NuVasive chairman & CEO Alex Lukianov touts expectation-shattering preliminary figures for the company's 2012 sales and talks about integration and globalization as important drivers for the year ahead.
Medical device company NuVasive (NSDQ:NUVA) got a big boost this morning after releasing preliminary results for 2012, with a jocular chairman & CEO Alex Lukianov sharing some of the highlights with an audience at the J.P. Morgan healthcare conference in San Francisco.
NuVasive beat its own estimates for 2012 with full-year revenues of about $619 million, compared to previous guidance of $601-$606 million for the year.
That represents a 15% spike in growth over 2011 for NuVasive, which Lukianov variously referred to as a "market-maker," a "share-taker" and a "destructive force."
Wall Street responded with a 12.3% spike for NUVA shares, which were trading at $17.70 as of about 1 p.m. today.
Lukianov joked about the larger headwinds facing NuVasive, including push-back from insurers who aren't fully sold on minimally invasive spinal surgery procedures.
"If you consider the state of spine, things could be worse," he said. "I mean, we could have a socialist president in charge ... well, actually, never mind."
NuVasive has taken large steps to advance its position in the spinal surgery market, which Lukianov characterized as one with significant "share-shifting" and portfolio cannibalization among the segment's top players.
Going forward, the company's strategy involves paring down its inventory by combining its offerings into fewer platforms.
A Delaware state jury reportedly slaps Boston Scientific with a $100 million judgment in a pelvic...
A former accountant for SpineFrontier sues the orthopedic company for wrongful termination, alleging...
Johnson & Johnson accepts a binding, $2 billion offer from Cardinal Health for its Cordis...
Si-Bone says it raised a $21 million funding round and appointed Laura Francis as its new CFO.
The China Food & Drug Administration jacks up its registration fees for medical devices and drugs...