Pacira BioSciences entered into a Stock and Asset Purchase Agreement to divest its handheld cryoanalgesia devices business, including iovera°, to Zimmer for up to $140 million. The deal includes a $70 million upfront payment, subject to customary adjustments, and up to $70 million in contingent payments tied to annual revenue milestones from 2027 through 2031. Approximately 66 employees, about 8% of Pacira’s workforce, are expected to join Zimmer. The transaction is subject to customary closing conditions and is expected to close in the third quarter of 2026.
Agreement details:
- Agreement type: Stock and Asset Purchase Agreement for sale of cryoanalgesia business (iovera°)
- Counterparty: Zimmer
- Signed / Effective: Jun 28 2026 / Jun 28 2026
- Reason: Refocus on core operations and monetize cryoanalgesia assets
Original SEC Filing:
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