NuVasive, Inc. (NASDAQ: NUVA), a leading medical device company focused on transforming spine surgery with minimally disruptive, procedurally-integrated solutions, announced today that it has entered into a definitive agreement to acquire Mega Surgical, the exclusive distributor of NuVasive products in Brazil. The acquisition of Mega Surgical is a key milestone on the Company’s journey to transform healthcare with game-changing technologies and reinforces NuVasive’s spine leadership and global presence. The transaction is expected to close during the first quarter 2016, subject to customary closing conditions. Terms of the transaction were not disclosed.
Jason M. Hannon, Executive Vice President, International, said, “We are pleased to announce the acquisition of our international distributor, Mega Surgical, in Brazil, which will offer NuVasive direct engagement in an important international market with untapped potential. This acquisition will provide us with new growth opportunities in this key Latin American market, along with direct access to a large, growing market for accelerated share-taking in new segments, including a new opportunity to compete in Brazil’s large public healthcare market. Additionally, it will allow for direct contact with surgeons and key opinion leaders throughout the country where direct relationships are a preferred method of doing business. Together, we’ll be an even stronger company with an established presence in Brazil and resources to drive growth.”
Gregory T. Lucier, NuVasive’s Chairman and Chief Executive Officer, said, “Our acquisition of Mega Surgical in Brazil represents another step forward in expanding our direct global presence, while gaining better visibility and reducing the volatility that this important international market has had to our past financial results. As we continue our focus on driving international growth and scale, we are off to a strong start for the year in many key markets around the globe. We are gaining momentum from the plans we initiated in the second half of 2015 to refocus market penetration efforts around our competitive and highly differentiated XLIF™ and iGA™ technology platforms. Despite tougher comparisons expected in the first quarter 2016, we have a high degree of confidence in the underlying strength and expected performance of our international business for the full year 2016.”
Headquartered in Rio de Janeiro, Brazil, with a satellite office in São Paulo, Mega Surgical was founded in 1996 as an implantable medical device distribution company. It has partnered with NuVasive since 2008, and is currently the exclusive distributor of NuVasive products in Brazil.
