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8-K - FORM 8-K - NUVASIVE INC | a58403e8vk.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 Coverage Policy
Change Regarding XLIF® Procedure
Change Regarding XLIF® Procedure
SAN DIEGO, January 18, 2011 - NuVasive, Inc. (Nasdaq: NUVA), a medical device company focused
on developing minimally disruptive surgical products and procedures for the spine, announced today
that both CIGNA and Humana recently changed their lumbar spinal fusion policy to include coverage
for the eXtreme Lateral Interbody Fusion, or XLIF procedure, reversals from their previous policies
that labeled XLIF as non-covered. At this time, all of the major commercial insurance providers
that once had non-coverage policies for XLIF have reversed their position. This list includes
Aetna, United Healthcare, Health Care Service Corporation, Humana and most recently CIGNA.
Alex Lukianov, Chairman and Chief Executive Officer, said, We are very pleased with the recent
coverage decisions by both CIGNA and Humana. We applaud the efforts of surgeons, surgical
societies and the insurance companies to ensure beneficial technologies, like our XLIF procedure,
are available to those patients suffering from spine related issues. We look forward to future
collaborations on spine surgery guidelines in order to provide patients access to appropriate
physician recommended treatments.
About NuVasive
NuVasive is a medical device company focused on developing minimally disruptive surgical products
and procedures for the spine. The Company is the 5th largest player in the $7.7 billion
global spine 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: 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 65 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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