NuVasive (NSDQ:NUVA) closed its $80 million pickup of Impulse Monitoring Inc. last week, according to a filing with the federal Securities & Exchange Commission.
The deal, which closed Oct. 7, saw IMI’s shareholders receive nearly $40.5 million in cash and more than 2.3 million shares of NuVasive common stock with an aggregate value of about $40.5 million (per NUVA’s Oct. 6 closing share price of $17.32).
NuVasive “paid $10 million of the merger consideration in cash into an escrow fund to satisfy any indemnification claims made by the company,” according to the filing, plus another $500,000 in escrow “to secure the IMI security holders’ payment obligations, if any, with respect to working capital, net debt and transaction expense adjustments” and $250,000 in escrow “to be used by the stockholders’ agent for reimbursement of any costs and expenses.”
Columbia, Md.-based Impulse provides intra-operative monitoring services to hospitals and surgical centers. The company’s neurophysiologists work as members of the surgical team to keep watch for signs of “neurological compromise and identification of functional neural structures,” according to a press release.
The company offers the service for cardiology, ear-nose-throat, brain, general orthopedic and spine procedures; the latter accounts for 80 percent of its case volume. The deal is aimed at augmenting its NeuroVision nerve monitoring system, used along with its XLIF lateral lumbar interbody fusion offering, NuVasive said when the deal was announced last month.
Here’s a roundup of companies announcing mergers, acquisitions and divestitures.
Bio-Rad buys QuantaLife for $162M
Bio-Rad Laboratories Inc. (NYSE:BIO) purchased QuantaLife Inc. for $162 million in cash plus milestones.
Topcon puts some coin in LensAR
Topcon Europe Medical BV made an equity investment in LensAR Inc., on top of a previously announced distribution deal for the LensAR Laser System in Europe.
ConvaTec’s AmCare unit buys Farmhurst Medical
ConvaTec subsidiary Amcare Ltd. acquired Farnhurst Medical Ltd., a British home health products delivery firm, for an undisclosed amount.
Cyberonics gets strategic with ImThera Medical
Cyberonics Inc. (NSDQ:CYBX) said it will pump $4 million into ImThera Medical Inc. and its implantable neurostimulation device for the treatment of obstructive sleep apnea.
AeroScout buys Sentient Health
AeroScout acquired hospital software provider Sentient Health for an undisclosed amount.
Welch Allyn closes Trimline deal
Welch Allyn completed the acquisition of Trimline Medical Products Corp. and said it has fully integrated all blood pressure cuff manufacturing operations into its Skaneateles Falls, N.Y., and Tijuana, Mexico, facilities.
Precision Engineered Products buys Boston Endo-Surgical
Precision Engineered Products acquired Boston Endo-Surgical Technologies and plans to integrate it into its Bridgeport, Conn-based Lacey business unit.
Aptiv Solutions buys fellow CRO SRA Global Clinical Development
Aptiv Solutions bought another clinical research organization, SRA Global Clinical Development, the CRO division of British firm SRA International Inc.