Nevro Corp completes merger with Globus Medical

REDWOOD CITY, CA – Nevro Corp , a medical device company with annual revenues of $408.52 million and a market capitalization of $221.21 million, announced on Monday that it has completed a merger with Globus Medical (NYSE:GMED) Inc., marking a significant change in control of the company. As a result of the merger, Nevro is now a wholly owned subsidiary of Globus. According to InvestingPro data, Nevro maintained a healthy gross profit margin of 65.98% prior to the merger, making it an attractive acquisition target.

The merger was finalized on April 3, 2025, following an agreement dated February 6, 2025. This agreement led to the conversion of all outstanding shares of Nevro’s common stock into a right to receive $5.85 per share in cash. Additionally, prior to the merger’s effective time, all outstanding Nevro stock options and restricted stock units were canceled, with certain cash entitlements provided in lieu.

Concurrent with the merger’s completion, Nevro’s outstanding 2.75% Convertible Senior Notes due in 2025 were repaid on April 1, 2025, including approximately $190 million in aggregate principal and around $2.61 million in accrued interest.

In connection with the merger, Nevro also prepaid in full all outstanding amounts under its Credit Agreement, totaling approximately $227.1 million, which included principal, accrued interest, and related fees. The company’s credit facility provided for a $200 million term loan.

Following the consummation of the merger, Nevro notified the New York Stock Exchange (NYSE) of the change, leading to the halting of trading and suspension of Nevro shares (NYSE:NVRO). Nevro plans to delist from the NYSE and deregister its shares under the Securities Exchange Act of 1934.

The merger has also led to a reshuffling of the company’s leadership. All directors of Nevro resigned at the effective time of the merger, with the directors of Merger Sub, a subsidiary of Globus, taking over. Nevro’s certificate of incorporation and bylaws were amended and restated as part of the merger agreement.

This series of corporate actions, detailed in an 8-K filing with the Securities and Exchange Commission, marks a significant transition for Nevro Corp within the medical device industry. The information provided here is based on the statements from the press release. For comprehensive merger analysis tools and detailed financial metrics on over 1,400 US stocks, including exclusive Fair Value calculations and expert insights, explore InvestingPro’s advanced research capabilities.

In other recent news, Nevro Corp. reported its fourth-quarter 2024 results, revealing a mixed performance. The company achieved revenue of $105.5 million, surpassing the consensus estimate of $100.18 million, despite a 9.1% year-over-year decline. However, Nevro faced challenges with a wider-than-expected loss per share of $1.41, significantly missing the analyst prediction of a $0.78 loss per share. U.S. revenue saw a decline of 9.9% to $91.4 million, with decreases in both permanent implant and trial procedures. International revenue also fell by 3.8% to $14.1 million. Nevro’s adjusted EBITDA was negative $5.2 million for the quarter, compared to a positive $8.4 million in the same period the previous year. The company ended the quarter with $292.5 million in cash and short-term investments, marking an increase of $15.5 million from the previous quarter. Nevro did not provide guidance for 2025 due to its impending acquisition by Globus Medical, an all-cash deal valued at approximately $250 million.

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