life for dental and spine patients worldwide. We develop, manufacture and market a comprehensive portfolio of products and solutions designed to support dental tooth replacement and restoration procedures and treat a wide range of spine pathologies. We are well-positioned in the growing global dental implant, biomaterials and digital dentistry market with a strong presence in the tooth replacement market with market leading positions in certain geographies. Our broad portfolio also addresses all areas of spine with market leadership in cervical disc replacement and vertebral body tethering to treat pediatric scoliosis. Our operations are principally managed on a products basis and have historically included two operating segments, 1) the dental products segment, and 2) the spine products segment. In the dental segment, our core services include designing, manufacturing and distributing dental implant systems. Dental reconstructive implants are for individuals who are totally without teeth or are missing one or more teeth, dental prosthetic products are aimed at providing a more natural restoration to resemble the original teeth, and dental regenerative products are for soft tissue and bone rehabilitation. Our key products include the T3® Implant, Tapered Screw-Vent Implant System, Trabecular Metal™ Dental Implant, BellaTek Encode Impression System and Puros Allograft Particulate. In the spine segment, our core services include designing, manufacturing and distributing medical devices and surgical instruments to deliver comprehensive solutions for individuals with back or neck pain caused by degenerative conditions, deformities or traumatic injury of the spine. We also provide devices that promote bone healing. Other differentiated products in our spine portfolio include Mobi-C® Cervical Disc, a motion-preserving alternative to fusion for patients with cervical disc disease, and The Tether™, a novel non-fusion device for treatment of pediatric scoliosis. Basis of Presentation The accompanying condensed consolidated balance sheets as of March 31, 2024 and December 31, 2023, and the related condensed consolidated statements of operations, condensed consolidated statements of comprehensive loss, condensed consolidated statements of shareholders' equity and condensed consolidated statements of cash flows for the three months ended March 31, 2024 and 2023 of ZimVie are unaudited. In management’s opinion, all adjustments comprising normal recurring adjustments necessary for the fair statement of such condensed consolidated financial statements have been made. The accompanying condensed consolidated financial statements and notes in this Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2024 ("Quarterly Report") are presented as permitted by Regulation S-X and do not contain certain information included in our annual financial statements and notes thereto. Accordingly, the accompanying condensed consolidated financial information should be read in conjunction with the audited consolidated financial statements presented in our Annual Report. During the three months ended March 31, 2024, we recorded out of period adjustments that increased the Loss from continuing operations before income taxes and reduced Earnings from discontinued operations, net of tax, by $ 1.8 million and $ 0.7 million, respectively. We have concluded these out of period adjustments did not have a material impact on our interim condensed consolidated financial statements for the three months ended March 31, 2024, nor were they material to previously issued interim and annual consolidated financial statements. Restricted Cash - As of both March 31, 2024 and December 31, 2023, we had $ 1.5 million in restricted cash. The restriction as of March 31, 2024 and December 31, 2023 is on cash held in China as a result of ongoing litigation with a spine products distributor in China related to our decision to exit our spine products business in China. Sale of Spine Business - On December 15, 2023, we entered into a definitive agreement to sell our spine segment to an affiliate of H.I.G. Capital for $ 375 million in total consideration, comprised of $ 315 million in cash, subject to certain customary adjustments as set forth in the agreement, and $ 60 million in the form of a promissory note that will accrue interest at a rate of 10 % per annum, compounded semi-annually, payable in kind. On April 1, 2024, we completed the sale of our spine segment for a total purchase price of $ 377.2 million (inclusive of $ 2.2 million in preliminary closing adjustments), subject to certain customary adjustments as set forth in the agreement, and received proceeds of $ 311.8 million, excluding the promissory note and transaction costs. See Note 2 for additional discussion. The historical results of our spine segment have been reflected as discontinued operations in our condensed consolidated financial statements as the sale represents a strategic shift in our business that has a major effect on operations and financial results. The assets and liabilities associated with this business are classified as assets and liabilities of discontinued operations in the condensed consolidated balance sheets. The disclosures presented in the notes to the condensed consolidated financial statements are presented on a continuing operations basis, unless otherwise noted. Accounting Pronouncements Recently Issued In October 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update ("ASU") 2023-06, Disclosure Improvements: Codification Amendments in Response to the SEC's Disclosure Update and Simplification Initiative . This ASU amends the interim and annual disclosure requirements related to a variety of subtopics in the Accounting Standards Codification, including those focusing on accounting changes, earnings per share, debt and repurchase agreements. The guidance will be applied prospectively. The effective date for each amendment will be the date when the SEC's removal of the related disclosure requirement from Regulation S-X or Regulation S-K becomes effective, with early adoption prohibited. We are currently evaluating the effect of this ASU, but we do not expect it will have a material impact on our condensed consolidated financial statements or disclosures. In November 2023, FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures . The key amendments require disclosure of significant segment expenses on an annual and interim basis that are regularly provided to the chief operating decision maker ("CODM") and included within each reported measure of segment profit or loss, including other segment items by reportable segment and a description of their composition, and to provide all annual disclosures about a reportable segment’s profit or loss and assets currently required by FASB Topic 280, Segment Reporting, in interim periods as well. This ASU includes certain clarifications for measuring a segment's profit or loss in assessment by the CODM, disclosure of title and position of the CODM and an explanation of how the CODM uses the reported measures in assessing segment performance and deciding how to allocate resources. The amendments in this update are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. We are currently in the process of evaluating the effect of this ASU. In December 2023, FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures . The amendments included in the ASU related to rate reconciliation, income taxes paid disclosures and other disclosures requiring consistent categories and greater disaggregation of information in the rate reconciliation and income taxes paid disaggregated by jurisdiction. The amendments allow investors to better assess, in their capital allocation decisions, how an entity’s worldwide operations and related tax risks and tax planning and operational opportunities affect its income tax rate and prospects for future cash flows. The amendments in this update are effective for annual periods beginning after December 15, 2024. We are currently in the process of evaluating the effect of this ASU. In March 2024, the SEC adopted final rules requiring public entities to provide certain climate-related information in their registration statements and annual reports. As part of the disclosures, entities will be required to quantify certain effects of severe weather events and other natural conditions in a note to their consolidated financial statements. While the SEC voluntarily stayed the rules due to pending judicial review, the rules in their current form would be effective for accelerated filers for annual periods beginning after December 15, 2025. We are currently in the process of evaluating the effect of these final rules. Other recently issued ASUs, excluding ASUs discussed above, were assessed and determined to be not applicable, or are not expected to have a material impact on our condensed consolidated financial statements or disclosures.

