San Diego-based NuVasive, which makes products for minimally-invasive spine surgery, said Tuesday it will acquire Ellipse Technologies for $380 million.
Ten-year-old, privately-held Ellipse, which is based in Orange County, makes magnetic growing rod technology for treating complex skeletal deformity. In 2015 Ellipse had revenues of approximately $40 million.
“Ellipse’s revolutionary technology, which has been enthusiastically received by surgeons, has the potential to become the standard of care for spine and orthopedic patients,” said Gregory T. Lucier, NuVasive’s chairman and chief executive officer.
NuVasive said it expects the acquisition to accelerate its revenue growth toward the high single-digit range and support its goal of five-year, double-digit return on invested capital.
