NuVasive picks up neuro monitoring provider Biotronic NeuroNetwork for $98m

NuVasive Inc. (NSDQ:NUVA) said yesterday it bought intraoperative neurophysiological monitoring service provider Biotronic NeuroNetwork for $98 million in cash. Biotronic NeuroNetwork provides neurophysiological monitoring services to surgeons and healthcare facilities in the U.S., as well as remote physician oversight. The company supports more than 45,000 surgeries annually at more than 650 hospitals, NuVasive said. “We are extremely excited about this combination, as it more than doubles NuVasive’s neurophysiology footprint, creating an at-scale services business with improved growth and operational benefits. The addition of Biotronic enhances our service offerings and provides enormous potential to deliver greater integration across our procedurally-integrated portfolio, which uniquely differentiates NuVasive in the markets we serve. We believe NuVasive is better positioned than ever to build off the strong foundation established in early 2015 when we aligned our U.S. field personnel to form a combined sales and services organization, including the integration of the company’s neurophysiology services offering. This pivotal integration, in combination with the greater operational discipline instilled into our services business over the last year, is now delivering strong results, including a nearly 25 percent year-over-year increase in our NVM5 disposables business in the first quarter of 2016. We remain evermore committed to growing our spine service line part...
Source: Mass Device - Category: Medical Equipment Authors: Tags: Business/Financial News Mergers & Acquisitions Neurological Patient Monitoring Nuvasive Source Type: news