Discontinued Operations

Discontinued Operations	3 Months Ended
	Mar. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	2. Discontinued Operations As discussed in Note 1, on December 15, 2023, we entered into a definitive agreement to sell our spine segment. The historical financial condition and results of operations of our spine segment have been reflected as discontinued operations in our condensed consolidated financial statements. The assets and liabilities associated with this segment are classified as assets and liabilities of discontinued operations in the condensed consolidated balance sheets. On April 1, 2024, we completed the sale of our spine segment for a total purchase price of $ 377.2 million (inclusive of $ 2.2 million in preliminary closing adjustments), subject to certain customary adjustments as set forth in the agreement, and received proceeds of $ 311.8 million, excluding the promissory note and transaction costs. In conjunction with the sale, we entered into a Transition Services Agreement ("TSA") to provide certain support services for up to 12 months from the closing date of the sale. These services include, among others, accounting, information technology, human resources, quality assurance, regulatory affairs and customer support. Income recognized related to the TSA will be recorded as Other income in our condensed consolidated statements of operations. Details of earnings (loss) from discontinued operations included in our condensed consolidated statement of operations are as follows (in thousands): For the Three Months Ended March 31, 2024 2023 Net Sales Third party, net $ 93,824 $ 104,918 Related party, net — 103 Total Net Sales 93,824 105,021 Cost of products sold, excluding intangible asset amortization ( 28,441 ) ( 27,842 ) Related party cost of products sold, excluding intangible asset amortization — ( 97 ) Intangible asset amortization — ( 13,715 ) Research and development ( 6,654 ) ( 8,168 ) Selling, general and administrative ( 54,121 ) ( 60,995 ) Restructuring and other cost reduction initiatives ( 1,851 ) ( 3,802 ) Acquisition, integration, divestiture and related ( 6,373 ) ( 341 ) Other expense, net ( 344 ) ( 876 ) Interest expense, net (1) ( 5,294 ) ( 3,891 ) Loss from discontinued operations before income taxes ( 9,254 ) ( 14,706 ) Adjustment of spine disposal group to fair value (2) 11,143 — Benefit for income taxes from discontinued operations 1,833 1,107 Earnings (loss) from discontinued operations, net of tax $ 3,722 $ ( 13,599 ) (1) A portion of the interest on our Term Loan (as defined and described in Note 8) has been allocated to discontinued operations consistent with the amount of proceeds used to repay a portion of the amounts outstanding under our Term Loan in accordance with our Credit Agreement (as defined and described in Note 8). (2) We performed an impairment analysis of the spine segment in December 2023 on a held-for-sale basis. The fair value of consideration to be received upon closure of the transaction was less than the carrying value of the spine segment's net assets resulting in a write-down of $ 289.5 million. We updated our analysis as of March 31, 2024 , which resulted in a reduction of the December 2023 write-down of $ 11.1 million . Details of assets and liabilities of discontinued operations are as follows (in thousands): As of March 31, 2024 December 31, 2023 Cash and cash equivalents $ 25,056 $ 16,257 Accounts receivable, less allowance for credit losses 84,622 83,871 Inventories 125,115 130,430 Prepaid expenses and other current assets 13,522 12,215 Total Current Assets of Discontinued Operations 248,315 242,773 Property, plant and equipment, net 63,488 62,692 Intangible assets, net 468,008 477,110 Other assets 14,311 14,743 Total Noncurrent Assets of Discontinued Operations 545,807 554,545 Accounts payable $ 22,547 $ 24,186 Income taxes payable 512 410 Other current liabilities 45,820 51,262 Total Current Liabilities of Discontinued Operations 68,879 75,858 Deferred income taxes 83,712 86,037 Lease liability 7,102 8,032 Other long-term liabilities 1,460 972 Total Noncurrent Liabilities of Discontinued Operations $ 92,274 $ 95,041 Adjustment of spine disposal group to fair value (1) ( 278,313 ) ( 289,456 ) (1) This adjustment is reflected in Noncurrent assets of discontinued operations in the condensed consolidated balance sheets. Cash flows attributable to our discontinued operations are included on our condensed consolidated statements of cash flows. Significant non-cash operating and investing activities attributable to discontinued operations consisted of the following (in thousands): For the Three Months Ended March 31, 2024 2023 Depreciation and amortization $ — $ 24,003 Share-based compensation 712 617 Adjustment of spine disposal group to fair value 11,143 — Additions to instruments 1,316 1,951 Additions to other property, plant & equipment 88 795

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	3. Goodwill and Other Intangible Assets The following table summarizes the changes in the carrying amount of goodwill by historical reportable segment (in thousands): Total Balance at December 31, 2023 Goodwill, Gross $ 404,111 Accumulated impairment losses ( 142,000 ) Goodwill, Net 262,111 Currency translation ( 1,755 ) Balance at March 31, 2024 Goodwill, Gross 402,356 Accumulated impairment losses ( 142,000 ) Goodwill, Net $ 260,356 The components of identifiable intangible assets were as follows (in thousands): Technology Trademarks Customer Relationships Other Total As of December 31, 2023: Intangible assets subject to amortization: Gross carrying amount $ 168,841 $ 37,056 $ 143,565 $ 47,670 $ 397,132 Accumulated amortization ( 113,354 ) ( 23,393 ) ( 98,361 ) ( 47,670 ) ( 282,778 ) Total identifiable intangible assets $ 55,487 $ 13,663 $ 45,204 $ — $ 114,354 As of March 31, 2024: Intangible assets subject to amortization: Gross carrying amount $ 168,787 $ 36,782 $ 141,595 $ 47,564 $ 394,728 Accumulated amortization ( 115,456 ) ( 23,941 ) ( 99,787 ) ( 46,064 ) ( 285,248 ) Total identifiable intangible assets $ 53,331 $ 12,841 $ 41,808 $ 1,500 $ 109,480 Estimated annual amortization expense for the years ending December 31, 2024 through 2028 based on exchange rates in effect at December 31, 2023 is as follows (in millions): For the Years Ending December 31, 2024 (remaining) $ 18.2 2025 22.2 2026 22.2 2027 16.9 2028 11.8

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	. Share-Based Compensation Conversion Awards Zimmer Biomet has share-based compensation plans under which it granted stock options, restricted stock units ("RSUs") and performance-based RSUs . In connection with the distribution, ZimVie employees with outstanding Zimmer Biomet share-based awards received replacement share-based awards. The ratio used to convert the Zimmer Biomet share-based awards was designed to preserve the aggregate intrinsic value of the award immediately after the distribution when compared to the aggregate intrinsic value of the award immediately prior to the distribution. Outstanding RSUs and performance-based RSUs were converted into 0.3 million ZimVie RSUs at a weighted average fair value of $ 31.55 , and outstanding stock options were converted into 2.1 million ZimVie stock options at a weighted average fair value of $ 14.76 . Due to the conversion, ZimVie incurred $ 21.3 million of incremental share-based compensation expense. Of this amount, $ 10.3 million was related to unvested and/or unexercised share-based awards and was recognized at the distribution date. The remaining $ 11.0 million is being recognized over the remainder of the share-based awards' weighted average vesting period of 2.5 years from the date of the distribution. ZimVie Awards The ZimVie Inc. 2022 Stock Incentive Plan was established effective as of March 1, 2022, and was amended effective May 12, 2023 (as amended, the "2022 Plan"). A total of 6.0 million shares of common stock are authorized for issuance under the 2022 Plan. Shares issued pursuant to converted Zimmer Biomet share-based awards do not count against this limit. At March 31, 2024, 2.9 million shares were available for future grants and awards under the 2022 Plan. The 2022 Plan provides for the grant of various types of awards including stock options, stock appreciation rights, performance shares, performance units, restricted stock and RSUs. Generally, awards have a three-year vesting period and stock options have a term of ten years . Vesting may accelerate upon retirement after the first anniversary date of the award if certain criteria are met. Additionally, in cases of special circumstances as determined by the Compensation Committee of the Board of Directors, the Compensation Committee may, it its sole discretion, accelerate vesting. We recognize expense on a straight-line basis over the requisite service period, less awards expected to be forfeited using estimated forfeiture rates. Stock options are granted with an exercise price equal to the market price of our common stock on the date of grant, except in limited circumstances where local law may dictate otherwise. Share-based compensation expense was as follows (in thousands): For the Three Months Ended March 31, 2024 2023 Share-based compensation expense recognized in: Cost of products sold, excluding intangible asset amortization $ ( 18 ) $ 265 Research and development 401 422 Selling, general and administrative 3,090 4,154 3,473 4,841 Tax benefit related to awards ( 861 ) ( 1,209 ) Total expense, net of tax $ 2,612 $ 3,632 Share-based compensation expense related to discontinued operations is included in the table above and is disclosed in Note 2. Stock option activity was as follows: Three Months Ended March 31, 2024 Weighted Weighted Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Stock Options Price Life (Years) Value (in Millions) Outstanding at December 31, 2023 2,303,143 $ 26.83 Granted — — Exercised ( 1,117 ) 18.58 Forfeited ( 82,798 ) 26.10 Outstanding at March 31, 2024 2,219,228 $ 26.87 5.5 $ — Exercisable at March 31, 2024 1,852,652 $ 26.72 5.0 $ — We used a Black-Scholes option-pricing model to determine the fair value of our stock options. For awards granted shortly after the distribution: expected volatility of 52.29 % was derived from a peer group's combined historical volatility that was de-levered and re-levered for ZimVie as ZimVie did not have sufficient historical volatility based on the expected term of the underlying options; the expected term of the stock options of 6.0 years was determined using the simplified method; and the risk-free interest rate of 1.94 % was determined using the implied yield then available for zero-coupon U.S. government issues with a remaining term approximating the expected life of the options. The dividend yield was zero as ZimVie has no plans to pay a dividend for the foreseeable future. Aggregate intrinsic value was negligible at March 31, 2024. At March 31, 2024, we had unrecognized share-based compensation cost related to unvested stock options of $ 4.2 million , which is expected to be amortized over the remaining weighted average vesting period of approximately 1.1 years. RSU activity was as follows: Three Months Ended March 31, 2024 Weighted Average Number of Grant Date RSUs Fair Value Outstanding at December 31, 2023 1,942,210 $ 15.13 Granted 738,939 17.58 Vested ( 278,865 ) 28.13 Forfeited ( 132,728 ) 14.22 Outstanding at March 31, 2024 2,269,556 $ 14.38 RSUs outstanding at March 31, 2024 included 326,321 RSUs (at target) with performance-based vesting provisions ("PRSUs"). PRSUs may vest from 0 - 150 % of target based on the level of achievement of pre-defined performance metrics. PRSUs are payable in common shares and do not have the right to vote until vested. Compensation expense related to PRSUs is recognized over a 36-month cliff vesting period, and is adjusted as needed for changes in the projected level of achievement of the performance metrics. At March 31, 2024, we had unrecognized share-based compensation cost related to unvested RSUs of $ 22.1 million , which is expected to be amortized into earnings over the remaining weighted average vesting period of approximately 1.5 years. The total fair value of RSUs granted during the three months ended March 31, 2024 and 2023 was $ 13.0 million and negligible, respectively. The total fair value of RSUs that vested during the three months ended March 31, 2024 and 2023 was $ 7.8 million and $ 6.1 million , respectively.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Earnings Per Share	5. Earnings Per Share The calculation of weighted average shares for basic and diluted net loss per common share is as follows (in thousands, except per share data): For the Three Months Ended March 31, 2024 2023 Net Loss from Continuing Operations of ZimVie Inc. $ ( 11,483 ) $ ( 16,369 ) Earnings (loss) from discontinued operations, net of tax 3,722 ( 13,599 ) Net Loss of ZimVie Inc. $ ( 7,761 ) $ ( 29,968 ) Weighted average shares outstanding for basic net loss per common share 27,125 26,263 Effect of dilutive stock options and other equity awards (1) — — Weighted average shares outstanding for diluted net loss per common share 27,125 26,263 Basic (Loss) Earnings Per Common Share: Continuing operations $ ( 0.42 ) $ ( 0.62 ) Discontinued operations 0.13 ( 0.52 ) Net Loss $ ( 0.29 ) $ ( 1.14 ) Diluted (Loss) Earnings Per Common Share: Continuing operations $ ( 0.42 ) $ ( 0.62 ) Discontinued operations 0.13 ( 0.52 ) Net Loss $ ( 0.29 ) $ ( 1.14 ) (1) Since we incurred a net loss in each of the three months ended March 31, 2024 and 2023, no dilutive stock options or other equity awards were included as diluted shares in those periods. For the three months ended March 31, 2024 and 2023 , a weighted average of 2.4 million and 3.4 million, respectively, options to purchase shares of common stock were not included in the computation of diluted net loss per share as the exercise prices of these options were greater than the average market price of the common stock.

