NuVasive Inc. (NSDQ:NUVA) said today that it closed the $98 million acquisition of intraoperative neurophysiological monitoring service provider Biotronic NeuroNetwork.
Ann Arbor, Mich.-based 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 very excited to announce the completion of the Biotronic acquisition, as it advances NuVasive’s strategy to transform how spine procedures are approached, measured and valued from a clinical and economic perspective. We are confident that Biotronic, together with our existing Impulse Monitoring business, will enable our newly formed NuVasive clinical services division to further deliver our spine service line partnerships and create the standard of care utilizing the NuVasive’s procedurally-integrated offerings,” chairman & CEO Gregory Lucier said in prepared remarks.
NuVasive announced the deal last month.