NuVasive, Inc. (NASDAQ:NUVA) Q2 2017 Earnings Conference Call - Preliminary Transcript

Jul 27, 2017 • 04:30 pm ET

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NuVasive, Inc. (NASDAQ:NUVA) Q2 2017 Earnings Conference Call - Preliminary Transcript

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Executive
Greg Lucier

With incredible opportunities ahead, we are taking steps to refine our operating structure to tightly align strategy, product development and marketing and integrate our global commercial channels, while scaling up our global operational capabilities as we cross over the 1 billion revenue mark this year and execute on our plans to expand the operating - adjusted operating margins to 25% over time.

As part of this optimized structure, Matt Link is taking on key leadership role as Executive Vice President, Strategy, Technology and Corporate Development, a newly created position to further drive NuVasive's innovation agenda. Matt, who has most recently served as our leader for US commercial, is a long tenured NuVasive veteran with extensive knowledge of the US marketplace and deep understanding of the spine industry as well as surgeon and hospital dynamics. There's no one better-positioned to understand the needs of our surgeon customers as we continue to deliver technologies that drive surgical predictability.

I'm also pleased that Pat Miles, Vice Chairman and member of the NuVasive's Board of Directors, will be an Adviser to this new function by providing his unique perspective to the innovation to create an unrivaled technology roadmap. This is in addition to his current focus on enhancing NuVasive's strategic plans for the future spine surgery by supporting our myriad of investments in emerging technology companies. We're also going to combine our U.S. commercial and international sales functions into a global commercial organization. Skip Kill, who joined us in early June to lead our international operations, is appointed Head of Global Commercial. Skip has more than 15 years of experience as a global business leader managing and growing complex global commercial enterprises, both internationally and domestically within the health care and spine technology industries. I could not be more thrilled about him taking on these additional responsibilities.

And we're also elevating Steve Rozow into an expanded role, heading up our new global process transformation function, reporting to me. Steven is an experienced medical device leader, including more than 20 years with Zimmer. He joined NuVasive in 2015 and has led dramatic improvements in our supply chain and fulfillment capabilities as well as the successful development of our new manufacturing facility here in West Carrollton, Ohio.

I want to thank Jason Hannon for his countless important contributions during his successful 12 years with the company. He has decided to step down from his position as President and COO to pursue other interests and will remain an adviser to the company for the balance of the year. We wish him the absolute best going forward. Unrelated to these organizational updates, Quentin Blackford has resigned to pursue another opportunity outside the spine industry and will remain with NuVasive until August 25. I want to thank Quentin for his leadership and helping us focus on increasing profitability and becoming a more financially astute organization.

I'm pleased to announce that Vickie Capps, in her role as an independent member of NuVasive's Board of Directors and a member of the