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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.”

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