Globus Medical promotes new COO from within

Keith Pfeil. [Image courtesy of Globus Medical]Globus Medical (NYSE: GMED) + announced that it promoted CFO Keith Pfeil to the position of chief operating officer (COO).

Pfeil first took over the CFO post in August 2019. Globus Medical hopes his new expanded role can help further drive its strategic roadmap through business and operational planning in addition to financial performance management.

He continues reporting to Globus President and CEO Dan Scavilla.

“I am excited to take on the role of COO in addition to my current role of CFO, as Globus continues to build on the momentum we have created to transform our industry and help change more patient lives around the globe,” said Pfeil. “I look forward to continuing to work with our board of directors, Dan and the executive leadership team to further realize our growth potential.”

His responsibilities include overseeing all day-to-d…

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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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