nuva-8k_20190107.htm

 

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 7, 2019

 

NuVasive, Inc.

(Exact name of registrant as specified in its charter)

 

 

Delaware

000-50744

33-0768598

(State or Other Jurisdiction

of Incorporation)

(Commission

File Number)

(I.R.S. Employer

Identification Number)

 

 

 

7475 Lusk Boulevard, San Diego, California 92121

(Address of principal executive offices) (Zip Code)

 

 

 

(858) 909-1800

(Registrant’s telephone number, including area code)

 

 

 

Not Applicable

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. 

 



Item 2.02

Results of Operations and Financial Condition.

On January 7, 2019, NuVasive, Inc. issued a press release announcing preliminary unaudited revenue results for the fourth quarter and fiscal year ended December 31, 2018. A copy of this press release is furnished as Exhibit 99.1 hereto.

The information contained in this Current Report and the Exhibit hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

 

Item 9.01

Financial Statements and Exhibits.

 

 

(d)

Exhibits.

 

 

Exhibit No.

Description

99.1

Press release issued by NuVasive, Inc. on January 7, 2019



SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

 

 

NUVASIVE, INC.

 

 

 

Date: January 7, 2019

 

/s/ Rajesh J. Asarpota

 

 

Rajesh J. Asarpota

 

 

Executive Vice President and Chief Financial Officer

 

nuva-ex991_49.htm

 

Exhibit 99.1


 

NEWS RELEASE

 

NUVASIVE ANNOUNCES PRELIMINARY UNAUDITED FOURTH QUARTER AND FULL YEAR 2018 REVENUE RESULTS



SAN DIEGO
January 7, 2019 – NuVasive, Inc. (NASDAQ: NUVA), the leader in spine technology innovation, focused on transforming spine surgery with minimally disruptive, procedurally integrated solutions, today announced preliminary unaudited revenue results for the fourth quarter and full year 2018. The Company expects fourth quarter 2018 revenue to be approximately $288 million and full year 2018 revenue to be approximately $1,102 million.

 

NuVasive preliminary revenue results for full year 2018 reflect approximately 7% growth on a reported and constant currency basis, compared to revenue of $1,027 million for full year 2017. On an organic basis, excluding the impact of the SafePassage acquisition and foreign currency, full year 2018 revenue growth was approximately 5%.

 

“In the fourth quarter and full year 2018, we continued to grow above market, driven by new product introductions and strong performances in key global geographies,” said J. Christopher Barry, chief executive officer of NuVasive. “We are encouraged by our mid-single digit growth in a stable U.S. spine market, while experiencing some temporal surgeon case volume disruptions that impacted the fourth quarter results, along with a delay in timing of capital equipment orders.

“In 2018, NuVasive launched more than a dozen new technologies and initiated several strategic partnerships—all designed to support innovation and help deliver better, more predictable patient outcomes,” continued Barry. “The Company will continue to focus on delivering disruptive technology with a focus on the core hardware portfolio and navigation, imaging and robotics, while enhancing operational excellence and strategically investing in profitable growth areas in 2019.”

 

2019 Financial Outlook

NuVasive will report its full financial results for 2018 and provide its financial outlook for 2019 during its earnings announcement planned for late February.

 

J.P. Morgan Healthcare Conference on Monday, Jan. 7, 2019

NuVasive will participate in the J.P. Morgan Healthcare Conference on Monday, Jan. 7, 2019 at the Westin St. Francis Hotel in San Francisco, Calif. Barry will represent the Company in a presentation scheduled for 3:30 p.m. PT.

 

A live webcast of the presentation will be available online from the Investor Relations page of the Company’s website at www.nuvasive.com. A replay of the presentation will remain available on the website for 30 days after the applicable live webcast.

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About NuVasive

NuVasive, Inc. (NASDAQ: NUVA) is the leader in spine technology innovation, focused on transforming spine surgery and beyond with minimally disruptive, procedurally integrated solutions designed to deliver reproducible and clinically-proven surgical outcomes. The Company's portfolio includes access instruments, implantable hardware, biologics, software systems for surgical planning, navigation and imaging solutions, magnetically adjustable implant systems for spine and orthopedics, and intraoperative monitoring service offerings. With over $1 billion in revenues, NuVasive has an approximate 2,400-person workforce in more than 40 countries serving surgeons, hospitals and patients. For more information, please visit www.nuvasive.com.

 

Forward-Looking Statements

NuVasive cautions you that statements included in this news 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. Forward-looking statements include, but are not limited to, statements regarding the Company’s expected revenue results for the fourth quarter and full year 2018.  The Company’s expectations for fourth quarter and full year 2018 revenue results are preliminary and unaudited and are subject to adjustment in the ongoing review and audit procedures by the Company’s external auditors. The following important factors, among others, could cause actual results to differ materially from those set forth in the forward-looking statements: the completion of the audit of the Company’s 2018 financial results, including the risk of adjustment to its preliminary fourth quarter and full year revenue results; the risk of further adjustment to future financial expectations; unanticipated difficulty in selling products, generating revenue or producing expected profitability; and the other risks and uncertainties described in NuVasive's news 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.

 

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Investor Contact:

Suzanne Hatcher

NuVasive, Inc.

858-458-2240

investorrelations@nuvasive.com

 

Media Contact:

Jill Howard
NuVasive, Inc.

858-480-0571

media@nuvasive.com

 

 

 

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