Confirms Earnings Conference Call for October 24th, 2007 at 5:00 p.m. ET
SAN DIEGO, Oct. 23 /PRNewswire-FirstCall/ -- NuVasive, Inc. (Nasdaq: NUVA), a medical device company focused on developing products for minimally disruptive surgical treatments for the spine, announced today it has cancelled the planned investor event scheduled for October 24th at 7:30 p.m. ET (6:30 p.m. CT) in Austin, Texas so that its CEO can return to corporate headquarters in San Diego over concern for the Company's personnel and their families.
Separately, the Company confirmed that it will be holding its third quarter 2007 earnings conference call as scheduled on Wednesday, October 24th, 2007 at 5:00 p.m. ET.
The Company had planned to host the investor event following release of its financial results on Wednesday, October 24. The Company is also participating this week in the Annual Meeting of the North American Spine Society. NuVasive's trade show booth at NASS will be fully-staffed and workshops and operating room demonstrations will go on as planned. Some of the Company's personnel, who would typically participate in the full-scale presence at NASS, have instead remained in San Diego to attend to the safety of their families and homes as a result of the ongoing wildfires in the area.
The Company's headquarters are in no danger and have sustained no damage as a result of the fires. NuVasive's business continues to function as usual on a day-to-day basis and the Company's distribution center in Memphis, Tennessee continues to fill customer orders without disruption.
Alexis V. Lukianov, Chairman and Chief Executive Officer, said, "We continue to be concerned with the safety of the families and homes of our personnel. We will be delivering our financial results for the third quarter from San Diego, rather than Austin, so that we may remain focused on the safety of our personnel and their families, and with operating our business without disruption to our customers. Our headquarters is located away from the immediate danger of the fires and our distribution center in Memphis, Tennessee continues to service our customers routinely and without interruption."
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 $3.6 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, 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 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 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 effect of natural disasters, such as the current wildfires, on the Company's properties or assets; 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 possibility that the FDA may require significant changes to NuVasive's products or clinical studies; the risk that the Company's financial projections may prove incorrect because of unexpected difficulty in generating sales or achieving anticipated profitability; 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.
Kevin C. O'Boyle
EVP & Chief Financial Officer
Nick Laudico / Zack Kubow
The Ruth Group
646-536-7030 / 7020
The Ruth Group
SOURCE NuVasive, Inc.
CONTACT: Kevin C. O'Boyle, EVP & Chief Financial Officer of NuVasive,
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