Shareholders approve NuVasive, Globus Medical merger

Spinal Tech

It's official. Shareholders with NuVasive and Globus Medical have voted in favor of their proposed merger, the devicemakers said April 27.

The union has garnered the support of independent proxy advisory firms including Glass Lewis and International Shareholder Services

News of the merger, which values NuVasive at $3.1 billion, broke in February. Globus Medical and NuVasive have a strong foothold in spine medtech, and both saw more than $1 billion in 2022 revenues.

"We look forward to closing the transaction and realizing the significant benefits created by joining our more than 5,000 employees, geographic footprints, highly complementary innovations, customer bases and leading portfolios," NuVasive CEO Chris Barry said in a news release.

"Globus Medical shareholders showed an overwhelming level of support for this merger," Globus Medical President and CEO Dan Scavilla said in a news release."Our combined company will have one of the most comprehensive offerings of musculoskeletal solutions and enabling technologies to help surgeons treat their patients."

The merger is slated to close after clearance from regulatory authorities.

Note: This article was updated April 28 to include information from Globus Medical.

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