Balance Sheet Details

Balance Sheet Details	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Balance Sheet Details	6. Balance Sheet Details Inventories consisted of the following (in thousands): March 31, 2024 December 31, 2023 Finished goods $ 50,007 $ 54,456 Work-in-progress 21,159 20,659 Raw materials 6,069 4,485 Inventories $ 77,235 $ 79,600 Amounts related to cost of products sold in the condensed consolidated statements of operations for excess and obsolete ("E&O") inventory, including certain product lines we intend to discontinue, were an expense of $ 0.7 million and a benefit of $ 1.0 million in the three months ended March 31, 2024 and 2023, respectively. Other current liabilities consisted of the following (in thousands): March 31, 2024 December 31, 2023 Other current liabilities: Salaries, wages and benefits $ 18,155 $ 23,171 Lease liabilities 3,700 4,053 Other liabilities 40,564 39,884 Total other current liabilities $ 62,419 $ 67,108

Fair Value Measurements of Asse

Fair Value Measurements of Assets and Liabilities	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements of Assets and Liabilities	7. Fair Value Measurements of Assets and Liabilities The fair value of foreign currency exchange forward contracts (see Note 9) are determined using Level 2 inputs. The carrying value of our debt (see Note 8) approximates fair value as it bears interest at floating rates. The carrying amounts of other financial instruments (i.e., cash and cash equivalents, restricted cash, bank time deposits, accounts receivable, net, and accounts payable) approximated their fair values at March 31, 2024 and December 31, 2023 due to their short-term nature. The fair values of acquisition-related contingent payments are estimated using Level 3 inputs. Contingent payments related to acquisitions consist of sales-based payments and are valued using discounted cash flow techniques. The fair value of sales-based payments is based upon probability-weighted future revenue estimates and increases as revenue estimates increase. The following table provides a reconciliation of the beginning and ending balances of items measured at fair value on a recurring basis that used significant unobservable inputs (Level 3) (in thousands): Level 3 - Liabilities Contingent payments related to acquisitions Balance December 31, 2023 $ 9,799 Settlements ( 2,963 ) Balance March 31, 2024 $ 6,836

Debt

Debt	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Debt	8. Debt Our debt consisted of the following (in thousands): March 31, 2024 December 31, 2023 Term loan $ 511,912 $ 511,912 Debt issuance costs ( 2,843 ) ( 3,115 ) Total debt 509,069 508,797 Less: current portion ( 7,013 ) — Total debt due after one year $ 502,056 $ 508,797 We entered into a Credit Agreement, dated as of December 17, 2021 (the “Credit Agreement”), with JP Morgan Chase Bank, N.A., as administrative agent and syndication agent, and the lenders and issuing banks named therein. The Credit Agreement provides for revolving loans of up to $ 175.0 million (the “Revolver”) and term loan borrowings of up to $ 595.0 million (the “Term Loan” and, together with the Revolver, the “Credit Facility”). As of March 31, 2024, $ 511.9 million was outstanding on the Term Loan, and there were no outstanding borrowings under the Revolver. On April 1, 2024, we prepaid $ 275.0 million on the Term Loan using proceeds from the sale of our spine segment (as discussed in Notes 1 and 2), and we wrote off $ 0.9 million of debt issuance costs. As a result of this prepayment, we have no more scheduled quarterly amortization payments on the Term Loan, and the remaining balance is due at maturity on February 28, 2027. As of March 31, 2024, our interest rate was the secured overnight financing rate plus the applicable margin of 1.75 % for term benchmark borrowings. Commitments under the Revolver are s ubject to a commitment fee on the unused portion of the Revolver of 25 basis points. Borrowings under the Credit Facility are collateralized by substantially all of our personal property, including intellectual property and certain real property, and we, along with our subsidiaries party to the Credit Facility, pledged our equity interests in our subsidiaries, subject to materiality thresholds and certain limitations with respect to foreign subsidiaries. The Credit Facility contains various covenants that restrict our ability to take certain actions, including incurrence of indebtedness, creation of liens, mergers or consolidations, dispositions of assets, making certain investments, prepayments or redemptions of subordinated debt, or making certain restricted payments. In addition, the Credit Facility contains financial covenants that require us to maintain a maximum consolidated total net leverage ratio of 6.00 to 1.00 . We were in compliance with all covenants as of March 31, 2024. See Note 9 to our consolidated financial statements included in our Annual Report for additional information on our Credit Agreement. In April 2023, we financed $ 4.8 million of our corporate insurance premium, all of which was repaid by June 30, 2023.

Derivatives

Derivatives	3 Months Ended
	Mar. 31, 2024
Derivatives [Abstract]
Derivatives	9. Derivatives We enter into foreign currency exchange forward contracts with terms of one to three months in order to manage currency exposures related to monetary assets and liabilities denominated in a currency other than an entity’s functional currency. Any foreign currency remeasurement gains or losses recognized in earnings are generally offset with gains or losses on the foreign currency exchange forward contracts in the same reporting period. Outstanding contracts are recorded in our condensed consolidated balance sheet at fair value as of the end of the reporting period. The aggregate notional amounts of these contracts were $ 38.0 million as of March 31, 2024 and $ 25.0 million as of December 31, 2023. Current derivative assets of a negligible amount and $ 0.4 million as of March 31, 2024 and December 31, 2023 , respectively, were included in Prepaid expenses and other current assets on our condensed consolidated balance sheets. Current derivative liabilities of $ 0.1 million and $ 0.2 million as of March 31, 2024 and December 31, 2023, respectively, were included in Other current liabilities in our condensed consolidated balance sheets. Gains (losses) from these derivative instruments recognized in our condensed consolidated statements of operations in Other expense , net were $ 0.1 million and ($ 0.1 million) for the three months ended March 31, 2024 and 2023 , respectively.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	10. Income Taxes Our effective tax rate (“ETR”) on loss before income taxes was ( 55.0 )% and ( 45.0 )% for the three months ended March 31, 2024 and 2023 , respectively. In the three months ended both March 31, 2024 and 2023, the income tax benefit was lower than the 21 % U.S. federal statutory rate due to losses not benefited as a result of valuation allowances and unfavorable U.S. taxable income modifications such as Global Intangible Low-Taxed Income (“GILTI”) and shortfalls on stock compensation.

