NuVasive Buys Biotronic for $98M

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NuVasive Buys Biotronic for $98M

From Amirah Al Idrus/FierceMedicalDevices:

“Spine specialist NuVasive ($NUVA) bolstered its product lineup when it acquired Ellipse in January. Now, the San Diego-based company is looking toward increasing its value-based healthcare offerings with the $98 million acquisition of Biotronic NeuroNetwork, which monitors patients’ nervous systems during surgery.

Biotronic provides real-time, remote monitoring of patients’ neurophysiology to more than 650 hospitals and supports more than 45,000 surgeries each year. Privately traded, it posted more than $50 million in revenue in 2015, according to a statement announcing the deal. NuVasive expects the acquisition to be immediately accretive in 2016 and significantly so in 2017 and beyond. The transaction is expected to close in early July 2016, subject to customary closing conditions. NuVasive expects to fund the acquisition with existing cash on hand.” Full article

Additional coverage: The San Diego Union-Tribune, NuVasive press release

June 7th, 2016|