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GMEDa leading musculoskeletal implant manufacturer, today announced that it has entered into an agreement to acquire the international operations and distribution channels of Alphatec Holdings, Inc.
The parties expect the closing of the acquisition to occur by October following satisfaction of the applicable closing conditions. Globus Medical intends to offer its own products through these sales channels, but during the transition, Globus Medical will continue to sell Alphatec products.
The timing of the transition in each country will depend upon regulatory requirements and contractual or tender commitments.
The transaction includes a supply agreement through which Alphatec will supply its products to Globus Medical for up to five years. In addition, we will be acquiring a talent pool of international sales professionals as well as an extensive network of international distributors.
We expect the impact to be marginally accretive in as we work through our transition and integration plans and to provide up to 8 cents per share in incremental non-GAAP diluted earnings per share EPS in and beyond.
Globus Medical anticipates incurring significant expenses associated with integrating and optimizing this business in Globus Medical will discuss this transaction during its previously announced quarterly earnings conference call scheduled to be held today at 5: About Globus Medical, Inc.
The company was founded in by an experienced team of professionals with a shared vision to create products that enable surgeons to promote healing in patients with musculoskeletal disorders.
For example, non- GAAP Diluted Earnings Per Share represents diluted earnings per share excluding the provision for litigation, acquisition related items, and adjusted for the tax effects of such adjustments.
We believe this non-GAAP measure is a useful indicator of our operating performance, and particularly as an additional measure of comparative operating performance from period to period as it removes the effects of litigation and acquisition related items, which we believe are not reflective of underlying business trends.
Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as a substitute for financial measures prepared in accordance with U.
These measures do not include certain expenses that may be necessary to evaluate our liquidity or operating results. These forwardlooking statements are based on our current assumptions, expectations and estimates of future events and trends.
Forward-looking statements are only predictions and are subject to many risks, uncertainties and other factors that may affect our businesses and operations and could cause actual results to differ materially from those predicted.
These documents are available at www. Moreover, we operate in an evolving environment. New risk factors and uncertainties emerge from time to time and it is not possible for us to predict all risk factors and uncertainties, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.
Given these risks and uncertainties, readers are cautioned not to place undue reliance on any forward-looking statements. Forward-looking statements contained in this press release speak only as of the date of this press release.
We undertake no obligation to update any forward-looking statements as a result of new information, events or circumstances or other factors arising or coming to our attention after the date hereof.Learn how to become a medical business consultant.
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