SAN DIEGO, Sept 27, 2005 /PRNewswire-FirstCall via COMTEX News Network/ -- 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 San Diego's fastest growing technology company in Deloitte & Touche's Technology Fast 50 Program. The program is sponsored by Deloitte & Touche LLP, one of the nation's leading professional services firms, and ranks the 50 fastest growing technology companies by region. 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 proud to be San Diego's fastest growing technology company as ranked by Deloitte in the Fast 50. We thank them for their recognition. This achievement is a direct result of the focus and dedication of our employees, or shareowners as we call them, who have embraced a culture of Absolute Responsiveness that exemplifies everything they do. We feel very fortunate to have some of San Diego's most talented people and look forward to expanding our team as NuVasive's growth in the development of innovative spine surgery technology strengthens."
To qualify for the Technology Fast 50, 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.
Helen Adams, partner, Technology, Media & Telecommunications, Deloitte & Touche LLP said, "Deloitte's San Diego Technology Fast 50 companies have shown the strength, vision and temerity to succeed in today's very competitive technology environment. We applaud the successes of NuVasive and acknowledge their place as the company with the fastest growth rate over the past five years."
Winners of the 15 regional Technology Fast 50 programs in the United States and Canada are automatically entered in Deloitte's Technology Fast 500 program, which ranks North America's top 500 fastest growing technology companies. For more information on Deloitte's Technology Fast 50 or Technology Fast 500 programs, visit http://www.fast500.com.
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 U.S. member firm of Deloitte Touche Tohmatsu. In the U.S., 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: 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 http://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
SOURCE NuVasive, Inc.