Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - NUVASIVE INC | a55336e8vk.htm |
| EX-99.1 - EX-99.1 - NUVASIVE INC | a55336exv99w1.htm |
Exhibit 99.2
PRESS RELEASE
Contact:
|
Investors: | |
Michael J. Lambert
|
Patrick F. Williams | |
EVP & Chief Financial Officer
|
Vice President, Finance & Investor Relations | |
NuVasive, Inc.
|
NuVasive, Inc. | |
858-909-1998
|
858-638-5511 | |
investorrelations@nuvasive.com
|
investorrelations@nuvasive.com | |
| Media: | ||
| Jason Rando | ||
| The Ruth Group | ||
| 646-536-7025 | ||
| jrando@theruthgroup.com |
NuVasive Announces Additional
Insurance Provider XLIF® Policy Reversal
Insurance Provider XLIF® Policy Reversal
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 United Healthcare changed its lumbar spinal fusion 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 unproven.
The updated policy removes XLIF from the list of unproven spinal fusion techniques and adds coding
clarification in line with the North American Spine Society (NASS) recommendation letter dated
January 5, 2010.
Alex Lukianov, Chairman and Chief Executive Officer, said, “We were pleased to learn of the
reversal of Aetna’s coverage policy this morning, with United Healthcare following shortly
thereafter. Following the guidance from NASS, we have been working diligently to reverse
non-coverage decisions for XLIF, and we will continue to pursue this strategy.”
Please refer to NuVasive’s
website, www.nuvasive.com, for future updates on reimbursement.
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 Company’s 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.
NuVasive’s 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 platform’s 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 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 uncertain process of seeking regulatory
approval or clearance for NuVasive’s 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 Company’s 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 NuVasive’s 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 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.
###