NUVASIVE TO ACQUIRE ELLIPSE TECHNOLOGIES (NuVasive Press Release)
Reflects NuVasive’s Focus on Transformative Spine Solutions, Reinforces Leadership Position with the Addition of Fast-Growing Complex Deformity Franchise
Expected to Accelerate the Company’s Revenue Growth and be Accretive to
Non-GAAP Diluted Earnings Per Share within First 12 Months
SAN DIEGO, CA and ALISO VIEJO, CA – January 5, 2016 – NuVasive, Inc. (NASDAQ: NUVA), a leading medical device company focused on transforming spine surgery with minimally disruptive, procedurally-integrated solutions, and Ellipse Technologies, Inc. (“Ellipse”), a privately held medical technology company focused on revolutionizing procedural solutions for complex skeletal deformity, today announced that the Boards of Directors of both companies have unanimously approved a definitive agreement under which NuVasive will acquire Ellipse for a $380 million upfront cash payment and a potential $30 million milestone payable in 2017 related to the achievement of specific revenue targets. NuVasive expects the acquisition to accelerate its revenue growth toward the high-single digit range and to be slightly accretive to the Company’s non-GAAP ...
