NuVasive, Inc., has announced it has agreed to acquire Biotronic NeuroNetwork for $98 million cash. According to the press release, the acquisition more than doubles NuVasive’s footprint in the neurophysiology business across the U.S., and extends NuVasive’s efforts to expand its spine service line partnerships in the industry.
Biotronic provides intraoperative neurophysiological monitoring services to surgeons and healthcare facilities nationwide. According to the press release, Biotronic supports more than 45,000 surgeries annually in over 650 hospitals nationwide by providing certified specialists to monitor patients’ nervous systems during surgery. Biotronic reported over $50 million in revenue in 2015. NuVasive also provides intraoperative neurophysiological monitoring services to surgeons and healthcare facilities through its subsidiary, Impulse Monitoring, Inc. With the acquisition, NuVasive plans to combine the service offerings of Biotronic with Impulse Monitoring to create NuVasive Clinical Services. NuVasive Clinical Services is expected to support more than 75,000 cases annually in the United States, and will be headed by Doug Karczewski, who has led NuVasive’s Eastern U.S. Commercial organization for the last three years.
This news follows NuVasive’s recent acquisition of Ellipse Technologies, Inc., in January of this year for $380 million cash, with a possible $30 million milestone payment in 2017. Ellipse developed and marketed a novel platform of adjustable spinal implant systems based on its MAGnetic External Control, or MAGEC®, technology. The MAGEC® technology allows physicians to customize therapy for patients in a noninvasive manner, using a remote controller to lengthen or shorten an implanted spinal rod.
According to its website, NuVasive is the third largest medical device company in the global spine industry and features more than 90 products spanning lumbar, thoracic, and cervical applications, neuromonitoring services, and a biologics portfolio.