Segment Data

Segment Data	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Segment Data	11. Segment Data Our Chief Executive Officer is our Chief Operating Decision Maker. He allocates resources to achieve our operating profit goals and historically reviewed business performance through two operating segments, 1) the dental segment, and 2) the spine segment, which also represented our reportable segments. As discussed in Notes 1 and 2, the spine segment is presented as discontinued operations and is not required to be presented in the segment disclosures. We conduct business in the following countries that hold 10% or more of our total combined property, plant and equipment, net (in thousands): As of March 31, 2024 December 31, 2023 U.S. $ 33,933 $ 35,444 Spain 14,354 14,431 Other countries 3,833 4,292 Property, plant and equipment, net $ 52,120 $ 54,167 U.S. and foreign sales (based on the location of the customer) are as follows (in thousands): For the Three Months Ended March 31, 2024 2023 U.S. $ 67,748 $ 69,907 Spain 15,347 15,726 Other countries 35,100 34,537 Third party sales $ 118,195 $ 120,170 Sales within any other individual country were less than 10 % of our combined sales in each of those periods. No single customer accounted for 10% or more of our sales in the three months ended March 31, 2024 and 2023 .

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	12. Commitments and Contingencies We are subject to contingencies, such as various claims, legal proceedings and investigations regarding product liability, intellectual property, commercial and other matters that arise in the normal course of business. On a quarterly and annual basis, we review relevant information with respect to loss contingencies and update our accruals, disclosures and estimates of reasonably possible losses or ranges of loss based on such reviews. We record liabilities for loss contingencies when it is probable that a loss has been incurred and the amount can be reasonably estimated. For matters where a loss is believed to be reasonably possible, but not probable, no accrual has been made. Legal defense costs expected to be incurred in connection with a loss contingency are accrued when probable and reasonably estimable. The recorded accrual balance for loss contingencies was $ 2.5 million and $ 2.6 mi llion as of March 31, 2024 and December 31, 2023, respectively, and mostly relates to discontinued operations. Initiation of new legal proceedings or a change in the status of existing proceedings may result in a change in the estimated loss accrued. Subject to certain exceptions specified in the Separation Agreement, we assumed the liability for, and control of, all pending and threatened legal matters related to our business, including liabilities for any claims or legal proceedings related to products that had been part of our business, but were discontinued prior to the distribution, as well as assumed or retained liabilities, and will indemnify Zimmer Biomet for any liability arising out of or resulting from such assumed legal matters.

Restructuring and Other Cost Re

Restructuring and Other Cost Reduction Initiatives	3 Months Ended
	Mar. 31, 2024
Restructuring and Related Activities [Abstract]
Restructuring and Other Cost Reduction Initiatives	13. Restructuring and Other Cost Reduction Initiatives In January 2024, we initiated restructuring activities to better structure the organization to support our dental segment after the disposal of the spine segment. During the three months ended March 31, 2024, we recorded pre-tax charges of $ 2.4 million related to these activities. The restructuring charges incurred under this plan were primarily related to employee termination benefits. We anticipate total charges of approximately $ 7.0 million related to this plan. In April and July 2023, we initiated restructuring activities to better position our organization for future success based on the then-current business environment. These activities had the objective of reducing our global cost structure and streamlining our organizational infrastructure across all regions, functions and levels. During the three months ended March 31, 2024 and 2023, the pre-tax charges recorded under this plan were negligible and $ 1.2 million , respectively, primarily related to professional fees. We have incurred pre-tax charges of $ 4.1 million from inception through March 31, 2024 and no future charges are expected under this plan. In June 2022, we initiated a restructuring plan with the objective of reducing costs and optimizing our global footprint. During the three months ended March 31, 2024, we recorded pre-tax charges of $ 0.2 million related to the actions under this plan, primarily related to employee termination benefits. During the three months ended March 31, 2023, actions under this plan resulted in pre-tax charges that were negligible. We have incurred pre-tax charges of $ 3.0 million from inception through March 31, 2024, and we anticipate total charges of approximat ely $ 3.8 million related to this plan. We anticipate incurring the remaining charges throughout the remainder of 2024. The following table summarizes the liabilities directly attributable to us that were recognized under the plans discussed above and excludes non-cash charges (in thousands): Three Months Ended March 31, Employee Other Total Balance, December 31, 2023 $ 947 $ — $ 947 Additions 2,507 71 2,578 Cash payments ( 1,613 ) ( 71 ) ( 1,684 ) Balance, March 31, 2024 $ 1,841 $ — $ 1,841

Background, Nature of Busines_2

Background, Nature of Business and Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Nature of Business	Nature of Business ZimVie is a leading medical technology company dedicated to enhancing the quality of life for dental and spine patients worldwide. We develop, manufacture and market a comprehensive portfolio of products and solutions designed to support dental tooth replacement and restoration procedures and treat a wide range of spine pathologies. We are well-positioned in the growing global dental implant, biomaterials and digital dentistry market with a strong presence in the tooth replacement market with market leading positions in certain geographies. Our broad portfolio also addresses all areas of spine with market leadership in cervical disc replacement and vertebral body tethering to treat pediatric scoliosis. Our operations are principally managed on a products basis and have historically included two operating segments, 1) the dental products segment, and 2) the spine products segment. In the dental segment, our core services include designing, manufacturing and distributing dental implant systems. Dental reconstructive implants are for individuals who are totally without teeth or are missing one or more teeth, dental prosthetic products are aimed at providing a more natural restoration to resemble the original teeth, and dental regenerative products are for soft tissue and bone rehabilitation. Our key products include the T3® Implant, Tapered Screw-Vent Implant System, Trabecular Metal™ Dental Implant, BellaTek Encode Impression System and Puros Allograft Particulate. In the spine segment, our core services include designing, manufacturing and distributing medical devices and surgical instruments to deliver comprehensive solutions for individuals with back or neck pain caused by degenerative conditions, deformities or traumatic injury of the spine. We also provide devices that promote bone healing. Other differentiated products in our spine portfolio include Mobi-C® Cervical Disc, a motion-preserving alternative to fusion for patients with cervical disc disease, and The Tether™, a novel non-fusion device for treatment of pediatric scoliosis.
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated balance sheets as of March 31, 2024 and December 31, 2023, and the related condensed consolidated statements of operations, condensed consolidated statements of comprehensive loss, condensed consolidated statements of shareholders' equity and condensed consolidated statements of cash flows for the three months ended March 31, 2024 and 2023 of ZimVie are unaudited. In management’s opinion, all adjustments comprising normal recurring adjustments necessary for the fair statement of such condensed consolidated financial statements have been made. The accompanying condensed consolidated financial statements and notes in this Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2024 ("Quarterly Report") are presented as permitted by Regulation S-X and do not contain certain information included in our annual financial statements and notes thereto. Accordingly, the accompanying condensed consolidated financial information should be read in conjunction with the audited consolidated financial statements presented in our Annual Report. During the three months ended March 31, 2024, we recorded out of period adjustments that increased the Loss from continuing operations before income taxes and reduced Earnings from discontinued operations, net of tax, by $ 1.8 million and $ 0.7 million, respectively. We have concluded these out of period adjustments did not have a material impact on our interim condensed consolidated financial statements for the three months ended March 31, 2024, nor were they material to previously issued interim and annual consolidated financial statements. Restricted Cash - As of both March 31, 2024 and December 31, 2023, we had $ 1.5 million in restricted cash. The restriction as of March 31, 2024 and December 31, 2023 is on cash held in China as a result of ongoing litigation with a spine products distributor in China related to our decision to exit our spine products business in China. Sale of Spine Business - On December 15, 2023, we entered into a definitive agreement to sell our spine segment to an affiliate of H.I.G. Capital for $ 375 million in total consideration, comprised of $ 315 million in cash, subject to certain customary adjustments as set forth in the agreement, and $ 60 million in the form of a promissory note that will accrue interest at a rate of 10 % per annum, compounded semi-annually, payable in kind. On April 1, 2024, we completed the sale of our spine segment for a total purchase price of $ 377.2 million (inclusive of $ 2.2 million in preliminary closing adjustments), subject to certain customary adjustments as set forth in the agreement, and received proceeds of $ 311.8 million, excluding the promissory note and transaction costs. See Note 2 for additional discussion. The historical results of our spine segment have been reflected as discontinued operations in our condensed consolidated financial statements as the sale represents a strategic shift in our business that has a major effect on operations and financial results. The assets and liabilities associated with this business are classified as assets and liabilities of discontinued operations in the condensed consolidated balance sheets. The disclosures presented in the notes to the condensed consolidated financial statements are presented on a continuing operations basis, unless otherwise noted.
Accounting Pronouncements Recently Issued	Accounting Pronouncements Recently Issued In October 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update ("ASU") 2023-06, Disclosure Improvements: Codification Amendments in Response to the SEC's Disclosure Update and Simplification Initiative . This ASU amends the interim and annual disclosure requirements related to a variety of subtopics in the Accounting Standards Codification, including those focusing on accounting changes, earnings per share, debt and repurchase agreements. The guidance will be applied prospectively. The effective date for each amendment will be the date when the SEC's removal of the related disclosure requirement from Regulation S-X or Regulation S-K becomes effective, with early adoption prohibited. We are currently evaluating the effect of this ASU, but we do not expect it will have a material impact on our condensed consolidated financial statements or disclosures. In November 2023, FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures . The key amendments require disclosure of significant segment expenses on an annual and interim basis that are regularly provided to the chief operating decision maker ("CODM") and included within each reported measure of segment profit or loss, including other segment items by reportable segment and a description of their composition, and to provide all annual disclosures about a reportable segment’s profit or loss and assets currently required by FASB Topic 280, Segment Reporting, in interim periods as well. This ASU includes certain clarifications for measuring a segment's profit or loss in assessment by the CODM, disclosure of title and position of the CODM and an explanation of how the CODM uses the reported measures in assessing segment performance and deciding how to allocate resources. The amendments in this update are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. We are currently in the process of evaluating the effect of this ASU. In December 2023, FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures . The amendments included in the ASU related to rate reconciliation, income taxes paid disclosures and other disclosures requiring consistent categories and greater disaggregation of information in the rate reconciliation and income taxes paid disaggregated by jurisdiction. The amendments allow investors to better assess, in their capital allocation decisions, how an entity’s worldwide operations and related tax risks and tax planning and operational opportunities affect its income tax rate and prospects for future cash flows. The amendments in this update are effective for annual periods beginning after December 15, 2024. We are currently in the process of evaluating the effect of this ASU. In March 2024, the SEC adopted final rules requiring public entities to provide certain climate-related information in their registration statements and annual reports. As part of the disclosures, entities will be required to quantify certain effects of severe weather events and other natural conditions in a note to their consolidated financial statements. While the SEC voluntarily stayed the rules due to pending judicial review, the rules in their current form would be effective for accelerated filers for annual periods beginning after December 15, 2025. We are currently in the process of evaluating the effect of these final rules. Other recently issued ASUs, excluding ASUs discussed above, were assessed and determined to be not applicable, or are not expected to have a material impact on our condensed consolidated financial statements or disclosures.

