Globus Medical Inc. reported it is buying Nevro Corp. in an all-cash transaction. Under the terms of the agreement, which was unanimously approved by the boards of both companies, Globus will acquire all shares of Nevro for $5.85 per share. The transaction represents a total equity value of approximately $250 million.
Med-tech stocks experienced a turbulent year of ups and downs in 2024, as the BioWorld Med-Tech Stock Index saw lows of almost 15% and gains of nearly 5% before closing the year up 0.21%. This modest rebound follows consecutive declines of 4.44% in 2023 and a steep drop of 39.58% in 2022.
Nevro Corp. retained advisors to explore strategic alternatives, including a possible sale of the business or acquisitions that could shift its focus to earlier points in the pain management process. The spinal cord stimulator company faces increased competition in its core market.
Boston Scientific Corp. notched another win with the U.S. FDA approval of its spinal cord stimulator (SCS), Wavewriter, for treatment of non-surgical back pain just a week after receiving the agency’s nod for its Farapulse pulsed field ablation system. The new indication comes four months after expansion of approved uses for Wavewriter to include painful diabetic peripheral neuropathy.
Nevro. Corp. closed the acquisition of privately held Vyrsa Technologies Inc., adding the company’s V1 implant for sacroiliac (SI) joint fusion to its product line for chronic pain. Nevro paid $40 million at closing and agreed to up to $35 million in additional payments contingent on the achievement of certain development and sales milestones.
Patent litigation is notoriously drawn out in some instances, as is the case with disputes between Boston Scientific Corp. (BSX), of Natick, Mass., and Nevro Corp., of Redwood City, Calif. However, the two announced Aug. 1 that they have come to terms over several lawsuits, with each enjoying the right to practice some of the disputed patents and Nevro taking in a net payment of $85 million.
Patent law cases are known for lengthy, intricate arguments and explanations, but a recent decision by the U.S. Court of Appeals for the Federal Circuit flew against this trend.
Medtronic plc received FDA premarket approval Friday for use of its Intellis rechargeable and Vanta recharge-free neurostimulators in patients with diabetic peripheral neuropathy (DPN), suddenly tripling the number of spinal cord stimulators approved for the indication. Medtronic’s implantable spinal cord stimulators (SCS) now join Nevro Corp.’s HFX, which has had the distinction since July 2021 of being the only device with FDA approval for DPN, also known as painful diabetic neuropathy (PDN).
Nevro Corp.'s spinal cord stimulation system cut diabetic neuropathy pain in half or more in 85% of patients in a study published on April 5 in JAMA Neurology. Patients receiving the stimulation treatment delivered by the Senza system experienced an average reduction in pain of 76% at six months in the largest clinical largest trial to date to evaluate the use of spinal cord stimulation (SCS) in painful diabetic neuropathy (PDN).
