NuVasive introduces its new Precept posterior fixation system in Japanese patients, hoping to use the device to break into the country’s spinal market.
California medical device company NuVasive Inc. (NSDQ:NUVA) debuted its Precept spinal implant in Japan, treating the 1st patients with the posterior fixation system.
The device, which won Japanese regulatory approval in July, is part of NuVasive’s Precept line of “minimally disruptive posterior fixation solutions,” and the Japanese initiation puts NuVasive in the world’s 2nd largest spine market, the company said.
“We have our sights set on changing spine surgery and improving patient outcomes in Japan, an exciting new market for us,” chairman & CEO Alex Lukianov said in prepared remarks. “With the approval and launch of Precept, we can introduce Japanese surgeons to additional innovation within our comprehensive portfolio of procedurally integrated spine solutions.”
NuVasive is making bold moves in Japan, having just earlier this year opened its Tokyo headquarters. Lukianov told MassDevice.com earlier this year that global markets, including Japan, represent a growing share of NuVasive’s revenues. International revenues made up about 10% of the company’s top line, and Lukianov hoped to see that increase to 20%, he said.
Today’s news didn’t seem to make many waves on Wall Street where NUVA shares were pretty flat, trading at a 0.6% decrease at $23.91 as of about 12:00 p.m.
Source: www.massdevice.com; Arezu Sarvestani; September 26, 2013.