logo
Share SHARE
FONT-SIZE Plus   Neg

NuVasive Acquires Spine Implant Manufacturer ANC

Medical device maker NuVasive, Inc. (NUVA) said Monday that it has acquired ANC, LLC, a spine implant manufacturer based in Dayton, Ohio. for about $4.5 million.

NuVasive has been involved with the manufacturer since it was established in May 2010 as a manufacturing partner. The relationship expanded over the past 3 years, and ANC is currently one of NuVasive's significant implant suppliers.

NuVasive expects the deal be neutral to earnings in fiscal year 2013. Over the long term, however, the company expects vertical integration will provide opportunities to drive profitability improvements.

Alex Lukianov, NuVasive's Chairman and Chief Executive Officer, said, "We are very excited to welcome ANC's 65 member team into the NuVasive family. Over the past three years, we have been very impressed with ANC's progression as a quality manufacturer and their cultural fit with NuVasive. The facility will be designated NuVasive Manufacturing, LLC, and we look forward to expanding their capacity and systems as we grow together."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Embark Veterinary Inc., a startup that makes dog DNA-testing kits for pet owners, vets and breeders, said it has raised $4.5 million in funding from investors and relocated its headquarters to Boston. The company intends to use the new funding to expand its canine genetic testing suite for pet owners, breeders, and veterinarians. Intel Corp. has completely shut down its wearables division about two weeks ago, CNBC reported, citing a person familiar with the matter. The company reportedly intends to focus on augmented reality. According to the CNBC report, Intel laid off about 80 percent of the team that made the Basis fitness watch in November 2016 and has now eliminated the division entirely. The Federal Trade Commission is investigating allegations that Amazon.com Inc. misled consumers about its pricing discounts, Reuters reported, citing a source close to the probe. The FTC probe is reportedly part of the agency's review of Amazon's proposed $13.4 billion deal to buy grocery chain Whole Foods Market Inc.
comments powered by Disqus
Follow RTT