SAN DIEGO, June 28 /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 added to the Russell Microcap(TM) Index, effective as of the close of market on June 24, 2005. The Russell Microcap(TM) Index is comprised of the smallest 1,000 companies in the small-cap Russell 2000(R) Index plus the next 1,000 companies, based on a ranking of all U.S. equities by market capitalization. This new index offers investors a comprehensive, unbiased barometer to compare a particular company's performance against a genuine micro-cap marketplace of stocks.
Alexis V. Lukianov, Chairman and Chief Executive Officer, said, "We are pleased that NuVasive has been added to the Russell Microcap(TM) Index. We expect our inclusion in this prestigious index to further raise the visibility of our Company within the investment community."
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. More than $2.5 trillion in assets currently are benchmarked to them. Investment managers who oversee these funds purchase shares of member stocks according to that company's weighting in the particular index.
Companies in the Russell Microcap(TM) Index were ranked as of May 31 by total market capitalization and weighted based on free-float adjustment. Free-float adjustment means stocks are weighted by their available market capitalization, which is calculated by multiplying the primary closing price by the available shares.
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.
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(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).
NuVasive cautions you that statements included in this press release that are not a description of historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements 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. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements. The potential risks and uncertainties that could cause actual growth and results to differ materially include, but are not limited to, risks associated with NuVasive's ability to continue to develop and commercialize its products, NuVasive's ability to properly manage the growth of its business, and other risks and uncertainties more fully described in NuVasive's 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