Zimmer Biomet Acquires iovera° Business from Pacira for Up to $140M
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 30 2026
0mins
Zimmer Biomet's stock has dropped significantly, hitting a 5-day low amid broader market gains. The company has agreed to acquire the iovera° business from Pacira BioSciences for up to $140 million, which includes a $70 million upfront payment and additional milestone payments. This acquisition is expected to enhance Zimmer Biomet's portfolio in pain management with the innovative, FDA-cleared iovera° device, which utilizes cryoneurolysis to relieve pain. The deal is set to close in the third quarter of 2026, marking a strategic move for both companies.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy ZBH?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on ZBH
Wall Street analysts forecast ZBH stock price to rise
18 Analyst Rating
4 Buy
11 Hold
3 Sell
Hold
Current: 89.760
Low
88.00
Averages
100.47
High
120.00
Current: 89.760
Low
88.00
Averages
100.47
High
120.00
About ZBH
Zimmer Biomet Holdings, Inc. is a global medical technology company. It designs, manufactures and markets orthopedic reconstructive products; sports medicine, biologics, extremities and trauma products; CMFT; surgical products; and a suite of integrated digital and robotic technologies that leverage data, data analytics and artificial intelligence. Its segments include Americas, EMEA, and Asia Pacific. Its products and solutions help treat patients suffering from disorders of, or injuries to, bones, joints or supporting soft tissues. Its knee brands include the Persona Knee, NexGen Knee Implants, Vanguard Knee and Oxford Partial Knee. Its hip brands include the Taperloc Hip System, Avenir Complete Hip System, Arcos Modular Hip System and G7 Acetabular System. It also focused on a suite of orthopedic robotics, enabling solutions and analytics to address the needs of surgeons pre-, intra- and post-operatively. Its portfolio features imageless robotics through its ROSA Robotics platform.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Semiconductor Stocks Surge; Watts Water Upgraded
- Semiconductor ETF Performance: The VanEck Semiconductor ETF (SMH) is on track for a 70% surge in Q2, driving chip stocks higher, with Astera Labs up 7%, KLA Corp up 8%, and Applied Materials up 5%, indicating strong market confidence in the semiconductor sector.
- Watts Water Upgrade: Watts Water Technologies jumped over 7% after Barclays upgraded its rating to overweight, as the company is seen as best positioned to benefit from the data center capital expenditures cycle with its expanding portfolio in waste and water technology.
- Abivax Stock Surge: U.S.-traded shares of French biotech company Abivax soared 40% after releasing new data on its ulcerative colitis treatment, showing malignancy rates in line with expectations and over 37% of initially non-responsive patients achieving clinical remission after about 10 months, highlighting treatment efficacy.
- Air Products Project Cancellation: Air Products and Chemicals rose over 8% after announcing it would not proceed with its Louisiana Clean Energy Complex, which is expected to incur up to $2.9 billion in pretax charges, reflecting the company's stringent financial return criteria.
See More
Pacira BioSciences Divests iovera° Business to Zimmer Biomet for Up to $140M
- Transaction Value: Pacira BioSciences is divesting its iovera° business to Zimmer Biomet for up to $140 million, including a $70 million upfront payment and additional revenue-based milestone payments, reflecting the market value and future potential of the business.
- Technology Overview: iovera° is an innovative, FDA-cleared, drug-free medical device that relieves pain through cryoneurolysis, applying focused cold therapy to a targeted nerve to temporarily interrupt its ability to transmit pain signals, highlighting its uniqueness in pain management.
- Use of Proceeds: Pacira plans to use the proceeds from this transaction to strengthen its balance sheet, indicating a strategic intent to optimize financial structure and enhance future investment capabilities.
- Closing Timeline: The transaction is slated to close in Q3, marking a significant step in Pacira's business restructuring and strategic focus, potentially laying the groundwork for its subsequent development.
See More
Pacira Divests iovera Business to Zimmer Biomet for Up to $140 Million
- Transaction Amount and Structure: Pacira BioSciences has agreed to divest its iovera business to Zimmer Biomet for up to $140 million, which includes a $70 million upfront payment and an additional $70 million in milestone payments through December 31, 2031, reflecting confidence in future revenue potential from both parties.
- Timeline for Completion: The transaction is expected to close in the third quarter of 2026, providing ample time for both companies to integrate resources and plan for subsequent business developments.
