From a $150 million acquisition to the EU approval of its robotic spine surgical application, here are six key developments from NuVasive this year:
1. Pulse, NuVasive's spine imaging system received the CE mark of approval from the European Union in June. Pulse and its associated robotics application features neuromonitoring, surgical planning, radiation reduction and rod-bending technologies, as well as imaging and navigation functions. NuVasive expects to launch the system worldwide this summer.
2. NuVasive acquired Simplify Medical and its Simplify Disc for spinal arthroplasty in a $150 million deal in February. The Simplify Disc is one of three artificial discs approved for two-level cervical total disc replacement.
3. In the first quarter, NuVasive's net sales increased 4.4 percent to $271.2 million, but reported a non-GAAP net income of $19 million, a 25.2 percent decrease year over year. The company is yet to announce a date for its second-quarter earnings call.
4. Gregory Lucier, former NuVasive CEO, retired from the company's board of directors May 18. Mr. Lucier joined the board in 2013 and became chairman and CEO in 2015. He left his role as CEO in November 2018 after growing the company's net sales to more than $1 billion.
5. NuVasive is participating in two clinical trials focusing on improving outcomes in adult spinal deformity surgery in partnership with the International Spine Study Group Foundation. One study is assessing the treatment of complex adult spinal deformity from a minimally invasive approach, and the other is a prospective analysis of the safety profile, clinical and radiographic outcomes, and performance of the VersaTie posterior fixation system.
6. NuVasive plans to open the NuVasive East Coast Experience Center in Englewood, N.J., later this year to expand its educational program. The center provides training for less invasive surgical techniques, rooms for virtual learning as well as enhanced private research and development labs.