SAN DIEGO, Oct. 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 been named the fastest growing technology company in North America in the Deloitte Technology Fast 500 Ranking. The program is sponsored by Deloitte & Touche LLP, one of the nation's leading professional services firms, and ranks the 500 fastest growing technology companies in North America. Rankings are based on the percentage, revenue growth over five years from 2000-2004.
Alexis V. Lukianov, Chairman and Chief Executive Officer of NuVasive, said, "We are very proud to be the fastest growing technology company in North America, as ranked by Deloitte in the Fast 500. We thank them for their recognition and congratulate those companies who made this prestigious list. We again relate this achievement directly to the focus and dedication of our employees, and their embrace of our Absolute Responsiveness culture, which has truly formed the foundation of our robust growth. We feel very fortunate to have some of the country's most talented people and look forward to expanding our team as NuVasive's growth in the development of innovative spine surgery technology strengthens."
"Attracting enough customers to attain such robust growth over five years makes a strong statement about the quality of NuVasive's product offerings, vision, and management," said Tony Kern, deputy national managing principal of Deloitte's Technology, Media and Telecommunications industry practice. "Not only have they proved successful in a tough medical technology competitive environment, they have demonstrated their commitment to helping spine surgery patients recover quicker with minimally disruptive techniques that reduce hospital stay, tissue trauma and blood loss."
To qualify for the Technology Fast 500, companies must have had operating revenues of at least $50,000 in 2000 and $1,000,000 in 2004, must be public or private companies headquartered in North America, and be a "technology company," defined as a company that owns proprietary technology that contributes to a significant portion of the company's operating revenues; or devotes a significant proportion of revenues to the research and development of technology.
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 $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(TM), as well as classic fusion implants.
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(TM) and CoRoent(TM)-that collectively minimize soft tissue disruption during spine surgery while allowing maximum visualization and surgical reproducibility. NuVasive's classic fusion portfolio is comprised predominantly of proprietary saline packaged bone allografts and internal fixation products. NuVasive also has a robust R&D pipeline emphasizing both MAS and motion preservation products such as Total Disc Replacement (TDR) and a nucleus-like cervical disc replacement.
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Deloitte & Touche USA LLP is the US member firm of Deloitte Touche Tohmatsu. In the US, services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP, Deloitte Tax LLP and their subsidiaries), and not by Deloitte & Touche USA LLP.
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 risk that additional clinical experience may demonstrate that NuVasive's products do not provide the intended safe and reproducible results; the risk that NuVasive may be unable to sustain its historic revenue growth rates; the risk that NuVasive may be unable to achieve commercial success in the selling of it current or new products; 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.
Contact: Investors: Kevin C. O'Boyle Stephanie Carrington/Nick Laudico EVP & Chief Financial Officer The Ruth Group NuVasive, Inc. 646-536-7017/7030 858-909-1800 firstname.lastname@example.org email@example.com firstname.lastname@example.org