Globus Medical, NuVasive to merge to form global musculoskeletal company

Globus Medical (NYSE:GMED) and NuVasive (Nasdaq:NUVA) today announced an agreement to combine in an all-stock transaction.

The two musculoskeletal technology companies share a vision focused on improving patient care, according to a news release.

Under the terms of the agreement — which both companies’ boards unanimously approved — NuVasive shareholders receive 0.75 of a share of Globus Class A common stock for each share of NuVasive common stock owned at closing. Based on the exchange ratio, the implied share price for NuVasive totals $57.72. That amounts to an equity value of $3.1 billion.

Following the closing of the transaction, 28% of ownership goes to NuVasive shareholders. Meanwhile, the remaining 72% belongs to Globus shareholders on a fully diluted basis.

NuVasive CEO Chris Barry said the companies share “complementary capabilities, geographic footprints and customer bases.”

“This transaction reflects our mi…

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