NuVasive released its next generation monitoring platform with computer-assisted surgery applications to enhance speed and efficiency.
An important aspect of the company's philosophy is facilitating reproducible outcomes in spine surgery, and procedure integration of neurophysiology and computer-assisted surgery technologies helps to meet their goals. Here are five things to know about the new product release:
1. The NVM5 V2.0 hosts a comprehensive set of intraoperative technologies specifically designed for spine surgery. The system includes the sensory monitoring modality for multimodality monitoring of the spinal cord and peripheral nerves. The system also has refinements to the recently-launched spinal rod-bending technology Bendini.
2. The system is a medical device intended for intraoperative neurophysiologic monitoring during spine surgery. The device provides information directly to surgeons to help assess a patient's neurolophysiologic status. The platform's capabilities include:
• Nerve avoidance during XLIF to navigate the psoas
• Nerve proximity information during pedicle cannulation and screw placement
• Computer-assisted, rod-bending technology
• Nerve root monitoring
• Spinal cord monitoring
• Peripheral sensory nerve monitoring
3. The system provides information by electrically stimulating nerves via electrodes located on surgical accessories and monitoring electromyography, transcranial motor evoked potential or somatosensory evoked potential responses of nerves.
4. The new platform leverages NuVasive's 12 years of fexperience in the field. There have been more than 250,000 spine surgeries performed using the company's proprietary platform. "NVMx Version 2.0 demonstrates our continued commitment to developing innovative adjunctive technologies that assist in the safety and reproducibility of surgical outcomes for spine patients, while also improving operating room economics," said NuVasive President of Global Products and Services Pat Miles.
The company has more than 90 products spanning lumbar, thoracic and cervical applications, neuromonitoring services and a biologics portfolio. The company went public 10 years ago and celebrated this landmark in May by ringing the NASDAQ bell.
5. The company is the fourth-largest player in the $8.7 billion global spine market and is aiming to become a $1 billion start-up in the future. In the first quarter of 2014, the company reported net income of $851,000 and gross profit of $134.2 million. The company's revenue also increased to $177.5 million; however the company did report a net loss of $18.3 million.
In 2013, the company earned $685.17 million in revenue. During the fourth quarter, NuVasive purchased Ohio-based contract manufacturing partners, ANC, which is expected to boost its workforce by 25 percent this year.
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