ZimVie Inc. has announced its second-quarter 2022 financial results, according to a company press release.
ZimVie reported net sales of $233.4 million during the second quarter of 2022, an 11.5% decrease from the prior year period. The company also reported a net loss of $8.7 million, “due to the net sales decline in the spine business, partially offset by an income tax benefit from non-taxable profits on pre-spin inventory transactions with Zimmer Biomet,” according to the release.
“We continue to make progress toward our most vital commercial initiatives in both our dental and spine segments,” Vafa Jamali, president and CEO of ZimVie, said in the release. “Within spine, we received a major positive insurance policy decision from Anthem Blue Cross Blue Shield for The Tether, a device for treatment of pediatric scoliosis, expanding insurance coverage for up to 30 million lives. We are also tracking to our plan to improve the short- and long-term operational efficiency of our newly independent company,” Jamali added.