NuVasive (NASDAQ:NUVA) acquires privately held Ellipse Technologies for $380M cash upfront and a potential $30M milestone payable in 2017 related to specific revenue targets. NUVA expects the transaction to accelerate its top line growth in the high-single-digit range and be slightly accretive to its non-GAAP EPS in the first year and significantly accretive thereafter.Ellipse develops devices used in orthopedic surgery. Its PRECICE device is an intramedullary nail used to lengthen the femur and tibia and MAGEC is a spinal bracing and distraction system.NuVasive will host a conference call today at 5:00 pm ET to discuss the deal.
Source.http://seekingalpha.com
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