Globus Medical to buy NuVasive in $3.1B deal

Spinal Tech

Globus Medical is buying spine devicemaker NuVasive, valuing it at $3.1 billion.

NuVasive will be purchased in an all-stock transaction that is expected to close in the middle of 2023, Globus Medical said in a Feb. 8 news release. NuVasive shareholders will own about 28 percent of the combined company.

The deal unites Globus Medical and NuVasive's flagship spine technologies. Globus Medical is known for its ExcelsiusGPS navigation robot and Excelsius3D imaging system. In November, the company's CEO, Dan Scavilla, said Globus Medical plans to grow the platform and lean into artificial intelligence.

NuVasive has Pulse, an integrated spine system that was launched in 2021. NuVasive CEO Chris Barry said in May 2022 that the platform surpassed 500 cases and that robotics will be a "key application" in the future.

Together, the combined company will have a presence in more than 50 countries with more than 5,000 employees, Globus Medical said. The merger gives Globus Medical and NuVasive an increased global scale and boosted portfolios.

Mr. Scavilla will be CEO of the combined company, and the company's board chair will oversee an 11-member board including three NuVasive representatives.

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