SAN DIEGO, CA–(Marketwired – April 29, 2015) – NuVasive, Inc. (NASDAQ: NUVA) (“NuVasive” or the “Company”), a medical device company focused on developing minimally disruptive surgical products and procedures for the spine, today announced that it has reached an agreement in principle with the U.S. Department of Justice (“DOJ”) related to the previously disclosed subpoena issued to the Company in 2013 by the Office of Inspector General of the Department of Health and Human Services (“OIG”). Subject to completion of a definitive written settlement agreement, the Company has agreed to pay $13.8 million, including fees, to the United States to resolve this matter. The Company does not currently anticipate entering into a corporate integrity agreement with the OIG as part of the settlement. Finalizing the written settlement agreement could take several months.
The Company cooperated fully with the inquiry, has responded to the concerns raised by the government, and has continued to work hard to enhance and sustain a culture of compliance throughout its operations. Resolution of the matter avoids the time and expense of a potentially lengthy litigation process.
