NuVasive (NUVA) entered into a definitive agreement to acquire Mega Surgical, exclusive distributor of NUVA products in Brazil. The transaction is expected to close within 1Q16.
Mega Surgical is headquartered in Rio de Janeiro with a satellite office in São Paulo. Founded in 1996, it has partnered with NUVA since 2008.
In the company’s 4Q15 earnings call, Quentin Blackford, CFO, offered the following observation on international business:
“Our Latin American performance continues to experience weakness primarily due to monetary policy factors unrelated to the procedural volumes [that] we see in countries like Brazil. We also experience softer than expected results in the Middle East, as well as Puerto Rico, where we saw lighter surgeries [return to normal in] Q4.”
Mr. Blackford later clarified that underlying procedures were not an issue, but rather that NUVA was not able get paid and recognize revenue in the region.
NuVasive (NUVA) entered into a definitive agreement to acquire Mega Surgical, exclusive distributor of NUVA products in Brazil. The transaction is expected to close within 1Q16.
Mega Surgical is headquartered in Rio de Janeiro with a satellite office in São Paulo. Founded in 1996, it has partnered with NUVA since 2008.
Source:...
NuVasive (NUVA) entered into a definitive agreement to acquire Mega Surgical, exclusive distributor of NUVA products in Brazil. The transaction is expected to close within 1Q16.
Mega Surgical is headquartered in Rio de Janeiro with a satellite office in São Paulo. Founded in 1996, it has partnered with NUVA since 2008.
In the company’s 4Q15 earnings call, Quentin Blackford, CFO, offered the following observation on international business:
“Our Latin American performance continues to experience weakness primarily due to monetary policy factors unrelated to the procedural volumes [that] we see in countries like Brazil. We also experience softer than expected results in the Middle East, as well as Puerto Rico, where we saw lighter surgeries [return to normal in] Q4.”
Mr. Blackford later clarified that underlying procedures were not an issue, but rather that NUVA was not able get paid and recognize revenue in the region.
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