NuVasive's (NUVA) Precice System Cleared for Pediatric Patients
NuVasive NUVA recently obtained FDA’s 510(k) clearance for its Precice system to be used for treatment of pediatric patients. The all-internal limb lengthening solution belongs to the company’s Specialized Orthopedics division.
The latest development extends the clinical benefits of the Precice system to a wider range of patients.
Significance of Precice System
The proprietary technology of the solution, Precice, is an intramedullary nail that, once implanted, utilizes an External Remote Controller to non-invasively lengthen the limb. This state-of-the-art device has been widely implanted in nearly 50 countries.
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With the expanded clearance, the system becomes accessible to pediatric patients to overcome their limb length deficiencies. Supported by more than 100 peer-reviewed studies, Precice accommodates the changing clinical needs of patients as they heal, grow and age. This minimizes the need for further surgeries throughout the treatment.
More on the News
NuVasive’s Specialized Orthopedics division remains committed to design and innovate disruptive orthopedic solutions for complex orthopedic reconstruction and limb lengthening. The company is focusing on intelligent surgery to further its ability to treat the full continuum of care.
Additionally, the company's asset acquisition efforts in December 2022 have positioned its Specialized Orthopedics division as an early player in the next-generation motorized technology for dynamic orthopedic implants.
Industry Prospects
Per a Research report, the global limb lengthening surgery market was valued at $4.1 billion in 2021 and is expected to witness a CAGR of 8.5% by 2028.
With the improvement in purchasing power, developing countries are becoming more interested in minimally invasive surgical procedures. Further, the rising popularity of cosmetic surgeries with the help of advanced medical technologies is fueling the growth of the global limb-lengthening surgery market.
Recent Developments
In February 2023, NuVasive received FDA’s 510(k) clearance for the usage of the Modulus Cervical interbody implant with a bone void filler. The expanded indications deliver new value in the cervical segment to surgeons and hospitals.
In the same month, the company entered into a definitive agreement with a leading musculoskeletal solutions company, Globus Medical, to combine in an all-stock transaction. Both companies hold a shared vision of innovation to address unmet clinical needs to improve patient care.
Price Performance
In the past six months, NuVasive has mainly underperformed its industry. NUVA shares have declined 15.1% compared to the industry’s rise of 3.6%.
Zacks Rank and Key Picks
NuVasive currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the overall healthcare sector are Haemonetics Corporation HAE, TerrAscend Corp. TRSSF and Henry Schein HSIC. Haemonetics and TerrAscend each sport a Zacks Rank #1 (Strong Buy), while Henry Schein has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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HAE’s earnings beat estimates in all the last four quarters, delivering an average surprise of 10.98%. In the last reported quarter, it reported an earnings surprise of 7.59%.
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Earnings estimates for Henry Schein in 2023 have increased from $4.98 to $5.32 in the past 30 days. Shares of the company have declined 10.9% in the past year, compared with the industry’s fall of 11.3%.
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