San Diego, Calif.-based NuVasive reported increased gross profits for the 2013 first quarter at $120.4 million, up 4.9 percent from the same period last year.
The company's revenue also jumped 5.2 percent from $151.7 million in 2012 to $159.5 million this past quarter.Nuvasive also announced a partial settlement in the patent litigation with Medtronic. Nuvasive will pay $7.5 million to settle phase II of the litigation. The settlement resolves all disputes related to cervical plate patents and gives NuVasive broad access to Medtronic's portfolio of cervical plate patents, according to the release.
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