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Nevro Corp. is a global medical device company headquartered in Redwood City, California, specializing in innovative solutions for chronic pain management. The company develops and markets advanced neuromodulation systems, including its proprietary 10 kHz Therapy™, which has transformed the lives of over 115,000 patients worldwide. Nevro's offerings include spinal cord stimulation platforms, SI joint fusion products, and support services designed to improve patient outcomes and enhance physician practice management.
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HFX™ Spinal Cord Stimulation (SCS) Platform - Provides evidence-based neuromodulation systems, including the Senza® SCS system, for treating chronic pain conditions such as back and leg pain, non-surgical back pain (NSBP), and painful diabetic neuropathy (PDN). The platform features the proprietary, paresthesia-free 10 kHz Therapy™, which has demonstrated superior efficacy compared to traditional SCS therapies.
- Senza HFX iQ™ - Offers a versatile range of waveforms, including the proprietary 10 kHz Therapy™, for personalized chronic pain treatment.
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SI Joint Fusion Products - Includes minimally invasive devices for treating chronic sacroiliac joint (SI joint) pain, acquired through the purchase of Vyrsa Technologies.
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Support Services - Enhances patient and physician experiences through tools like the HFX Coach™ for patient support and HFX Cloud™ for providing actionable insights to physicians.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Kevin Thornal ExecutiveBoard | President and CEO | None | Appointed CEO in April 2023; previously Group President of Global Diagnostic Solutions at Hologic, Inc.; over 20 years of experience in the medical device industry. | View Report → |
Christofer Christoforou Executive | Chief Operating Officer | None | Joined in July 2016; promoted to COO in May 2024; extensive experience in R&D and technical operations. | |
David Caraway, M.D. Executive | Senior Vice President and Chief Medical Officer | None | Joined in April 2014; nationally recognized expert in chronic pain treatment; extensive experience in interventional pain medicine. | |
Donald A. Middlebrook Executive | Senior Vice President, Clinical, Regulatory, and Quality | None | Joined in January 2020; previously VP of Corporate Quality and Regulatory Affairs at Thoratec Corporation; extensive regulatory and quality leadership experience. | |
Greg Siller Executive | Senior Vice President and Chief Commercial Officer | None | Appointed in June 2023; previously VP and GM of Stryker Interventional Spine; 16 years at Stryker in various leadership roles. | |
Kashif Rashid Executive | Senior Vice President, Corporate Development and Chief Legal Officer | None | Joined in December 2017; previously VP, Legal at Atara Biotherapeutics; extensive legal and corporate development experience. | |
Peter A. Socarras Executive | Vice President, General Counsel, and Corporate Secretary | None | Joined in October 2012; extensive experience in intellectual property and corporate governance. | |
Roderick H. MacLeod Executive | Senior Vice President and CFO | None | Joined in June 2020; previously VP of Finance at Stryker Endoscopy; extensive finance leadership experience in the medical device industry. | |
Shana Ross Executive | Senior Vice President and Chief Human Resources Officer | None | Joined in August 2023; previously VP, HR and Chief Diversity Officer at Bayhealth Medical Center; extensive HR leadership experience. | |
Elizabeth Weatherman Board | Director | Board member at Insulet Corporation, Vapotherm, Inc., Silk Road Medical, Inc. | Joined in March 2019; Special Limited Partner at Warburg Pincus LLC; extensive investment and healthcare experience. | |
Karen Prange Board | Director | Board member at Embecta Corp., Atricure, Inc., ViewRay, Inc., WS Audiology | Joined in December 2019; extensive healthcare leadership experience, including roles at Henry Schein and Boston Scientific. | |
Kevin O’Boyle Board | Director | Audit Committee Chairperson at Sientra, Inc. | Joined in March 2019; extensive financial and operational leadership experience, including CFO roles at NuVasive and Advanced Biohealing. | |
Kirt P. Karros Board | Director | Senior VP, Finance and Treasurer at Hewlett Packard Enterprise; Executive Chairman of H3C Technologies | Appointed in February 2024; extensive financial and investment experience, including roles at Relational Investors LLC. | |
Michael DeMane Board | Lead Director | Board member at private companies | Joined Nevro in March 2011; previously CEO and Executive Chairman of Nevro; extensive leadership experience in the medical device industry, including at Medtronic. | |
Shawn T. McCormick Board | Director | Board member at Inspire Medical Systems, Inc. | Joined in September 2014; extensive financial leadership experience, including CFO roles at Tornier N.V. and ev3 Inc.; serves on the board of Inspire Medical Systems. | |
Susan Siegel Board | Director | Board member at Illumina, Inc. and Align Technology, Inc. | Joined in December 2020; previously Chief Innovation Officer at GE and CEO of GE Ventures; extensive experience in healthcare and life sciences. |
- With U.S. trial procedures declining by approximately 15.2% and ongoing market challenges, what specific strategies are you implementing to reverse this trend and drive growth in 2025, especially considering the cuts in DTC advertising and sales force changes?
- Given that you've significantly reduced R&D spending—down about one-third—how do you plan to balance these cost cuts with the need for future innovation to maintain competitive advantage?
- Your guidance implies a substantial increase in operating expenses in the fourth quarter; is this primarily due to increased DTC spending and sales force expansion, or are there other factors contributing to this rise, and how will it impact profitability?
- Core SCS trials have been declining over the past three years, with larger declines each quarter; do you feel a need to generate new clinical data to support SCS use in the core market, and how do you plan to regain momentum amid stagnating interest?
- After aggressive cost-cutting measures, what gives you confidence that you haven't trimmed essential operations that could hinder revenue growth in 2025, and how will you ensure that further headcount reductions won't negatively impact commercial execution?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Vyrsa Technologies | 2023 | Nevro Corporation completed the acquisition of Vyrsa Technologies in November 2023, paying an upfront cash of approximately $40 million with an additional $35 million in contingent consideration based on development and sales milestones. The deal strategically expands Nevro’s chronic pain portfolio by adding SI Joint Fusion devices (NevroV1™, NevroFix™, NevroPro™) and includes intangible assets valued at $27.6 million with $0.7 million in amortization recognized in Q3 2024. |
No recent press releases or 8-K filings found for NVRO.