NuVasive Reports Drop in Net Sales Due to COVID-19 and Healthcare Worker Shortages

November 28, 2021

1 min read

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NuVasive Inc. has announced lower net sales due to the COVID-19 pandemic, health worker shortages and limited availability of specialty products, according to its third quarter 2021 financial report.

NuVasive reported total net sales of $ 270.8 million in the third quarter of 2021, down 8.3% from the $ 295.3 million in total net sales during the period. ‘last year. The company also announced a generally accepted accounting principles (GAAP) operating margin of 2.4% and a diluted GAAP loss per share of $ 0.42, according to the release.

“The third trimester presented unexpected challenges for elective surgeries due to the negative impact of the COVID-19 resurgence and health worker shortages,” J. Christophe Barry, CEO of NuVasive said in the statement. “Despite these external factors, our strategy remains unchanged. The company is well positioned with multiple growth vectors to create added value for our stakeholders in 2022 and beyond. With the recent commercial launch of Pulse and the continued adoption of our C360 portfolio – evidenced by the Simplified Cervical Disc – I am confident in our ability to further transform surgery, advance care and change patient lives. around the world, ”Barry added.

Ann J. Cox