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
Bank of Nova Scotia or otherwise known as Scotiabank, Friday reported lower net profit for the third quarter, in the absence of a year-ago gain. Earnings per share, however, came in line with the Street view. Further, the company said it raised its quarterly dividend by 2 cents. Non-traditional discount and variety stores operator Big Lots Inc. (BIG) Friday reported a decline in net profit for the second quarter, while net sales grew 1.2 percent from the prior year. Comparable sales for the quarter increased 2.8 percent. Google has rejected the European Union's charges that it abused its market power and the demanded that it change the way it ranks online comparison shopping services in its search results, setting up a potentially long legal battle with the EU regulator empowered to levy billions of euros in fines
comments powered by Disqus
RELATED NEWS
Trade NUVA now with 
Follow RTT