- Strategic Collaboration Outlook: The companies will also collaborate on advancing the spasticity program, with Pacira eligible for additional compensation upon successful completion of the registrational study and regulatory approval, which not only strengthens their partnership but also provides Pacira with a potential revenue stream.
- Financial Impact: Pacira intends to use the net proceeds from this transaction to strengthen its balance sheet, including repaying its senior secured revolving credit facility, a move that will help improve the company's financial health.
See More
Multiple Companies Declare Quarterly Dividends
- Silvercorp Dividend Announcement: Silvercorp Metals declared a semi-annual dividend of $0.0125 per share, payable on or before June 25, 2026, aimed at enhancing shareholder returns and attracting more investor interest.
- Bentley Dividend Declaration: Bentley Systems announced a $0.07 per share cash dividend for Q2 2026, payable to all shareholders of record as of June 2, 2026, reflecting the company's ongoing profitability and commitment to its shareholders.
- TriCo Bancshares Dividend: TriCo Bancshares declared a quarterly cash dividend of $0.36 per share, marking the 147th consecutive dividend payment, showcasing its stable financial performance and long-term commitment to shareholders.
- PHINIA Dividend Announcement: PHINIA declared a quarterly cash dividend of $0.30 per common share, payable on June 23, 2026, to shareholders of record as of June 9, 2026, aimed at enhancing investor confidence through stable cash flows and supporting future growth.
See More
Zimmer Biomet Declares Quarterly Dividend and Increases Buyback Target
- Quarterly Dividend Declaration: Zimmer Biomet has declared a quarterly dividend of $0.24 per share, consistent with previous distributions, payable on July 31, which underscores the company's stable cash flow and commitment to shareholder returns.
- Dividend Yield: The forward yield of 1.12% reflects the company's attractiveness in the current market environment, potentially drawing in more investors seeking stable income.
- Increased Buyback Target: Zimmer Biomet has raised its share repurchase target to up to $1 billion, expected to be completed by year-end, a move aimed at enhancing earnings per share and shareholder value while signaling confidence in future growth.
- Upgraded Earnings Outlook: The company has adjusted its 2026 adjusted EPS forecast to $8.40-$8.55 and plans to hire over 200 robotics clinical personnel by the end of 2027, indicating its strategic focus on expansion and innovation in the medical technology sector.
See More
Zimmer Biomet Announces Quarterly Cash Dividend
- Quarterly Cash Dividend: Zimmer Biomet's Board of Directors has approved a cash dividend of $0.24 per share for Q2 2026, payable on or about July 31, 2026, reflecting the company's commitment to returning value to shareholders.
- Record Date for Shareholders: The record date for this dividend is June 25, 2026, ensuring that investors holding shares by this date will receive the dividend, which enhances investor confidence in holding the stock.
- Company Background: Zimmer Biomet is a global leader in medical technology with over 90 years of industry experience, dedicated to enhancing patient experiences through innovative products and digital technologies, further solidifying its market position.
- Global Business Reach: The company operates in over 25 countries and sells products in more than 100 countries, showcasing its strong global market influence and potential for continued growth.
See More
Semiconductor Stocks Surge; Watts Water Upgraded
- Semiconductor ETF Performance: The VanEck Semiconductor ETF (SMH) is on track for a 70% surge in Q2, driving chip stocks higher, with Astera Labs up 7%, KLA Corp up 8%, and Applied Materials up 5%, indicating strong market confidence in the semiconductor sector.
- Watts Water Upgrade: Watts Water Technologies jumped over 7% after Barclays upgraded its rating to overweight, as the company is seen as best positioned to benefit from the data center capital expenditures cycle with its expanding portfolio in waste and water technology.
- Abivax Stock Surge: U.S.-traded shares of French biotech company Abivax soared 40% after releasing new data on its ulcerative colitis treatment, showing malignancy rates in line with expectations and over 37% of initially non-responsive patients achieving clinical remission after about 10 months, highlighting treatment efficacy.
- Air Products Project Cancellation: Air Products and Chemicals rose over 8% after announcing it would not proceed with its Louisiana Clean Energy Complex, which is expected to incur up to $2.9 billion in pretax charges, reflecting the company's stringent financial return criteria.
See More
Pacira BioSciences Divests iovera° Business to Zimmer Biomet for Up to $140M
- Transaction Value: Pacira BioSciences is divesting its iovera° business to Zimmer Biomet for up to $140 million, including a $70 million upfront payment and additional revenue-based milestone payments, reflecting the market value and future potential of the business.
