Feb. 13, 2023 – Globus Medical (Audubon, PA) has signed an agreement to acquire Nuvasive in an all-stock transaction valued at around $3.1 billion.
According to the terms of the deal, shareholders of NuVasive, a spine technology firm, will secure 0.75 of a share of musculoskeletal solutions company Globus Medical Class-A common stock for each owned share of NuVasive common stock after the closure of the transaction.
Upon completion of the deal, Globus Medical shareholders will hold a stake of around 72% in the combined company while NuVasive shareholders will own the remaining 28% interest.
With more than 5,000 employees, the entities will now share operations in over 50 countries. Once the deal concludes, the combined firm will consist of an 11-member board, including eight directors from Globus Medical’s board and three directors from NuVasive’s board.
The deal is expected to be completed in the middle of the year.