NuVasive, Inc. Acquires Vertera Spine
Elizabeth Hofheinz, M.P.H., M.Ed. • Wed, September 20th, 2017
NuVasive, Inc. has announced the acquisition of Vertera Spine.
Gregory T. Lucier, chairman and CEO of NuVasive, commented to OTW, “NuVasive is continually looking for strategic acquisitions and partnership opportunities. With this acquisition, NuVasive now has the industry’s leading offering of innovative porous interbody material technologies across both PEEK and titanium.”
As the company wrote in its September 7, 2017 news release, “The acquisition of Vertera Spine reflects NuVasive's continued commitment to pursue strategic opportunities as it builds out its advanced materials science portfolio to complement the Company's position as the innovation leader in spine.”
“As a result of this acquisition, NuVasive is now the only medical device company to offer porous interbody technology across both PEEK and titanium materials, thereby addressing the spectrum of surgeons' needs and preferences for interbody implants.”
“Vertera Spine's technology provides a unique three-dimensional porous PEEK architecture to help elicit and encourage bone ingrowth based on pre-clinical studies, a key factor in improved patient outcomes in spinal fusion procedures, using a proprietary processing method that retains strength and durability.”
"With the addition of porous PEEK technology, NuVasive takes the next step in building out its advanced materials science technology focused on delivering the highest level of scientifically driven properties for best spinal fusion rates, including porosity, visualization, surface and structure.”
“This in turn helps to create more predictable, improved outcomes for patients undergoing spine surgery," said Gregory T. Lucier. “Our go-to-market plans include adding Vertera Spine's FDA-cleared products to NuVasive's commercial offerings, as well as applying the porous PEEK technology to our innovation roadmap as we further build out our pipeline of highly differentiated products to increase our market penetration."
Chris Lee, CEO of Vertera Spine, said, "Vertera Spine is excited to join NuVasive to further proliferate our game-changing material technology, as they bring to bear the industry's leading product innovation capability as well as the scale and resources necessary to realize our full potential. Since founding the company in 2013, our goal has been to help reach more surgeon customers and their patients with this disruptive technology. Together, we will now be able to better serve the market and change the lives of patients around the world."
According to the company’s September 7, 2017 news release, “Vertera Spine's existing interbody product lines will be added to NuVasive's portfolio for U.S. commercial sale and distribution including the COHERE Cervical Interbody Fusion Device, and the COALESCE Lumbar Interbody Fusion Device. COALESCE recently received FDA 510(k) clearance for use in anterior, transforaminal, posterior, and lateral lumbar interbody fusion procedures. Additional extensions for the device are planned for TLIF and PLIF procedures in multiple footprint, height, and lordotic angle configurations.”
Gregory Lucier commented to OTW, “Given the complementary nature of our businesses we expect a smooth integration process. We will be appointing leaders from both NuVasive and Vertera to oversee this process.”