M&A Deal Summary

NuVasive Acquires Biotronic NeuroNetwork

On June 6, 2016, NuVasive acquired healthcare services company Biotronic NeuroNetwork from Stonehenge Partners, Great Point Partners and Prospect Capital Management for 98M USD

Acquisition Highlights
  • This is NuVasive’s 1st transaction in the Healthcare Services sector.
  • This is NuVasive’s 2nd largest (disclosed) transaction.
  • This is NuVasive’s 6th transaction in the United States.
  • This is NuVasive’s 1st transaction in Michigan.

M&A Deal Summary

Date 2016-06-06
Target Biotronic NeuroNetwork
Sector Healthcare Services
Buyer(s) NuVasive
Sellers(s) Stonehenge Partners
Great Point Partners
Prospect Capital Management
Deal Type Add-on Acquisition
Deal Value 98M USD
Advisor(s) McDermott Will & Emery (Legal)

Target

Biotronic NeuroNetwork

Ann Arbor, Michigan, United States
Biotronic NeuroNetwork LLC is a patient centric healthcare organization that provides intraoperative neurophysiological monitoring services to surgeons and healthcare facilities across the U.S.

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Buyer(S) 1

Buyer

NuVasive

San Diego, California, United States

Category Company
Founded 1997
Sector Medical Products
Revenue 1.2B USD (2022)
DESCRIPTION
Entrance to NuVasive's corporate headquarters in San Diego, California.
Entrance to NuVasive's corporate headquarters in San Diego, California.

NuVasive is a medical device company focused on the design, development, and marketing of products for the surgical treatment of spine disorders. NuVasive was formed in 1997 and is based in San Diego, California.


DEAL STATS #
Overall 7 of 10
Sector (Healthcare Services) 1 of 2
Type (Add-on Acquisition) 6 of 9
State (Michigan) 1 of 1
Country (United States) 6 of 9
Year (2016) 3 of 3
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-07 Mega Surgical Comercio E Representacoes

Rio De Janeiro, Brazil

Mega Surgical Comercio E Representacoes Ltda is 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.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-07 Vertera Spine

Atlanta, Georgia, United States

Vertera Spine is a privately-held medical device company developing and commercializing highly innovative interbody implants for spinal fusion using patented porous polyetheretherketone (PEEK) technology. Vertera Spine was founded in 2013 and is based in Atlanta, Georgia.

Buy -

Seller(S) 3

SELLER

Stonehenge Partners

Columbus, Ohio, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1999
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Stonehenge Partners is a private equity firm that seeks equity and mezzanine investments in lower middle-market companies with at least $10 million in sales. Stonehenge looks to invest ranging from $10 million to $50 million of equity/junior capital to support management buyouts, leveraged acquisitions, recapitalizations, and growth capital financings. Stonehenge prefers businesses operating in manufacturing, distribution, business services and healthcare. Stonehenge avoids investing in real estate, oil and gas, high technology and 'industries that are susceptible to a high degree of cyclicality'. Stonehenge was formed in 1999 and is based in Columbus, Ohio.


DEAL STATS #
Overall 29 of 38
Sector (Healthcare Services) 2 of 2
Type (Add-on Acquisition) 9 of 17
State (Michigan) 4 of 4
Country (United States) 28 of 37
Year (2016) 1 of 3
Size (of disclosed) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-28 MedVet

Worthington, Ohio, United States

MedVet is an independent owner of specialty and emergency veterinary hospitals. MedVet was founded in 1988 and is based in Worthington, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-02 ARPAC

Schiller Park, Illinois, United States

ARPAC LLC is a packaging machinery manufacturing and service organization. Arpac's product portfolio includes shrink wrappers, shrink bundlers, tray formers, case formers tray packers, case packers, shrink tunnels, palletizing, robotic palletizing, and pallet stretch wrapping. Arpac serves producers of foods, beverages, building supplies, automotive products, printed publications, health & beauty, material handling companies and a wide variety of industrial and consumer goods.

Sell -
SELLER

Great Point Partners

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2003
PE ASSETS 1.7B USD
Size Large
Type Sector Focused
DESCRIPTION

Great Point Partners is a private investment firm focused on investing in private and public healthcare companies. Great Point's private equity practice invests $10 to $100 million of growth capital in private, growing companies. Specific areas of interest within the healthcare sector includes biotechnology and life sciences, consumer health, generic drugs, health care services, information technology, insurance, medical devices, specialty pharmaceuticals, and worker compensation companies. Great Point Partners was formed in 2003 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 8 of 18
Sector (Healthcare Services) 1 of 2
Type (Add-on Acquisition) 4 of 7
State (Michigan) 1 of 1
Country (United States) 7 of 14
Year (2016) 1 of 2
Size (of disclosed) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-01 VitaLink Research

Greenville, South Carolina, United States

VitaLink Research is a fully integrated clinical trial sites, connects world-class physicians and medical professionals with site managers and research coordinators to set the standard for the timely execution of clinical trial protocols with trustworthy results across all sites. VitaLink Research was founded in 2004 and is based in Greenville, South Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-20 Alliance Biomedical

Spartanburg, South Carolina, United States

Alliance Biomedical is a dedicated clinical research site business with an effective method of research operations and management that consistently exceeds sponsor and FDA expectations during all quality audits while consistently ranking in the top 10% in global enrollment. The clustering of sites provides the opportunity for inter-site cross-training, idea exchange, and standardization of operating procedures. With over ten years of shared experiences, the company has developed best practices that continue to be the foundations of its successful U.S. operations. Alliance Biomedical was formed in 2004 and is based in Spartanburg, South Carolina.

Buy -
SELLER

Prospect Capital Management

New York, New York, United States

Investor Investor Investor Investor Investor


Category Business Development Company
Founded 1988
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Prospect Capital Corporation is a publicly traded mezzanine debt and private equity firm that primarily provides non-control financing to support growth, recapitalizations, acquisitions, and development. Prospect will selectively consider control acquisitions by providing multiple levels of the capital structure. Prospect was initially formed in 1988 and went public 2004. The Firm is based in New York City.


DEAL STATS #
Overall 37 of 48
Sector (Healthcare Services) 2 of 3
Type (Add-on Acquisition) 14 of 17
State (Michigan) 1 of 1
Country (United States) 37 of 47
Year (2016) 4 of 5
Size (of disclosed) 12 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-04 Evanta

Portland, Oregon, United States

Evanta Inc. is a provider of immersive leadership development programs for high-potential executives also in partnership with MIT Sloan School of Management, University of Texas McCombs School of Business, University of Chicago Booth School of Business and UC Berkeley Haas School of Business.

Sell $275M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-17 Empire Today

Northlake, Illinois, United States

Empire Today is a provider of installed home improvements and home furnishings. Empire serves residential and business customers with a wide selection of products suitable for homes, small businesses, organizations, and commercial applications. Empire’s line of quality, name-brand products includes carpet, hardwood, laminate, ceramic, vinyl flooring, and window treatments. The company provides shop-at-home convenience or on-site consultation, next-day professional installation on many products, quality products at great prices, and world-class service to about 70 of the largest metropolitan areas in the US. Empire Today was founded in 1959 and is based in Northlake, Illinois.

Sell -