San Diego medical device maker NuVasive Inc. announced that it is acquiring Mega Surgical, the exclusive distributor of NuVasive products in Brazil.
Financial details of the transaction, expected to close during the first quarter of 2016, were not disclosed.
NuVasive’s Chairman and CEO Greg Lucier said the acquisition would help the company gain better visibility and “reduce the volatility” that the Brazil market has had to NuVasive’s past financial results.
“As we continue our focus on driving international growth and scale, we are off to a strong start for the year in many key markets around the globe,” Lucier said in a statement. “We are gaining momentum from the plans we initiated in the second half of 2015 to refocus market penetration efforts… Despite tougher comparisons expected in the first quarter 2016, we have a high degree of confidence in the underlying strength and expected performance of our international business for the full year 2016."
Headquartered in Rio de Janeiro, Brazil, with a satellite office in São Paulo, Mega Surgical was founded in 1996 as an implantable medical device distribution company. It has partnered with NuVasive since 2008, and is currently the exclusive distributor of NuVasive products in Brazil.