- Technology Overview: iovera° is an innovative, FDA-cleared, drug-free medical device that relieves pain through cryoneurolysis, applying focused cold therapy to a targeted nerve to temporarily interrupt its ability to transmit pain signals, highlighting its uniqueness in pain management.
- Use of Proceeds: Pacira plans to use the proceeds from this transaction to strengthen its balance sheet, indicating a strategic intent to optimize financial structure and enhance future investment capabilities.
- Closing Timeline: The transaction is slated to close in Q3, marking a significant step in Pacira's business restructuring and strategic focus, potentially laying the groundwork for its subsequent development.
See More
Pacira Divests iovera Business to Zimmer Biomet for Up to $140 Million
- Transaction Amount and Structure: Pacira BioSciences has agreed to divest its iovera business to Zimmer Biomet for up to $140 million, which includes a $70 million upfront payment and an additional $70 million in milestone payments through December 31, 2031, reflecting confidence in future revenue potential from both parties.
- Timeline for Completion: The transaction is expected to close in the third quarter of 2026, providing ample time for both companies to integrate resources and plan for subsequent business developments.
- Strategic Collaboration Outlook: The companies will also collaborate on advancing the spasticity program, with Pacira eligible for additional compensation upon successful completion of the registrational study and regulatory approval, which not only strengthens their partnership but also provides Pacira with a potential revenue stream.
- Financial Impact: Pacira intends to use the net proceeds from this transaction to strengthen its balance sheet, including repaying its senior secured revolving credit facility, a move that will help improve the company's financial health.
See More
Multiple Companies Declare Quarterly Dividends
- Silvercorp Dividend Announcement: Silvercorp Metals declared a semi-annual dividend of $0.0125 per share, payable on or before June 25, 2026, aimed at enhancing shareholder returns and attracting more investor interest.
- Bentley Dividend Declaration: Bentley Systems announced a $0.07 per share cash dividend for Q2 2026, payable to all shareholders of record as of June 2, 2026, reflecting the company's ongoing profitability and commitment to its shareholders.
- TriCo Bancshares Dividend: TriCo Bancshares declared a quarterly cash dividend of $0.36 per share, marking the 147th consecutive dividend payment, showcasing its stable financial performance and long-term commitment to shareholders.
- PHINIA Dividend Announcement: PHINIA declared a quarterly cash dividend of $0.30 per common share, payable on June 23, 2026, to shareholders of record as of June 9, 2026, aimed at enhancing investor confidence through stable cash flows and supporting future growth.
See More
Zimmer Biomet Declares Quarterly Dividend and Increases Buyback Target
- Quarterly Dividend Declaration: Zimmer Biomet has declared a quarterly dividend of $0.24 per share, consistent with previous distributions, payable on July 31, which underscores the company's stable cash flow and commitment to shareholder returns.
- Dividend Yield: The forward yield of 1.12% reflects the company's attractiveness in the current market environment, potentially drawing in more investors seeking stable income.
- Increased Buyback Target: Zimmer Biomet has raised its share repurchase target to up to $1 billion, expected to be completed by year-end, a move aimed at enhancing earnings per share and shareholder value while signaling confidence in future growth.
- Upgraded Earnings Outlook: The company has adjusted its 2026 adjusted EPS forecast to $8.40-$8.55 and plans to hire over 200 robotics clinical personnel by the end of 2027, indicating its strategic focus on expansion and innovation in the medical technology sector.
See More
Zimmer Biomet Announces Quarterly Cash Dividend
- Quarterly Cash Dividend: Zimmer Biomet's Board of Directors has approved a cash dividend of $0.24 per share for Q2 2026, payable on or about July 31, 2026, reflecting the company's commitment to returning value to shareholders.
- Record Date for Shareholders: The record date for this dividend is June 25, 2026, ensuring that investors holding shares by this date will receive the dividend, which enhances investor confidence in holding the stock.
- Company Background: Zimmer Biomet is a global leader in medical technology with over 90 years of industry experience, dedicated to enhancing patient experiences through innovative products and digital technologies, further solidifying its market position.
- Global Business Reach: The company operates in over 25 countries and sells products in more than 100 countries, showcasing its strong global market influence and potential for continued growth.
See More
