Press Release
February 9, 2023

Globus Medical To Combine With NuVasive In All-Stock Transaction Valued At $3.1 Billon

The Life Sciences team advised Globus Medical (NYSE: GMED) in its definitive agreement with NUVASIVE (NASDAQ: NUVA) to combine in an all-stock transaction. Under the terms of the agreement, which was unanimously approved by the boards of directors of both companies, NuVasive shareholders will receive 0.75 of a share of Globus Medical Class A common stock for each share of NuVasive common stock owned at the closing of the transaction. Based on this exchange ratio, the implied share price for NuVasive would be $57.72, an equity value of $3.1 billion, based on Globus Medical's closing share price on February 8. Following the close of the transaction, NuVasive shareholders will own approximately 28% of the combined company, and Globus Medical shareholders will own approximately 72%, on a fully diluted basis.

The transaction is expected to close in the middle of 2023, subject to the approval of both companies' shareholders, regulatory approval, and other customary closing conditions.

Globus Medical is a leading musculoskeletal solutions company based in Audubon, PA. The company was founded in 2003 by an experienced team of professionals with a shared vision to create products that enable surgeons to promote healing in patients with musculoskeletal disorders.

The Goodwin team was led by Rachael Bushey, Jennifer Porter, Laura Umbrecht GulickStephanie Isaia, Alice Choi, and Eram Khan.

For additional details on the agreement, please read the press release.