SAN DIEGO, Aug. 19 NuVasive, Inc.(Nasdaq: NUVA), a medical device company focused on developing products forminimally disruptive surgical treatments for the spine, announced today thatit has obtained a complaint brought by Medtronic Sofamor Danek alleging patentinfringement involving certain NuVasive products.
Alex Lukianov, NuVasive's Chairman and CEO, said, "It is not surprisingthat Medtronic would attempt to intimidate NuVasive with this suit, sinceNuVasive represents a growing threat to Medtronic's spine business. Medtronicdid not notify us of the lawsuit prior to filing it, and has not been incontact with us yet. We have obtained a copy of the complaint and are in theprocess of reviewing it and assessing our defenses. Based on our initialreview, we do not expect our existing operations to be significantly disruptedas we respond to this lawsuit. Given the existing patents referenced byMedtronic in the complaint, we are also analyzing our potential counterclaimsbased on our own significant patent portfolio and intellectual propertyrights."
Mr. Lukianov continued, "We would prefer to compete with Medtronic in themarket, but we are prepared to defend ourselves in the courtroom so thatpatients can continue to experience the innovations that NuVasive has broughtto the field of spinal care. The timing of this lawsuit is strange given thefact the allegedly infringing products in some instances have been on themarket for several years. Nonetheless, we will vigorously defend ourselves inthis action. More importantly, we will stay focused on building our businessand remaining a leader in the development of creative spine surgery productsthat benefit patients."
NuVasive is a medical device company focused on the design, developmentand marketing of products for the surgical treatment of spine disorders. TheCompany's product portfolio is focused on applications in the over $4.2billion U.S. spine fusion market. The Company's current principal productoffering includes a minimally disruptive surgical platform called MaximumAccess Surgery, or MAS(R), as well as a growing offering of cervical andmotion preservation products.
The MAS platform offers advantages for both patients and surgeons such asreduced surgery and hospitalization time and faster recovery. MAS combinesthree categories of current product offerings: NeuroVision(R) a proprietarysoftware-driven nerve avoidance system; MaXcess(R) a unique split-blade designretraction system; and specialized implants, like SpheRx(R) and CoRoent(R),that collectively minimize soft tissue disruption during spine surgery whileallowing maximum visualization and surgical reproducibility. NuVasive'sproduct offering is also focused on cervical internal fixation products andits R&D pipeline emphasizes both MAS and motion preservation.
NuVasive cautions you that statements included in this press release thatare not a description of historical facts are forward-looking statements thatinvolve risks, uncertainties, assumptions and other factors which, if they donot materialize or prove correct, could cause Company's results to differmaterially from historical results or those expressed or implied by suchforward-looking statements. The potential risks and uncertainties that couldcause actual growth and results to differ materially include, but are notlimited to: the risk that the patent litigation described in this pressrelease will result in significant expenses for the Company; the risk thatthis litigation could result in damages awards against the Company, includingthe possibility of treble damages if the Company is ultimately determined tohave infringed; the risk that this litigation will divert the attention ofmanagement; the risk that the Company's defenses or counterclaims to thislitigation may prove ineffective; the uncertain process of seeking regulatoryapproval or cle