Spine technology company NuVasive has acquired US-based medical device company Simplify Medical for an upfront payment of around $150m.
Based in Sunnyvale of California, Simplify Medical has developed the Simplify cervical artificial disc (Simplify Disc) for cervical total disc replacement (cTDR).
NuVasive stated that the acquisition of Simplify Medical adds the clinically effective cTDR technology and further differentiates its cervical portfolio in the market.
With the acquisition, Simplify Disc will be included in NuVasive’s C360 portfolio. In December last year, NuVasive expanded its product line with the introduction of a new C360 cervical spine portfolio.
NuVasive said that the deal allows it to address all major segments of the cervical spine by providing comprehensive and procedurally integrated solutions across anterior cervical discectomy and fusion (ACDF), posterior cervical fusion (PCF), and cTDR procedures.
Simplify Medical’s technology is developed to help surgeons to improve their capabilities for cTDR across crucial performance functions such as radiologic design, anatomic disc heights and physiologic motion.
Simplify Disc consists of PEEK on ceramic materials that will help enhance visualisation through MRI postoperatively compared to competitive devices, said the company.
The disc, which is anatomically designed, comprises 4mm, 5mm, and 6mm options. The 4mm disc is claimed to be the lowest disc height in the market.
In addition, the advanced disc design offers articulation that facilitates a variable center of rotation for each treated level. It is designed to closely mimic the motion dynamics of a natural spine segment.
NuVasive CEO Christopher Barry said: “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.
“We are excited about the opportunities this acquisition creates as we work to optimize the surgeon experience, advance the standard of care, and create value for shareholders.”
DLA Piper is acting as legal counsel to NuVasive.
JPMorgan is acting as exclusive financial advisor to Simplify Medical, while Wilson Sonsini Goodrich & Rosati and Johnson Winter & Slattery are acting as its legal counsel.
