San Diego medical device company NuVasive Inc. (Nasdaq: NUVA) announced Monday the Japanese approval of two of its titanium alloy implants -- the CoRoent Large Impacted and CoRoent Large Tapered implants.
The implants are used in posterior spine fusion procedures and are NuVasive's first two interbody fusion cages to be approved in Japan. NuVasive has a focus in medical devices on developing minimally disruptive surgical products and procedures for the spine.
The approvals further the company's ability to participate in the world's second largest spine market.
Alex Lukianov, chairman and CEO of NuVasive, called the approvals an exciting stepping stone.
"For several years, we have been thoughtfully laying the groundwork and making the investments to support a direct operation in Japan, a market estimated to be close to $400 million in size," Lukianov said in a statement. "We are proud to see all of those efforts coming to fruition so that our revenue ramp can begin in earnest at the start of the first quarter."
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