NuVasive entered into a definitive agreement to acquire Biotronic NeuroNetwork for $98 million in cash.
Here are six things to know:
1. Biotronic is a provider of intraoperative neurophysiological monitoring services. The company provides real-time remote monitoring through proprietary software and a secure, virtual network.
2. The acquisition aims to enhance NuVasive's spine service line offerings through improved surgical monitoring and oversight capabilities.
3. Following the close of the transaction, NuVasive plans to combine the service offerings of Biotronic with its subsidiary, Impulse Monitoring, to create NuVasive Clinical Services.
4. Both companies' board of directors have unanimously approved the transaction.
5. NuVasive expects the transaction to be immediately accretive to its non-GAAP earnings-per-share in 2016 and significantly accretive in 2017 and beyond.
6. The transaction is expected to close in July 2016, subject to customary closing conditions.