NuVasive has acquired Simplify Medical, which develops the Simplify Cervical Artificial Disc for cervical total disc replacement (cTDR), in a deal valued at $150m.
With the acquisition, NuVasive can address all key parts of the cervical spine by providing inclusive, procedurally integrated solutions across anterior cervical discectomy and fusion (ACDF), posterior cervical fusion (PCF), and cTDR procedures.
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NuVasive CEO J Christopher Barry said: “The acquisition of Simplify Medical advances our previously communicated long-term growth strategy by both expanding and further distinguishing our portfolio with industry-leading innovation.
“Combining the Simplify Disc with NuVasive’s C360 portfolio will enable us to provide surgeons with world-class cervical technology, regardless of their preferred procedural approach.”
Supported by level-1 evidence through the US Food and Drug Administration (FDA) investigational device exemption (IDE) study, the Simplify Disc was shown to be clinically superior to ACDF in the randomised, controlled trial.
Currently, it is being analysed in an IDE study in the US for two-level indications, pending FDA approval.
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By GlobalDataSimplify Medical president and CEO David Hovda said: “As demonstrated by the strong clinical data and the unique design characteristics of the Simplify Disc, we share NuVasive’s focus on outcome-driven innovation.
“NuVasive’s scale and global commercial channels will greatly accelerate the ability to bring the Simplify Disc to more surgeons and patients around the world.”
According to the agreement, Simplify Medical has received the upfront payment from NuVasive at closing, subject to customary purchase price adjustments.
Furthermore, Simplify Cervical is eligible for additional milestone payments upon obtaining regulatory approval and net sales from products incorporating the Simplify Disc technology.
The upfront payment made by NuVasive was funded using available cash on hand.
Last June, NuVasive expanded its complex spine portfolio with the worldwide launch of Reline 3D posterior fixation system for pediatric deformity.
