SAN DIEGO, Aug. 19 /PRNewswire-FirstCall/ -- NuVasive, Inc.
(Nasdaq: NUVA), a medical device company focused on developing products for
minimally disruptive surgical treatments for the spine, announced today that
it has obtained a complaint brought by Medtronic Sofamor Danek alleging patent
infringement involving certain NuVasive products.
Alex Lukianov, NuVasive's Chairman and CEO, said, 'It is not surprising
that Medtronic would attempt to intimidate NuVasive with this suit, since
NuVasive represents a growing threat to Medtronic's spine business. Medtronic
did not notify us of the lawsuit prior to filing it, and has not been in
contact with us yet. We have obtained a copy of the complaint and are in the
process of reviewing it and assessing our defenses. Based on our initial
review, we do not expect our existing operations to be significantly disrupted
as we respond to this lawsuit. Given the existing patents referenced by
Medtronic in the complaint, we are also analyzing our potential counterclaims
based on our own significant patent portfolio and intellectual property
rights.'
Mr. Lukianov continued, 'We would prefer to compete with Medtronic in the
market, but we are prepared to defend ourselves in the courtroom so that
patients can continue to experience the innovations that NuVasive has brought
to the field of spinal care. The timing of this lawsuit is strange given the
fact the allegedly infringing products in some instances have been on the
market for several years. Nonetheless, we will vigorously defend ourselves in
this action. More importantly, we will stay focused on building our business
and remaining a leader in the development of creative spine surgery products
that benefit patients.'
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 on applications in the over $4.2
billion U.S. spine fusion market. The Company's current principal product
offering includes a minimally disruptive surgical platform called Maximum
Access Surgery, or MAS(R), as well as a growing offering of cervical and
motion preservation products.
The MAS platform offers advantages for both patients and surgeons such as
reduced surgery and hospitalization time and faster recovery. MAS combines
three categories of current product offerings: NeuroVision(R) a proprietary
software-driven nerve avoidance system; MaXcess(R) a unique split-blade design
retraction system; and specialized implants, like SpheRx(R) and CoRoent(R),
that collectively minimize soft tissue disruption during spine surgery while
allowing maximum visualization and surgical reproducibility. NuVasive's
product offering is also focused on cervical internal fixation products and
its R&D pipeline emphasizes both MAS and motion preservation.
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 Company'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 risk that the patent litigation described in this press
release will result in significant expenses for the Company; the risk that
this litigation could result in damages awards against the Company, including
the possibility of treble damages if the Company is ultimately determined to
have infringed; the risk that this litigation will divert the attention of
management; the risk that the Company's defenses or counterclaims to this
litigation may prove ineffective; the uncertain process of seeking regulatory
approval or clearance for Company's products or devices, including risks that
such process could be significantly delayed; the risk that competitors may
develop superior products or may have a greater market position enabling more
successful commercialization; and other risks and uncertainties more fully
described in Company's press releases and periodic filings with the Securities
and Exchange Commission. Company's public filings with the Securities and
Exchange Commission are available at www.sec.gov. Company assumes no
obligation to update any forward-looking statement to reflect events or
circumstances arising after the date on which it was made.
Contact: Investors:
Kevin C. O'Boyle Nick Laudico/Zack Kubow
EVP & Chief Financial Officer The Ruth Group
NuVasive, Inc. 646-536-7030/7020
858-909-1800 nlaudico@theruthgroup.com
investorrelations@nuvasive.com zkubow@theruthgroup.com
Media:
Jason Rando
The Ruth Group
646-536-7025
jrando@theruthgroup.com
SOURCE NuVasive, Inc.