Nick Chong N Bnvq W18 Unsplash

Combined All-Stock Transaction Announced Between NuVasive and Globus Medical

Leading musculoskeletal solutions company Globus Medical have recently announced a decision to combine with leading spine technology innovation company NUVASIVE in an all-stock transition. This transaction will bring together two very highly regarded technology organisations within the musculoskeletal industry, and they share a vision which focuses on innovation to tackle a surfeit of un-met clinical needs, in order to improve patient care.
Within the terms of the agreements which was approved unanimously by both boards of directors in both companies, the shareholders for NuVasive will receive 0.75 of the share of Class A common stock from Globus Medical for every share of Nuvasive common stock which is owned at the closing of the transaction. Worked out based on that exchange ratio, the implied share price would be $57.72 for Nuvasive, which is an equity value of $3.1Bn, based around Globus Medical’s closing share price on Feb 8th. Following the transaction’s close, it is estimated that NuVasive shareholders would own approximately 28% of the combined company, with Globus Medical shareholders owning roughly 72%, on a fully diluted basis.

“This transaction reflects our mission to become the leading musculoskeletal technology company in the world by developing products that promote healing in patients with musculoskeletal disorders,” said Dan Scavilla, president and chief executive officer of Globus Medical. “With NuVasive, we can help support more patients through leading innovation and expanding our commercial reach to provide superior service to our surgeon and hospital partners. We look forward to combining the NuVasive and Globus Medical teams to capitalize on the many opportunities to improve patient care and create sustainable shareholder value.” “Our combination with Globus Medical is transformative, joining two companies with highly complementary capabilities, geographic footprints and customer bases,” said Chris Barry, chief executive officer of NuVasive. “Together, we will be able to offer an exceptional portfolio of clinically proven solutions, supported by strong commercial and surgeon education teams. The new company will be well-positioned to deliver value creation for shareholders, further support our surgeon partners—and most importantly, change the lives of more patients.”

Post a comment

Your email address will not be published. Required fields are marked *

Recent News

Successful completion of the inaugural shoulder arthroplasty surgeries utilizing Stryker’s Blueprint® Mixed Reality Guidance System occurred at Mayo Clinic in Minnesota and St. Joseph’s Health Care in London, Canada.

Medical Device Technologies Market is projected to increase from USD 4.20 Billion in 2022 to USD 16.32 Billion by 2030, reflecting a robust Compound Annual Growth Rate (CAGR) of 18.50% over the forecast period

Hodess Cleanroom Construction expands its cleanroom services capabilities with the acquisitions of Protocol Management Services and Clean Rooms West

Medtronic Will Invest Up to $75 Million And begin Co-Promotion For CathWorks’ FFRangio System In The U.S. Europe and Japan

Tornier Shoulder Arthroplasty Portfolio Introduced by Stryker, With New Tornier Perform Humeral System Launched in Europe