Discontinued Operations (Tables

Discontinued Operations (Tables)	3 Months Ended
	Mar. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]
Summary of Details of Earnings (Loss), Asset and Liabilities, Significant Non-Cash Operating Activities and Capital Expenditures from Discontinued Operations	Details of earnings (loss) from discontinued operations included in our condensed consolidated statement of operations are as follows (in thousands): For the Three Months Ended March 31, 2024 2023 Net Sales Third party, net $ 93,824 $ 104,918 Related party, net — 103 Total Net Sales 93,824 105,021 Cost of products sold, excluding intangible asset amortization ( 28,441 ) ( 27,842 ) Related party cost of products sold, excluding intangible asset amortization — ( 97 ) Intangible asset amortization — ( 13,715 ) Research and development ( 6,654 ) ( 8,168 ) Selling, general and administrative ( 54,121 ) ( 60,995 ) Restructuring and other cost reduction initiatives ( 1,851 ) ( 3,802 ) Acquisition, integration, divestiture and related ( 6,373 ) ( 341 ) Other expense, net ( 344 ) ( 876 ) Interest expense, net (1) ( 5,294 ) ( 3,891 ) Loss from discontinued operations before income taxes ( 9,254 ) ( 14,706 ) Adjustment of spine disposal group to fair value (2) 11,143 — Benefit for income taxes from discontinued operations 1,833 1,107 Earnings (loss) from discontinued operations, net of tax $ 3,722 $ ( 13,599 ) (1) A portion of the interest on our Term Loan (as defined and described in Note 8) has been allocated to discontinued operations consistent with the amount of proceeds used to repay a portion of the amounts outstanding under our Term Loan in accordance with our Credit Agreement (as defined and described in Note 8). (2) We performed an impairment analysis of the spine segment in December 2023 on a held-for-sale basis. The fair value of consideration to be received upon closure of the transaction was less than the carrying value of the spine segment's net assets resulting in a write-down of $ 289.5 million. We updated our analysis as of March 31, 2024 , which resulted in a reduction of the December 2023 write-down of $ 11.1 million . Details of assets and liabilities of discontinued operations are as follows (in thousands): As of March 31, 2024 December 31, 2023 Cash and cash equivalents $ 25,056 $ 16,257 Accounts receivable, less allowance for credit losses 84,622 83,871 Inventories 125,115 130,430 Prepaid expenses and other current assets 13,522 12,215 Total Current Assets of Discontinued Operations 248,315 242,773 Property, plant and equipment, net 63,488 62,692 Intangible assets, net 468,008 477,110 Other assets 14,311 14,743 Total Noncurrent Assets of Discontinued Operations 545,807 554,545 Accounts payable $ 22,547 $ 24,186 Income taxes payable 512 410 Other current liabilities 45,820 51,262 Total Current Liabilities of Discontinued Operations 68,879 75,858 Deferred income taxes 83,712 86,037 Lease liability 7,102 8,032 Other long-term liabilities 1,460 972 Total Noncurrent Liabilities of Discontinued Operations $ 92,274 $ 95,041 Adjustment of spine disposal group to fair value (1) ( 278,313 ) ( 289,456 ) (1) This adjustment is reflected in Noncurrent assets of discontinued operations in the condensed consolidated balance sheets. Cash flows attributable to our discontinued operations are included on our condensed consolidated statements of cash flows. Significant non-cash operating and investing activities attributable to discontinued operations consisted of the following (in thousands): For the Three Months Ended March 31, 2024 2023 Depreciation and amortization $ — $ 24,003 Share-based compensation 712 617 Adjustment of spine disposal group to fair value 11,143 — Additions to instruments 1,316 1,951 Additions to other property, plant & equipment 88 795

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Changes in Carrying Amount of Goodwill by Reportable Segment	The following table summarizes the changes in the carrying amount of goodwill by historical reportable segment (in thousands): Total Balance at December 31, 2023 Goodwill, Gross $ 404,111 Accumulated impairment losses ( 142,000 ) Goodwill, Net 262,111 Currency translation ( 1,755 ) Balance at March 31, 2024 Goodwill, Gross 402,356 Accumulated impairment losses ( 142,000 ) Goodwill, Net $ 260,356
Summary of Identifiable Intangible Assets	The components of identifiable intangible assets were as follows (in thousands): Technology Trademarks Customer Relationships Other Total As of December 31, 2023: Intangible assets subject to amortization: Gross carrying amount $ 168,841 $ 37,056 $ 143,565 $ 47,670 $ 397,132 Accumulated amortization ( 113,354 ) ( 23,393 ) ( 98,361 ) ( 47,670 ) ( 282,778 ) Total identifiable intangible assets $ 55,487 $ 13,663 $ 45,204 $ — $ 114,354 As of March 31, 2024: Intangible assets subject to amortization: Gross carrying amount $ 168,787 $ 36,782 $ 141,595 $ 47,564 $ 394,728 Accumulated amortization ( 115,456 ) ( 23,941 ) ( 99,787 ) ( 46,064 ) ( 285,248 ) Total identifiable intangible assets $ 53,331 $ 12,841 $ 41,808 $ 1,500 $ 109,480
Summary of Estimated Annual Amortization Expense Based on Exchange Rates	Estimated annual amortization expense for the years ending December 31, 2024 through 2028 based on exchange rates in effect at December 31, 2023 is as follows (in millions): For the Years Ending December 31, 2024 (remaining) $ 18.2 2025 22.2 2026 22.2 2027 16.9 2028 11.8

