NuVasive is to acquire Mega Surgical, the only Brazilian distributor of NuVasive products. The acquisition, which has been definitively agreed, is expected to close during the first quarter of 2016. Terms of the agreement have not been disclosed.
Jason M Hannon, executive vice president, International, says, “We are pleased to announce the acquisition of our international distributor, Mega Surgical, in Brazil, which will offer NuVasive direct engagement in an important international market with untapped potential. This acquisition will provide us with new growth opportunities in this key Latin American market, along with direct access to a large, growing market for accelerated share-taking in new segments, including a new opportunity to compete in Brazil’s large public healthcare market. Additionally, it will allow for direct contact with surgeons and key opinion leaders throughout the country where direct relationships are a preferred method of doing business.”
Gregory T Lucier, NuVasive’s chairman and chief executive officer, says, “Our acquisition of Mega Surgical in Brazil represents another step forward in expanding our direct global presence, while gaining better visibility and reducing the volatility that this important international market has had to our past financial results…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.