NuVasive, Inc. Announces Outstanding Showing at North American Spine Society 2012
Published: Oct 29, 2012
SAN DIEGO, CA--(Marketwire - October 29, 2012) - NuVasive, Inc. (NASDAQ: NUVA), a medical device company focused on developing minimally disruptive surgical products and procedures for the spine, featured its procedural solutions and sophistication from years of experience in lateral approach spine surgery at the North American Spine Society (NASS) 2012 Annual Meeting.
The Company showcased a number of innovative products designed to drive market penetration. The new medialized posterior approach known as MAS® PLIF is designed to minimize muscle disruption associated with traditional posterior approach with a less invasive exposure for pathology that requires direct posterior decompression. The Precept® Posterior Fixation System which simplifies procedures by offering more practical MIS instrumentation for even the most advanced constructs. Additional new product standouts included new application specific implants for XLIF® to recreate sagittal alignment, expansions of MAS® TLIF, and the new MaXcess-C™ retractor for the cervical spine. As well, surgeon interest in the power of NuVasive's integrated neuromonitoring solutions was very high.
The Company culminated NASS 2012 with the announcement that the U.S. Food and Drug Administration (FDA) granted Premarket Approval (PMA) for its PCM® Cervical Disc System. The device has many design features that make it a truly unique product offering compared to other cervical motion preserving devices currently or imminently on the market. Its low-profile design enables it to be minimally disruptive to the adjacent anatomy, which supports it as a viable treatment option for levels adjacent to prior fusions. Additionally, the Company showcased the extensive volume of strong clinical data related to the device.
Alex Lukianov, Chairman and Chief Executive Officer of NuVasive said, "Our surgeon booth traffic was clearly the highest and most consistent versus our competitors. We had surgeon presentations to emphasize expanded applications for XLIF and the breadth and depth of the NuVasive product offering, with demonstrations of MAS-TLIF, ILIF, and MAS-PLIF. Surgeon adoption of those solutions, in addition to the innovative new solutions launched at NASS, such as the PCM Cervical Disc System and our Precept Posterior Fixation System, will drive penetration and growth for years to come. I am exceptionally proud of the team at NuVasive that worked to make NASS 2012 a tremendous success. I look forward to building on the momentum from the meeting to affect a solid close to 2012 and a great start to 2013."
The NuVasive booth also featured the Company's patient and industry advocacy efforts dedicated to improving patient access to care. Basketball Hall-of-Famer, Bill Walton emphasized the success of The Better Way Back program, which was designed to build a community of support for individuals suffering from chronic back and leg pain. Another highlight was the Spine Care Alliance, a program for patients who have exhausted the appellate process for medically indicated spine surgery, which has been very effective in helping to overturn fusion denials.
NuVasive is a medical device company focused on developing minimally disruptive surgical products and procedurally integrated solutions for the spine. The Company is the 4th largest player in the $7.9 billion global spine market.
NuVasive's principal product offering is based on its Maximum Access Surgery, or MAS® platform. The MAS platform combines several categories of solutions that collectively minimize soft tissue disruption during spine surgery with maximum visualization and safe, easy reproducibility for the surgeon: a proprietary software-driven nerve avoidance system and intra-operative monitoring support; MaXcess®, a unique split-blade retractor system; a wide variety of specialized implants; and several biologic fusion enhancers. MAS significantly reduces surgery time and returns patients to activities of daily living much faster than conventional approaches. Having redefined spine surgery with the MAS platform's lateral approach, known as eXtreme Lateral Interbody Fusion, or XLIF®, NuVasive has built an entire spine franchise. With over 75 products today spanning lumbar, thoracic and cervical applications, the Company will continue to expand and evolve its offering predicated on its R&D focus and dedication to outstanding service levels supported by a culture of Absolute Responsiveness®.
NuVasive cautions you that statements included in this press release that are not a description of historical facts are forward-looking statements that involve risks, uncertainties, assumptions and other factors which, if they do not materialize or prove correct, could cause NuVasive's results to differ materially from historical results or those expressed or implied by such forward-looking statements. The potential risks and uncertainties that could cause actual growth and results to differ materially include, but are not limited to: the risk that spine surgeons may be slow to adopt our Precept Posterior Fixation system, our products for MAS PLIF or MAS TLIF, our PCM Cervical Disc System or our other products; the risk that future patient studies or clinical experience may indicate that treatment with the PCM Cervical Disc System or our other products does not improve patient outcomes; the risk that surgeon interest in our new products and our integrated neuromonitoring solutions may not result in commercial success; the risk that products may not perform as intended and may therefore not achieve commercial success; the risk that competitors may develop superior products or may have a greater market position enabling more successful commercialization; the risk that insurance payers may refuse to reimburse healthcare providers for the use of NuVasive's products the risk that additional clinical data may call into question the benefits of NuVasive's products to patients, hospitals and surgeons; and other risks and uncertainties more fully described in NuVasive's press releases and periodic filings with the Securities and Exchange Commission.NuVasive's public filings with the Securities and Exchange Commission are available at www.sec.gov. NuVasive assumes no obligation to update any forward-looking statement to reflect events or circumstances arising after the date on which it was made.
Michael J. Lambert
EVP & Chief Financial Officer
Patrick F. Williams
Vice President, Strategy & Investor Relations
Nicholas S. Laudico
The Ruth Group