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Share-based Compensation	Share-based compensation expense was as follows (in thousands): For the Three Months Ended March 31, 2024 2023 Share-based compensation expense recognized in: Cost of products sold, excluding intangible asset amortization $ ( 18 ) $ 265 Research and development 401 422 Selling, general and administrative 3,090 4,154 3,473 4,841 Tax benefit related to awards ( 861 ) ( 1,209 ) Total expense, net of tax $ 2,612 $ 3,632
Summary of Stock Option Activity	Stock option activity was as follows: Three Months Ended March 31, 2024 Weighted Weighted Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Stock Options Price Life (Years) Value (in Millions) Outstanding at December 31, 2023 2,303,143 $ 26.83 Granted — — Exercised ( 1,117 ) 18.58 Forfeited ( 82,798 ) 26.10 Outstanding at March 31, 2024 2,219,228 $ 26.87 5.5 $ — Exercisable at March 31, 2024 1,852,652 $ 26.72 5.0 $ —
Summary of Restricted Stock Unit Activity	RSU activity was as follows: Three Months Ended March 31, 2024 Weighted Average Number of Grant Date RSUs Fair Value Outstanding at December 31, 2023 1,942,210 $ 15.13 Granted 738,939 17.58 Vested ( 278,865 ) 28.13 Forfeited ( 132,728 ) 14.22 Outstanding at March 31, 2024 2,269,556 $ 14.38

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Summary of Weighted Average Shares for Basic and Diluted Net Loss Per Common Share	The calculation of weighted average shares for basic and diluted net loss per common share is as follows (in thousands, except per share data): For the Three Months Ended March 31, 2024 2023 Net Loss from Continuing Operations of ZimVie Inc. $ ( 11,483 ) $ ( 16,369 ) Earnings (loss) from discontinued operations, net of tax 3,722 ( 13,599 ) Net Loss of ZimVie Inc. $ ( 7,761 ) $ ( 29,968 ) Weighted average shares outstanding for basic net loss per common share 27,125 26,263 Effect of dilutive stock options and other equity awards (1) — — Weighted average shares outstanding for diluted net loss per common share 27,125 26,263 Basic (Loss) Earnings Per Common Share: Continuing operations $ ( 0.42 ) $ ( 0.62 ) Discontinued operations 0.13 ( 0.52 ) Net Loss $ ( 0.29 ) $ ( 1.14 ) Diluted (Loss) Earnings Per Common Share: Continuing operations $ ( 0.42 ) $ ( 0.62 ) Discontinued operations 0.13 ( 0.52 ) Net Loss $ ( 0.29 ) $ ( 1.14 ) (1) Since we incurred a net loss in each of the three months ended March 31, 2024 and 2023, no dilutive stock options or other equity awards were included as diluted shares in those periods.

Balance Sheet Details (Tables)

Balance Sheet Details (Tables)	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Inventories	Inventories consisted of the following (in thousands): March 31, 2024 December 31, 2023 Finished goods $ 50,007 $ 54,456 Work-in-progress 21,159 20,659 Raw materials 6,069 4,485 Inventories $ 77,235 $ 79,600
Schedule of Other Current Liabilities	Other current liabilities consisted of the following (in thousands): March 31, 2024 December 31, 2023 Other current liabilities: Salaries, wages and benefits $ 18,155 $ 23,171 Lease liabilities 3,700 4,053 Other liabilities 40,564 39,884 Total other current liabilities $ 62,419 $ 67,108

Fair Value Measurements of As_2

Fair Value Measurements of Assets and Liabilities (Tables)	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Reconciliation of Items Measured at Fair Value on Recurring Basis with Significant Unobservable Inputs (Level 3)	The following table provides a reconciliation of the beginning and ending balances of items measured at fair value on a recurring basis that used significant unobservable inputs (Level 3) (in thousands): Level 3 - Liabilities Contingent payments related to acquisitions Balance December 31, 2023 $ 9,799 Settlements ( 2,963 ) Balance March 31, 2024 $ 6,836

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of Debt	Our debt consisted of the following (in thousands): March 31, 2024 December 31, 2023 Term loan $ 511,912 $ 511,912 Debt issuance costs ( 2,843 ) ( 3,115 ) Total debt 509,069 508,797 Less: current portion ( 7,013 ) — Total debt due after one year $ 502,056 $ 508,797

Segment Data (Tables)

Segment Data (Tables)	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Disclosure on Geographic Areas, Long-Lived Assets	We conduct business in the following countries that hold 10% or more of our total combined property, plant and equipment, net (in thousands): As of March 31, 2024 December 31, 2023 U.S. $ 33,933 $ 35,444 Spain 14,354 14,431 Other countries 3,833 4,292 Property, plant and equipment, net $ 52,120 $ 54,167 U.S. and foreign sales (based on the location of the customer) are as follows (in thousands): For the Three Months Ended March 31, 2024 2023 U.S. $ 67,748 $ 69,907 Spain 15,347 15,726 Other countries 35,100 34,537 Third party sales $ 118,195 $ 120,170

Restructuring and Other Cost _2

Restructuring and Other Cost Reduction Initiatives (Tables)	3 Months Ended
	Mar. 31, 2024
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Liabilities	The following table summarizes the liabilities directly attributable to us that were recognized under the plans discussed above and excludes non-cash charges (in thousands): Three Months Ended March 31, Employee Other Total Balance, December 31, 2023 $ 947 $ — $ 947 Additions 2,507 71 2,578 Cash payments ( 1,613 ) ( 71 ) ( 1,684 ) Balance, March 31, 2024 $ 1,841 $ — $ 1,841

Background, Nature of Busines_3

Background, Nature of Business and Basis of Presentation - Additional Information (Details) $ in Thousands			3 Months Ended
	Apr. 01, 2024 USD ($)	Dec. 15, 2023 USD ($)	Mar. 31, 2024 USD ($) Segment	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)	Feb. 01, 2023
Number of operating segments | Segment			2
Loss from continuing operations before income taxes			$ (7,409)	$ (11,292)
Earnings (loss) from discontinued operations, net of tax			3,722	$ (13,599)
Restricted cash			$ 1,500		$ 1,500
Consideration by Buyer HIG		$ 315,000
Consideration as promissory note		$ 60,000
Promissory note, interest rate		10%
Subsequent Event
Total purchase price	$ 377,200
Purchase price, inclusive of preliminary closing adjustments	2,200
Proceeds received	$ 311,800
Affiliate of H.I.G. Capital
Total consideration		$ 375,000
Zim Vie Inc
Percentage of common stock shares outstanding			19.70%
Percentage of ownership sold						19.70%
Loss from continuing operations before income taxes			$ 1,800
Earnings (loss) from discontinued operations, net of tax			$ 700

Discontinued Operations - Addit

Discontinued Operations - Additional Information (Details) - Subsequent Event [Member] $ in Millions	Apr. 01, 2024 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total purchase price	$ 377.2
Purchase price, inclusive of preliminary closing adjustments	2.2
Proceeds received	$ 311.8

Discontinued Operations - Summa

Discontinued Operations - Summary of Earnings (Loss) from Discontinued Operations (Details) - USD ($) $ in Thousands		3 Months Ended				12 Months Ended
		Mar. 31, 2024		Mar. 31, 2023		Dec. 31, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total Net Sales		$ 93,824		$ 105,021
Cost of products sold, excluding intangible asset amortization		(28,441)		(27,842)
Related party cost of products sold, excluding intangible asset amortization		0		(97)
Intangible asset amortization		0		(13,715)
Research and development		(6,654)		(8,168)
Selling, general and administrative		(54,121)		(60,995)
Restructuring and other cost reduction initiatives		(1,851)		(3,802)
Acquisition, integration, divestiture and related		(6,373)		(341)
Other expense, net		(344)		(876)
Interest expense, net	[1]	(5,294)		(3,891)
Loss from discontinued operations before income taxes		(9,254)		(14,706)
Adjustment of spine disposal group to fair value		11,143	[2]	0	[2]	$ (289,500)
Benefit for income taxes from discontinued operations		1,833		1,107
Earnings (loss) from discontinued operations, net of tax		3,722		(13,599)
Third Party Net [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total Net Sales		93,824		104,918
Related Party Net [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total Net Sales		$ 0		$ 103
[1] A portion of the interest on our Term Loan (as defined and described in Note 8) has been allocated to discontinued operations consistent with the amount of proceeds used to repay a portion of the amounts outstanding under our Term Loan in accordance with our Credit Agreement (as defined and described in Note 8). We performed an impairment analysis of the spine segment in December 2023 on a held-for-sale basis. The fair value of consideration to be received upon closure of the transaction was less than the carrying value of the spine segment's net assets resulting in a write-down of $ 289.5 million. We updated our analysis as of March 31, 2024 , which resulted in a reduction of the December 2023 write-down of $ 11.1 million .

