Brief: Globus Medical And NuVasive Will Combine To Create Musculoskeletal Company

Globus Medical

09/02/2023 12:31

Feb 9 (Reuters) - Globus Medical Inc  GMED.N :
    * GLOBUS MEDICAL AND NUVASIVE TO COMBINE IN ALL-STOCK
TRANSACTION
TO CREATE INNOVATIVE GLOBAL MUSCULOSKELETAL COMPANY FOCUSED ON
PATIENT CARE
    * GLOBUS MEDICAL INC - ANNOUNCED THEY HAVE ENTERED INTO A
DEFINITIVE AGREEMENT TO COMBINE IN AN ALL-STOCK TRANSACTION
    * GLOBUS MEDICAL - NUVASIVE SHAREHOLDERS WILL RECEIVE 0.75
OF A
SHARE OF GLOBUS MEDICAL CLASS A COMMON STOCK FOR EACH SHARE OF
NUVASIVE COMMON STOCK OWNED
    * GLOBUS MEDICAL INC - PROPOSED DEAL FOR EQUITY VALUE OF
$3.1
BILLION
    * GLOBUS MEDICAL INC - NUVASIVE SHAREHOLDERS WILL OWN
APPROXIMATELY 28% OF COMBINED COMPANY
    * GLOBUS MEDICAL INC - GLOBUS MEDICAL EXPECTS 2023 NET SALES
GROWTH OF 7%ꟷ8% CONSTANT CURRENCY, AS COMPARED TO FULL YEAR 2022
    * GLOBUS MEDICAL INC - NUVASIVE EXPECTS 2023 NET SALES
GROWTH OF
6%ꟷ8% CONSTANT CURRENCY, AS COMPARED TO FULL YEAR 2022.
    * GLOBUS MEDICAL INC - COMBINED CO WILL HAVE AN 11-MEMBER
BOARD
COMPOSED OF ALL 8 DIRECTORS FROM CO'S BOARD AND 3 DIRECTORS FROM
NUVASIVE'S BOARD
    * GLOBUS MEDICAL INC - DAVID PAUL, CHAIRMAN OF GLOBUS
MEDICAL
BOARD OF DIRECTORS, WILL SERVE AS CHAIRMAN OF COMBINED COMPANY'S
BOARD OF DIRECTORS
    * GLOBUS MEDICAL INC - DAN SCAVILLA WILL SERVE AS CHIEF
EXECUTIVE
OFFICER AND AS A MEMBER OF BOARD OF COMBINED CO
    * GLOBUS MEDICAL INC - KEITH PFEIL, CHIEF FINANCIAL OFFICER
OF
GLOBUS MEDICAL, WILL SERVE AS CHIEF FINANCIAL OFFICER OF
COMBINED COMPANY
    * GLOBUS MEDICAL INC - CHRIS BARRY, CHIEF EXECUTIVE OFFICER
OF
NUVASIVE, WILL SUPPORT INTEGRATION PLANNING OF COMBINED COMPANY
    * GLOBUS MEDICAL INC - GLOBUS MEDICAL ANNOUNCES PRELIMINARY
2022
NET SALES GROWTH OF 6.8% AS REPORTED, 8.2% CONSTANT CURRENCY
    * GLOBUS MEDICAL INC - NUVASIVE ANNOUNCES PRELIMINARY 2022
NET
SALES GROWTH OF 5.5% AS REPORTED, 8.5% CONSTANT CURRENCY
    * GLOBUS MEDICAL INC - NUVASIVE ANNOUNCES PRELIMINARY 2022
NET
SALES GROWTH OF 5.5% AS REPORTED, 8.5% CONSTANT CURRENCY

Source text for Eikon:  ID:nPnbZkW0Wa 
Further company coverage:  GMED.N