Tina Jacobsen, Director of Investor Relations, NuVasive, Inc. (NUVA), announced that the company will focus next on international growth at the 34th Annual Canaccord Genuity Growth Conference at the Intercontinental Hotel in Boston.
NuVasive is a medical device company focused on developing minimally disruptive surgical products and procedurally integrated solutions for the spine, she said. NuVasive’s principal product offering is based on its Maximum Access Surgery, or MAS platform, which it claims reduces surgery time and returns patients to activities faster than conventional approaches. The MAS platform combines several categories of solutions that minimize soft tissue disruption during spine surgery with maximum visualization.
She said the company’s 75 products span lumbar, thoracic and cervical applications, and include a proprietary software-driven nerve avoidance system and intra-operative monitoring support; MaXcess, a split-blade retractor system; a variety of specialized implants; and several biologic fusion enhancers.
“Today we have a clear line of sight to a much better future for NuVasis,” said Jacobsen. “Revenue growth is up 16%, year to date growth is up 13% .” Jacobsen said the company has also improved operating margins and raised its guidance. It anticipates $745 million in revenue for this year.
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While U.S. commercial insurers “highly scrutinize” procedures and have made it much more difficult for procedures, the “spine market has stabilized,” Jacobsen said. “The surgeons have learned to navigate in this market and pull together clinical evidence in support of spine fusion surgery.” Jacobsen said the company looks toward further adaptation of minimally invasive surgery.
NuVasive is “investing a lot of time and money to have a presence overseas,” said Jacobsen. “That’s been a long and gradual and thoughtful endeavor. We entered Europe first, and then the Asian Pacific market and South and Latin America.” The company started generating profit overseas last year, and Jacobsen said “we believe the level of profit will continue. That will be a driver of operating margin.”
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