Discontinued Operations - Sum_2

Discontinued Operations - Summary of Earnings (Loss) from Discontinued Operations (Parenthetical) (Details) - USD ($) $ in Thousands	3 Months Ended				12 Months Ended
	Mar. 31, 2024		Mar. 31, 2023		Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
Adjustment of spine disposal group to fair value	$ (11,143)	[1]	$ 0	[1]	$ 289,500
[1] We performed an impairment analysis of the spine segment in December 2023 on a held-for-sale basis. The fair value of consideration to be received upon closure of the transaction was less than the carrying value of the spine segment's net assets resulting in a write-down of $ 289.5 million. We updated our analysis as of March 31, 2024 , which resulted in a reduction of the December 2023 write-down of $ 11.1 million .

Discontinued Operations - Sum_3

Discontinued Operations - Summary of Assets and Liabilities of Discontinued Operations (Details) - USD ($) $ in Thousands		Mar. 31, 2024	Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
Cash and cash equivalents		$ 25,056	$ 16,257
Accounts receivable, less allowance for credit losses		84,622	83,871
Inventories		125,115	130,430
Prepaid expenses and other current assets		13,522	12,215
Total Current Assets of Discontinued Operations		248,315	242,773
Property, plant and equipment, net		63,488	62,692
Intangible assets, net		468,008	477,110
Other assets		14,311	14,743
Total Noncurrent Assets of Discontinued Operations		545,807	554,545
Accounts payable		22,547	24,186
Income taxes payable		512	410
Other current liabilities		45,820	51,262
Total Current Liabilities of Discontinued Operations		68,879	75,858
Deferred income taxes		83,712	86,037
Lease liability		7,102	8,032
Other long-term liabilities		1,460	972
Total Noncurrent Liabilities of Discontinued Operations		92,274	95,041
Adjustment of spine disposal group to fair value	[1]	$ (278,313)	$ (289,456)
[1] (1) This adjustment is reflected in Noncurrent assets of discontinued operations in the condensed consolidated balance sheets.

Discontinued Operations - Sum_4

Discontinued Operations - Summary of Significant Non-Cash Operating Activities and Capital Expenditures (Details) - USD ($) $ in Thousands	3 Months Ended				12 Months Ended
	Mar. 31, 2024		Mar. 31, 2023		Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
Depreciation and amortization	$ 0		$ 24,003
Share-based compensation	712		617
Adjustment of spine disposal group to fair value	11,143	[1]	0	[1]	$ (289,500)
Additions to instruments	1,316		1,951
Additions to other property, plant & equipment	$ 88		$ 795
[1] We performed an impairment analysis of the spine segment in December 2023 on a held-for-sale basis. The fair value of consideration to be received upon closure of the transaction was less than the carrying value of the spine segment's net assets resulting in a write-down of $ 289.5 million. We updated our analysis as of March 31, 2024 , which resulted in a reduction of the December 2023 write-down of $ 11.1 million .

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Summary of Changes in Carrying Amount of Goodwill by Reportable Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Mar. 31, 2024
Goodwill [Line Items]
Goodwill, Gross	$ 404,111	$ 402,356
Accumulated impairment losses	(142,000)	(142,000)
Goodwill, Net	262,111	$ 260,356
Currency translation	$ (1,755)

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Summary of Identifiable Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 394,728	$ 397,132
Accumulated amortization	(285,248)	(282,778)
Total identifiable intangible assets	109,480	114,354
Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	168,787	168,841
Accumulated amortization	(115,456)	(113,354)
Total identifiable intangible assets	53,331	55,487
Trademarks and Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	36,782	37,056
Accumulated amortization	(23,941)	(23,393)
Total identifiable intangible assets	12,841	13,663
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	141,595	143,565
Accumulated amortization	(99,787)	(98,361)
Total identifiable intangible assets	41,808	45,204
Other [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	47,564	47,670
Accumulated amortization	(46,064)	(47,670)
Total identifiable intangible assets	$ 1,500	$ 0

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Summary of Estimated Annual Amortization Expense Based on Exchange Rates (Details) $ in Millions	Mar. 31, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2024 (remaining)	$ 18.2
2025	22.2
2026	22.2
2027	16.9
2028	$ 11.8

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Mar. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share based compensation expense	$ 3,473	$ 4,841
Unexercised stock option	$ 10,300
Weighted average remaining vesting period	2 years 6 months
Vesting period	3 years
Expected Volatility	52.29%
Expected term	6 years
Risk-free interest rate	1.94%
Dividend yield	0%
Unrecognized share-based compensation cost related to unvested stock options	$ 4,200
Weighted average vesting period of unrecognized share-based compensation costs	1 year 1 month 6 days
2022 Stock Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock shares authorized				6,000,000
Shares available for future grants	2,900,000
Zim Vie Inc
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share based compensation expense	$ 21,300
Stock option not yet recognized	$ 11,000
Restricted Stock Units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average fair value	$ 14.38		$ 15.13
Number of RSUs, Granted	738,939
Number of RSUs outstanding	2,269,556		1,942,210
Unrecognized share-based compensation cost related to unvested stock options	$ 22,100
Weighted average vesting period of unrecognized share-based compensation costs	1 year 6 months
Total fair value of RSUs granted	$ 13,000
Total fair value of RSUs vested	$ 7,800	$ 6,100
Restricted Stock Units | Zim Vie Inc
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average fair value	$ 31.55
Performance Restricted stock units and RSU
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Conversion of Shares	300,000
Vesting period	36 months
Number of RSUs outstanding	326,321
Performance Restricted stock units and RSU | Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Provision for Restricted stock unit vesting percentage	0%
Performance Restricted stock units and RSU | Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Provision for Restricted stock unit vesting percentage	150%
Employee Stock Option
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average fair value	$ 14.76
Vesting period	10 years
Employee Stock Option | Zim Vie Inc
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Conversion of Shares	2,100,000

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total expense, pre-tax	$ 3,473	$ 4,841
Tax benefit related to awards	(861)	(1,209)
Total expense, net of tax	2,612	3,632
Cost of Products Sold, Excluding Intangible Asset Amortization [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total expense, pre-tax	(18)	265
Research and Development [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total expense, pre-tax	401	422
Selling, General and Administrative [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total expense, pre-tax	$ 3,090	$ 4,154

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Stock Option Activity (Details) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($) $ / shares shares
Share-Based Payment Arrangement [Abstract]
Number of Stock Options, Outstanding, Beginning Balance | shares	2,303,143
Number of Stock Options, Granted | shares	0
Number of Stock Options, Exercised | shares	(1,117)
Number of Stock Options, Forfeited | shares	(82,798)
Number of Stock Options, Outstanding, Ending Balance | shares	2,219,228
Number of Stock Options, Exercisable | shares	1,852,652
Weighted Average Exercise Price, Outstanding, Beginning Balance | $ / shares	$ 26.83
Weighted Average Exercise Price, Granted | $ / shares	0
Weighted Average Exercise Price, Exercised | $ / shares	18.58
Weighted Average Exercise Price, Forfeited | $ / shares	26.1
Weighted Average Exercise Price, Outstanding, Ending Balance | $ / shares	26.87
Weighted Average Exercise Price, Exercisable | $ / shares	$ 26.72
Weighted Average Remaining Contractual Life, Outstanding	5 years 6 months
Weighted Average Remaining Contractual Life, Exercisable	5 years
Aggregate Intrinsic Value, Outstanding | $	$ 0
Aggregate Intrinsic Value, Exercisable | $	$ 0

