- NuVasive (NASDAQ:NUVA) acquires privately held Ellipse Technologies for $380M cash upfront and a potential $30M milestone payable in 2017 related to specific revenue targets. NUVA expects the transaction to accelerate its top line growth in the high-single-digit range and be slightly accretive to its non-GAAP EPS in the first year and significantly accretive thereafter.
- Ellipse develops devices used in orthopedic surgery. Its PRECICE device is an intramedullary nail used to lengthen the femur and tibia and MAGEC is a spinal bracing and distraction system.
- NuVasive will host a conference call today at 5:00 pm ET to discuss the deal.