Globus Medical, a medical device company based in Audubon, and NuVasive, which is based in San Diego, have completed their multibillion-dollar merger, writes John George for the Philadelphia Business Journal.

Under the terms of the agreement, Globus will give 0.75 shares of its Class A common stock to NuVasive in exchange for each share of NuVasive common stock owned at the closing of the transaction.

Globus shareholders will own 72% of the combined company, while NuVasive shareholders will own the remaining 28%.

The combined company has more than 5,000 employees. David Paul, the executive chairman of Globus, will serve as chairman of the combined company’s board of directors. Globus CEO Dan Scavilla will be the CEO and the chief financial officer of Globus Medical, Keith Pfeil, will serve as CFO of the combined company.

The companies said the merger will allow them to expand their business presence into more countries and to offer more products and services.

Read more about the merger between Globus Medical and NuVasive at the Philadelphia Business Journal.

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