Medical device maker NuVasive, Inc. (NUVA: Quote) 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."
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by RTT Staff Writer
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