Audubon, Pa.-based Globus Medical, a musculoskeletal solutions company, recently agreed to acquire California-based Nevro Corp., a medical device company, for $250 million.
“This transaction furthers our mission to become the preeminent musculoskeletal technology company in the world by enabling us to expand into new markets for future growth, while gaining access to world-class, differentiated technologies that can provide significant benefit in neuromodulation, enabling technologies, and future implant solutions,” Dan Scavilla, Globus Medical, president and CEO, said.
Both companies’ boards of directors have approved the deal, which is expected to close during the second quarter. Globus Medical will acquire all shares of Nevro for $5.85 per share. The transaction represents a total equity value of approximately $250 million.
“We believe our size and operational capabilities will accelerate market penetration of Nevro’s technology and bring much needed and clinically superior relief to patients suffering from chronic pain,” Scavilla said. “In addition, our scale and operational discipline will allow us to optimize Nevro’s financial performance to drive enhanced profitability and create long-term value moving ahead.”
In 2024, Globus Medical had preliminary net sales of $2.52 billion, an increase of 60.6% over the prior year on an as-reported basis. Nevro announced preliminary worldwide revenue of between $408 million and $409 million.
Kevin Thornal, Nevro’s CEO and president said, “Through Globus Medical’s capabilities, global infrastructure and other resources, we will be better positioned to achieve our full potential to become a broader and more diversified leader in the pain management space.”