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Amid ongoing restructuring in the healthcare sector, Pacira BioSciences has agreed to sell its iovera° business to Zimmer Biomet in a deal worth up to $140 million, according to media reports. Pacira will receive $70 million upfront and up to an additional $70 million in future revenue-based milestone payments. The two companies will also collaborate on advancing a spasticity program, though further terms of the collaboration were not disclosed.
The divestiture comes as Pacira focuses on its core business, with iovera° considered a non-strategic asset. Zimmer Biomet, a leader in orthopedic medical devices, could leverage iovera° to expand into the pain management market. Neither company has provided additional details on the exact deal value or revenue projections, but the milestone payments could enhance total returns.
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Sign InThe transaction is expected to close in the coming months, subject to customary regulatory approvals. Pacira may use the proceeds to strengthen its balance sheet or fund R&D programs, including the spasticity initiative. Attention remains on how this move will impact the stock performance post-closure, especially with limited details on the timeline for future milestone payments.