NuVasive (NSDQ:NUVA) yesterday announced that it has acquired Simplify Medical for $150 million.
Through the deal, NuVasive made an upfront payment of $150 million at closing using cash on hand, subject to customary purchase price adjustments. The company agreed to make additional future payments contingent upon milestones related to regulatory approval and net sales.
Simplify Medical develops the Simplify Cervical Artificial Disc for cervical total disc replacement (cTDR). The acquisition adds the cTDR technology to NuVasive’s cervical portfolio to address all key segments of the cervical spine.
The disc is anatomically designed and includes 4, 5 and 6 mm options. It has unique articulation to allow for a variable center of rotation for each treated level and is designed to mimic the motion dynamics of a natural spine segment.
“The acquisition of Simplify Medical advances our previously communicated long-term growth strategy by both expandi…