NuVasive CEO Chris Barry broke down how the company has performed over the past year during his second quarter conference call and touched on product launches for the rest of the year.
The company reported 3.7 percent increase in revenue to to $292.1 million for the quarter. Here are five quotes from Mr. Barry from the conference call, transcribed by Seeking Alpha.
Chris Barry on the uptick in U.S. spine devices: "U.S. spinal hardware revenue increased approximately 6 percent year-over-year, highlighted the quarter with strong increase in case volume, plus tangible growth in both the XLIF and ALIF franchises, driven by continued adoption of NuVasive's X360 system."
CB on titanium implant development: "NuVasive continues to pioneer design and manufacturing methods that focus on combining the inherent benefits of porosity, with the advantageous material properties of PEEK and titanium. This provides surgeons with a portfolio of advanced material implant options that best fit their patient's needs."
"This includes Modulus TLIF-O, a coarse titanium spine implant engineered for TLIF, the most commonly performed surgical procedure in the spine industry. We also had first case use of Cohere XLIF, the first of its kind lateral Porous PEEK implant for XLIF in lateral single position surgery."
CB on the success of the NuVasive X360 system: "Spine surgeons, access surgeons and hospital systems are clearly seeing the benefits of the X360 system to the care they can deliver. By eliminating the need to reposition the patient during surgery, the X360 drives shorter surgery times in the OR, which means the patient spends less time under anesthesia and hospitals and surgeons gain efficiencies and increased productivity."
CB on product releases for 2019: "We're on track to launch more than a dozen new products this year, spanning from solutions in core implant and fixation product lines to enabling technologies to support the further adoption of minimally invasive surgery."