In the aftermath of its $3.1 billion merger with Globus Medical, San Diego-based spine technology firm NuVasive has implemented a workforce reduction, resulting in the termination of 157 employees. This strategic move follows the acquisition of NuVasive by Philadelphia-based Globus Medical, a combination of two major players in the approximately $50 billion musculoskeletal technology market.
The affected workforce, spanning roles such as engineers, management, and administrative positions, received official notification of the layoffs on January 3. As per NuVasive’s Worker Adjustment and Retraining Notification Act (WARN) filing to the state, the last working day for these employees is slated for March 5.
Despite this significant personnel adjustment, NuVasive affirms its commitment to maintaining operational continuity by keeping the San Diego campus operational post-layoffs, as outlined in the WARN notice. The company, known for its commercial technology, instruments, and educational tools tailored for spine surgeons, is navigating this transition within the dynamic landscape of the medical technology sector.
As of December 31, 2022, Nuvasive boasted a workforce of approximately 2,500 employees in the United States and 500 globally.
Last February, NuVasive underwent an acquisition by Globus Medical through an all-stock deal. Despite this change in ownership, Globus Medical’s CEO, Dan Scavilla, assured analysts that the company intended to preserve NuVasive’s operations in San Diego, Memphis, Tenn., and near Dayton, Ohio.
The merger concluded in September, marking NuVasive’s transformation into a subsidiary of Globus Medical. As of December 31, 2022, Globus Medical, now overseeing a global workforce exceeding 2,600 employees, solidified its position as the parent company.
About Nuvasive
Globus Medical and NuVasive have officially joined forces. We’re committed to providing innovative technologies and industry-leading clinical support to help surgeons and healthcare providers deliver better care around the globe. We now have one of the most comprehensive offerings of musculoskeletal procedural solutions and enabling technologies to impact the care continuum. Our employees are relentlessly focused on changing patient lives. For more information, visit https://www.globusmedical.com/Uniting
What an absolute joke. Stop calling it a merger and call it what it is – a hostile take over. Seems to be zero thought or future planning from the decisions being made by the immature Globus leadership. The MO is make an announcement and deal with the fallout of the poor decision on the run.