San Diego-based NuVasive said Monday it will acquire Biotronic NeuroNetwork, a provider of neural monitoring services, for $98 million in cash.
NuVasive, which started as a maker of medical devices for spinal surgery, said the acquisition will allow it to expand its medical services business across the U.S. in complementary markets.
“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,” said Gregory T. Lucier, chairman and chief executive officer of NuVasive.
Privately held Biotronic, based in Ann Arbor, MI, was founded in 1982. It offers neural monitoring services in which certified specialists monitor a patient’s nervous system during surgery
The company supports more than 45,000 surgeries annually in more than 650 hospitals. It had revenue of more than $50 million in revenue in 2015.
