Globus Medical has announced its merger with San Diego-based NuVasive, Inc. in an all-stock deal valued at $3.1 billion.
Following the close of the transaction, Globus Medical shareholders will own about 72% of the combined company and NuVasive shareholders will own the remaining 28%. NuVasive will allow Globus to support more patients and expand its commercial reach in the $50 billion global musculoskeletal market.
The combined company will have an 11-member board composed of all eight directors from Globus Medical’s board and three directors from NuVasive’s board. The deal is expected to be completed by mid-2023.
NuVasive is a medical device company based in San Diego. The company primarily develops medical devices and procedures for minimally invasive spine surgery. NuVasive’s products include software systems for surgical planning and monitoring, access instruments and implantable hardware. NuVasive reported full year 2021 net sales of approximately $1.14 billion.
Globus Medical is a medical device company headquartered in Audubon, Pennsylvania. The company designs, develops and commercializes musculoskeletal implants. Globus Medical’s revenue for the 12 months ending September 30, 2022, was $998 million.
According to data captured in the LevinPro HC database, this acquisition represents the 20th Medical Devices deal of 2023. There were 16 Medical Devices transactions announced between January 1, 2022, and February 10, 2022.
