San Diego spine surgery firm NuVasive acquired by rival Globus Medical in $3.1B deal [Breaking]
Long-time San Diego spine surgery technology company NuVasive is being acquired by rival Globus Medical in an all-stock deal valued at $3.1 billion.
Globus Medical expects to maintain NuVasive’s operations in San Diego, Memphis, Tenn., and near Dayton, Ohio, said Dan Scavilla, chief executive of Globus Medical. “The fact that we’re primarily spine companies and other acquisitions may have been adjacencies, I think does put us in a strong spot,” said Scavilla.
The deal is expected to close later this year. At that time, NuVasive shareholders would own 28 percent of the combined companies, with Globus Medical shareholders having a 72 percent stake.
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