Share-Based Compensation - Su_2

Share-Based Compensation - Summary of Restricted Stock Unit Activity (Details) - Restricted Stock Units	3 Months Ended
	Mar. 31, 2024 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of RSUs, Outstanding, Beginning Balance | shares	1,942,210
Number of RSUs, Granted | shares	738,939
Number of RSUs, Vested | shares	(278,865)
Number of RSUs, Forfeited | shares	(132,728)
Number of RSUs, Outstanding, Ending balance | shares	2,269,556
Weighted Average Grant Date Fair Value, Outstanding, Beginning Balance | $ / shares	$ 15.13
Weighted Average Grant Date Fair Value, Granted | $ / shares	17.58
Weighted Average Grant Date Fair Value, Vested | $ / shares	28.13
Weighted Average Grant Date Fair Value, Forfeited | $ / shares	14.22
Weighted Average Grant Date Fair Value, Outstanding, Ending Balance | $ / shares	$ 14.38

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share [Abstract]
Weighted average number of shares excluded from computation of diluted net loss per share	2.4	3.4

Earnings Per Share - Summary of

Earnings Per Share - Summary of Weighted Average Shares for Basic and Diluted Net Loss Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share [Abstract]
Net Loss from Continuing Operations of ZimVie Inc.	$ (11,483)	$ (16,369)
Earnings (loss) from discontinued operations, net of tax	3,722	(13,599)
Net Loss of ZimVie Inc.	$ (7,761)	$ (29,968)
Weighted average shares outstanding for basic net loss per common share	27,125	26,263
Effect of dilutive stock options and other equity awards	0	0
Weighted average shares outstanding for diluted net loss per common share	27,125	26,263
Earnings Per Share, Basic [Abstract]
Continuing operations	$ (0.42)	$ (0.62)
Discontinued operations	0.13	(0.52)
Net Loss	(0.29)	(1.14)
Earnings Per Share, Diluted [Abstract]
Continuing operations	(0.42)	(0.62)
Discontinued operations	0.13	(0.52)
Net Loss	$ (0.29)	$ (1.14)

Balance Sheet Details - Additio

Balance Sheet Details - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Inventory Disclosure [Abstract]
Expense (Benefit) charged to obsolete inventories	$ 0.7	$ 1

Balance Sheet Details - Summary

Balance Sheet Details - Summary of Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Finished goods	$ 50,007	$ 54,456
Work in progress	21,159	20,659
Raw materials	6,069	4,485
Inventories	$ 77,235	$ 79,600

Balance Sheet Details - Schedul

Balance Sheet Details - Schedule of Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Other current liabilities:
Salaries, wages and benefits	$ 18,155	$ 23,171
Lease liabilities	3,700	4,053
Other liabilities	40,564	39,884
Total other current liabilities	$ 62,419	$ 67,108

Fair Value Measurements of As_3

Fair Value Measurements of Assets and Liabilities - Reconciliation of Items Measured at Fair Value on Recurring Basis with Significant Unobservable Inputs (Level 3) (Details) - Contingent Consideration to Acquisitions [Member] - Significant Unobservable Inputs (Level 3) [Member] $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value, Beginning Balance	$ 9,799
Settlements	(2,963)
Fair Value, Ending Balance	$ 6,836

Debt - Schedule of Debt Due to

Debt - Schedule of Debt Due to Parent (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
Term loan	$ 511,912	$ 511,912
Debt issuance costs	(2,843)	(3,115)
Total debt	509,069	508,797
Less: current portion	(7,013)	0
Total debt due after one year	$ 502,056	$ 508,797

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($)			1 Months Ended	3 Months Ended
	Apr. 01, 2024	Dec. 17, 2021	Apr. 30, 2023	Mar. 31, 2024
Line of Credit Facility [Line Items]
Scheduled repayments on the term loan				$ 0
Debt instrument description				As of March 31, 2024, our interest rate was the secured overnight financing rate plus the applicable margin of 1.75% for term benchmark borrowings. Commitments under the Revolver are subject to a commitment fee on the unused portion of the Revolver of 25 basis points.
Corporate insurance premium finance amount			$ 4,800,000
Revolver
Line of Credit Facility [Line Items]
Credit facility outstanding				$ 0
Term Loan
Line of Credit Facility [Line Items]
Credit facility outstanding				$ 511,900,000
Term Loan | Subsequent Event
Line of Credit Facility [Line Items]
Prepayment of debt	$ 275,000,000
Wrote off of debt isuance cost	$ 900,000
Maximum
Line of Credit Facility [Line Items]
Proceeds from revolving loans		$ 175,000,000
Borrowings under term loan credit agreements		$ 595,000,000
Borrowing interest Rate				1.75%
Debt instrument total net leverage ratio				6
Minimum
Line of Credit Facility [Line Items]
Debt instrument total net leverage ratio				1

Derivatives - Additional Inform

Derivatives - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Current derivative assets	$ 0.4		$ 0.4
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration]	Assets, Current		Assets, Current
Current derivative liabilities	$ 0.1		$ 0.2
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration]	Liabilities, Current		Liabilities, Current
Derivative gain (loss) on derivative instrument	$ 0.1	$ (0.1)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other expense, net	Other expense, net
Derivative notional amount	$ 38		$ 25
Maximum [Member]
Derivatives, Fair Value [Line Items]
Foreign currency exchange forward contracts term	3 months
Minimum [Member]
Derivatives, Fair Value [Line Items]
Foreign currency exchange forward contracts term	1 month

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Effective tax rate on loss before income taxes	(55.00%)	(45.00%)
Statutory tax rate	21%	21%

Segment Data - Additional Infor

Segment Data - Additional Information (Details)	3 Months Ended
	Mar. 31, 2024 Segment Customer	Mar. 31, 2023 Customer
Segment Reporting Information [Line Items]
Number of operating segments | Segment	2
Revenue
Segment Reporting Information [Line Items]
Number of customers accounted for 10% or more | Customer	0	0
Geographic Concentration Rsk | Revenue | Dental
Segment Reporting Information [Line Items]
Revenue segment less than 10%	10%

Segment Data - Disclosure on Ge

Segment Data - Disclosure on Geographic Areas, Long-Lived Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	$ 52,120		$ 54,167
Third party sales	118,195	$ 120,170
U.S
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	33,933		35,444
Third party sales	67,748	69,907
Spain
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	14,354		14,431
Third party sales	15,347	15,726
Other countries
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	3,833		$ 4,292
Third party sales	$ 35,100	$ 34,537

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Amount of accrued loss contingency	$ 2.5	$ 2.6

Related Party Transactions - Su

Related Party Transactions - Summary of Corporate Allocations Reflected in the Combined Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Selling, general & administrative	$ 60,330	$ 66,973

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Feb. 01, 2023
Share-based compensation benefit	$ 3,473	$ 4,841
Zim Vie Inc
Percentage of ownership sold			19.70%

Related Party Transactions - _2

Related Party Transactions - Summary of Sale Transactions with Related Party (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Related Party Transaction [Line Items]
Related party net sales	$ 118,195	$ 120,406

Related Party Transactions - _3

Related Party Transactions - Summary of Corporate Allocations Reflected in the Condensed Consolidated Balance sheet (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Related party receivable	$ 68,931	$ 65,168
Related party payable	$ 26,955	$ 27,785

Restructuring and Other Cost _3

Restructuring and Other Cost Reduction Initiatives - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended	22 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2024
January 2024 restructuring plan [Member] | Employee Termination Benefits and Professional Fees [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 7		$ 7	$ 7
Restructuring Charges Pre-tax	2.4
April and July 2023 Restructuring Plan [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges Pre-tax			4.1
April and July 2023 Restructuring Plan [Member] | Professional Fees [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges Pre-tax		$ 1.2
June 2022 Restructuring Plan [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges Pre-tax	0.2
June 2022 Restructuring Plan [Member] | Employee Termination Benefits and Professional Fees [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 3.8		$ 3.8	3.8
Restructuring Charges Pre-tax				$ 3

Restructuring and Other Cost _4

Restructuring and Other Cost Reduction Initiatives - Schedule of Restructuring Liabilities (Details) - Restructuring Plans Member $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Beginning Balance	$ 947
Additions	2,578
Cash payments	(1,684)
Restructuring Reserve, Ending Balance	1,841
Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Beginning Balance	947
Additions	2,507
Cash payments	(1,613)
Restructuring Reserve, Ending Balance	1,841
Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Beginning Balance	0
Additions	71
Cash payments	(71)
Restructuring Reserve, Ending Balance	$ 0