NuVasive releases fourth-quarter 2020, year-end financial results
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In its year-end 2020 financial statement, NuVasive reported decreased net sales, net income and gross profits throughout the fourth quarter and full year of 2020.
The company reported $291.8 million in net sales during the fourth quarter, a 6% decrease from the prior year period, and $1.051 billion in net sales for the year, a 10.1% decrease from 2019. NuVasive also reported a decrease in net income and gross operating margin in the fourth quarter and full year of 2020.
“NuVasive continues to see significant impact from COVID-19 on elective surgical procedures and patient sentiment, particularly within the U.S. market, which increased late in the fourth quarter,” J. Christopher Barry, CEO of NuVasive, said in the release. “Against a challenging 2020, we made key investments in infrastructure, talent, and innovation to unlock our ability to fulfill our long-term strategy. We are excited about the acquisition of Simplify Medical to advance our C360 portfolio and the 510(k) submission for the Pulse platform. We remain committed to delivering enhanced value to shareholders, surgeons, and employees, while helping change the lives of patients around the globe,” Barry added.
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