Globus Medical To Acquire Nevro For $250 Mln

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(RTTNews) - Globus Medical (GMED), a musculoskeletal solutions company, Thursday agreed to acquire Nevro Corp. (NVRO), a medical device company, in an all-cash transaction.

Under the terms of the agreement, which was unanimously approved by the boards of directors of both companies, Globus Medical will acquire all shares of Nevro for $5.85 per share. The transaction represents a total equity value of approximately $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. 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," said Dan Scavilla, President and CEO of Globus Medical. "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."

The $5.85 per share consideration represents a 27% premium to the 90-day volume-weighted average price of $4.61, a 38% premium to the 30-day VWAP of $4.23, and a 17% premium to Nevro's closing market price on February 5, 2025.

The transaction is expected to close late in the second quarter of 2025, subject to the approval of Nevro's shareholders, regulatory approval, and other customary closing conditions.