Globus Medical acquires local manufacturer for $53M

Globus Medical Announces the Acquisition of Branch Medical Group, Inc. (press release)
Globus Medical website        Branch Medical Group website 

AUDUBON, Pa.--(BUSINESS WIRE)--Globus Medical, Inc. (NYSE: GMED), a leading musculoskeletal implant manufacturer, today announced that it has entered into an agreement to acquire Branch Medical Group, Inc. (“BMG”), a third party manufacturer of high precision medical devices. Under the terms of the agreement Globus has agreed to pay $52.9 million in cash, subject to certain closing adjustments, for BMG on a cash-free, debt-free basis.

“BMG has gro...