H.I.G. Capital has agreed to acquire the spine business of ZimVie (Nasdaq: ZIMV) for $375 million, according to a news release.

H.I.G. will acquire Zimvie’s spine, motion preservation and EBI bone healing technologies.

ZimVie was formed less than two years ago when Zimmer Biomet spun out its dental and spine segments. Following the sale, ZimVie will focus solely on its dental business.

H.I.G. Capital, based in Miami, pursues a wide range of investments in healthcare and many other industries. Founded in 1993, the firm has flexibility on investment size, including interest in pre-EBITDA businesses. Within healthcare, the firm targets companies in the provider services, hospital/major facilities and life sciences/pharmaceutical industries.

The transaction is expected to close in the first half of 2024.