NuVasive

History

2023: Globus Medical buys NuVasive for $3.1 billion

On February 9, 2023, Globus Medical announced an agreement to buy NuVasive, an American developer of implants and procedures for minimally invasive spinal surgery.

Under the terms of the contract, unanimously approved by the boards of directors of both parties, NuVasive shareholders will receive 0.75 shares of Globus Medical Class A common stock for each of their security. The total value of the transaction will be approximately $3.1 billion. After the merger is completed, NuVasive shareholders will own approximately 28% of the combined company, while 72% will go to Globus Medical securities holders.

Globus Medical bought NuVasive

Globus Medical, founded in 2003, specializes in the development of products for patients with musculoskeletal diseases. The takeover of NuVasive is expected to strengthen its position in the relevant segment. The combined structure will be able to operate in more than 50 countries around the world, and the total number of employees will exceed 5,000.

The deal is scheduled to close in mid-2023, subject to approval from shareholders of both companies and necessary regulatory approvals. The board of the combined organization will include eight directors from the board of Globus Medical and three directors from the board of NuVasive. As part of business development, it is planned to expand the range of products and enter new markets.

This deal reflects our mission to become the world's leading musculoskeletal technology company. With the acquisition of NuVasive, we will be able to help more patients through innovation and expanding our commercial activities, "said Dan Scavilla, President and CEO of Globus Medical.[1]

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