Aliso Viejo-based medical device maker Ellipse Technologies Inc. will be sold to San Diego-based NuVasive Inc. in a deal worth up to $410 million.
Ellipse develops and markets implants used to treat spinal and other orthopedic disorders. NuVasive makes spinal surgical devices.
NuVasive said in a release it plans to maintain a “design center of excellence” in Aliso Viejo and that Edmund Roschak, Ellipse chief executive, will become part of NuVasive’s leadership team.
NuVasive, which had sales of about $596 million through the first nine months of 2015 and a recent market value of $2.6 billion, said the deal for Ellipse includes a $380 million upfront cash payment and a potential $30 million payment if certain revenue goals are met. The deal is expected to close by the end of February.
Privately held Ellipse, which in October filed for an IPO, is projected to have $60 million in revenue this year.
Brittany Meiling is a reporter for our sister publication, the San Diego Business Journal.
