Globus Medical Announces the Acquisition of Branch Medical Group, Inc. (press release)
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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 grown to be our top supplier by consistently producing our most complex parts in a highly efficient manner. The close working relationship we have enjoyed over the years has enabled us to work together to get products to the market quickly”
“We are very excited by the vertical integration opportunity afforded by BMG to strengthen Globus, both operationally and financially. BMG is an extremely efficient organization; driven by their 'Right, On Time' credo to produce high quality, precision medical devices,” said Dave Demski, President & COO of Globus. “The potential to expand the amount of pr...
