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8-K - FORM 8-K - NUVASIVE INC | a55336e8vk.htm |
EX-99.2 - EX-99.2 - NUVASIVE INC | a55336exv99w2.htm |
Exhibit 99.1
PRESS RELEASE
Contact:
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Investors: | |
Michael J. Lambert
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Patrick F. Williams | |
EVP & Chief Financial Officer
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Vice President, Finance & Investor Relations | |
NuVasive, Inc.
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NuVasive, Inc. | |
858-909-1998
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858-638-5511 | |
investorrelations@nuvasive.com
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investorrelations@nuvasive.com | |
Media: | ||
Jason Rando | ||
The Ruth Group | ||
646-536-7025 | ||
jrando@theruthgroup.com |
NuVasive Announces Insurance Provider Policy
Reversal to Cover XLIF®
Reversal to Cover XLIF®
SAN DIEGO, February 26, 2010 - NuVasive, Inc. (Nasdaq: NUVA), a medical device company focused
on developing products for minimally disruptive surgical treatments for the spine, announced today
that Aetna changed its spinal surgery policy to include coverage for the eXtreme Lateral Interbody
Fusion, or XLIF procedure, published on February 26, 2010, a reversal from its previous policy that
labeled XLIF as experimental and investigational.
The updated policy states that lateral interbody fusion is considered an acceptable method of
performing a medically necessary anterior interbody fusion, in accordance with the North American
Spine Society (NASS) recommendation letter dated January 5, 2010. NuVasive will update its
reimbursement website accordingly.
About NuVasive
NuVasive is a medical device company focused on the design, development, and marketing of products
for the surgical treatment of spine disorders. The Companys product portfolio is focused primarily
on the $5.1 billion U.S. spine implant market. Additionally, the Company has expanded into the
$1.7 billion global biologics market, the $1.7 billion international market, and is developing
products for the emerging motion preservation market.
NuVasives principal product offering is based on its Maximum Access Surgery, or MAS®
platform. The MAS platform combines four categories of products that collectively minimize soft
tissue disruption during spine surgery with maximum visualization and safe, easy reproducibility
for the surgeon: NeuroVision®, a proprietary software-driven nerve avoidance system;
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 platforms lateral approach, known as eXtreme Lateral Interbody Fusion, or
XLIF®, NuVasive has built an entire spine franchise. With over 55 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 NuVasives 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 uncertain process of seeking regulatory
approval or clearance for NuVasives products or devices, including risks that such process could
be significantly delayed; the risk that government or private payers may deny reimbursement to
hospitals for use of the Companys products; the risk that NuVasive may be unsuccessful in its
efforts to convince government or private payers to provide adequate reimbursement for its
products; the possibility that the FDA may require significant changes to NuVasives products or
clinical studies; 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 additional clinical data
may call into question the benefits of NuVasives products to patients, hospitals and surgeons; and
other risks and uncertainties more fully described in NuVasives press releases and periodic
filings with the Securities and Exchange Commission. NuVasives 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.
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