Medical device firm NuVasive has signed an agreement to acquire healthcare organization Biotronic NeuroNetwork, for around $98m.
Established in 1982, Biotronic offers intraoperative neurophysiological monitoring services to surgeons and healthcare facilities across the US.
Through its proprietary software and virtual private network, the firm supports around 45,000 surgeries per annum in around 650 hospitals.
Biotronic had generated $50m in the last year.
The acquisition will allow NuVasive to expand its service business across the US and grow coverage and capabilities in crucial complementary markets.
NuVasive chairman and CEO Gregory Lucier said: "We are extremely excited about this combination, as it more than doubles NuVasive’s neurophysiology footprint, creating an at-scale services business with improved growth and operational benefits.
"The addition of Biotronic enhances our service offerings and provides enormous potential to deliver greater integration across our procedurally-integrated portfolio, which uniquely differentiates NuVasive in the markets we serve."
Through its Impulse Monitoring (IMI) subsidiary, NuVasive currently offers intraoperative neurophysiological monitoring services to surgeons and healthcare facilities.
Once the deal concludes, the firm intends to combine the service offerings of Biotronic with IMI to create NuVasive Clinical Services.
Subject to customary closing conditions, the deal is expected to complete in early July.
NuVasive provides minimally invasive and procedurally-integrated spine solutions, including access instruments, implantable hardware and software systems for surgical planning.