Globus Medical's Strategic Acquisition to Transform Pain Treatment
Globus Medical Completes Nevro Corp Acquisition
Globus Medical, Inc. (NYSE: GMED), a prominent player in musculoskeletal technology, has officially wrapped up its acquisition of Nevro Corp., a pioneering medical device firm known for its innovative solutions aimed at alleviating chronic pain. This strategic acquisition marks a significant milestone for both companies, enhancing their capabilities in the medical technology landscape.
Dan Scavilla, the president and CEO of Globus Medical, expressed enthusiasm for this new chapter, stating, “We are excited to begin the journey of accelerating market penetration of Nevro’s differentiated high-frequency technology and bringing a much-needed treatment option to patients suffering from chronic pain.” His anticipation reflects the immense potential this merger holds for improving patient outcomes.
Unlocking Market Potential
The acquisition of Nevro opens doors for Globus Medical to expand its footprint in the musculoskeletal market, presenting an opportunity to tap into a $2.5 billion market. This strategic move not only bolsters Globus Medical’s product offerings but positions the company to redefine the standard of care in the neuromodulation sector and beyond. It signals a transformative shift in how chronic pain is addressed and treated.
With Nevro’s high-frequency technology, Globus Medical aims to introduce a new paradigm in pain management. The collaboration aims to enhance the quality of life for countless individuals battling chronic pain, thereby establishing Globus Medical as a leader in innovation within this vital sector.
Looking Ahead
In the coming weeks, Globus Medical is primed to highlight the highlights of the acquisition along with the prospective benefits of an expanded product suite during its earnings conference. This announcement is anticipated to detail how the integration of Nevro’s technology will empower Globus Medical to better serve its patients and healthcare providers.
Moreover, Nevro Corp. has ceased trading on the New York Stock Exchange, an indication of the transition into this new alliance with Globus Medical. Stakeholders and interested parties can find detailed information regarding the transaction in the Form 8-Ks recently filed with the SEC.
Financial and Legal Partnership
To facilitate this strategic acquisition, Globus Medical enlisted the expertise of Morgan Stanley & Co. LLC as their financial advisor, with Wyrick Robbins Yates & Ponton LLP serving as legal counsel. Similarly, Nevro secured the guidance of BofA Securities, Inc. as a financial advisor, assisted by the legal team at Latham & Watkins LLP. This robust advisory framework contributes to a seamless transition and integration process.
About Globus Medical, Inc.
Globus Medical is committed to addressing unmet clinical needs in the musculoskeletal space, dedicated to innovating solutions that change lives. The company prides itself on providing world-class education, clinical support, and advancing care across various domains, including spine, orthopedic trauma, joint reconstruction, and biomaterials. Their commitment to excellence ensures that they remain at the forefront of technology in the medical field.
About Nevro Corp.
Nevro Corp. has been at the cutting edge of solutions for chronic pain, offering life-changing alternatives through its HFX™ spinal cord stimulation platform. Their innovative technology, particularly the Senza SCS system, emphasizes enduring patient outcomes and broadens the spectrum of minimally invasive treatments available for chronic pain, including options for patients suffering from diabetic neuropathy.
Investor and Media Contacts
For further inquiries, investors can reach out to Brian Kearns at 610-930-1800 or via email at investors@globusmedical.com. Media inquiries can be directed to Moran Chavez at media@globusmedical.com.
Frequently Asked Questions
What is the significance of Globus Medical acquiring Nevro Corp.?
This acquisition expands Globus Medical's capabilities in addressing chronic pain solutions, unlocking a significant market potential.
How will this acquisition benefit patients?
The merger will enhance treatment options, allowing for innovative therapies to improve patient outcomes in chronic pain management.
What products are expected from the partnership?
Globus Medical anticipates introducing products that leverage Nevro's high-frequency technology, potentially revolutionizing pain management.
When will more details about the acquisition be shared?
Globus Medical will discuss the transaction and its benefits during their upcoming first-quarter earnings conference.
Who acted as advisers during this acquisition?
Morgan Stanley and Wyrick Robbins served Globus Medical, while Nevro Corp. engaged BofA Securities and Latham & Watkins.
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