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Nevro Corp. (NYSE: NVRO) | Company Profile, History, Competitors

 

Nevro Corp. (NYSE: NVRO) manufacturers a spinal cord stimulation (Senza SCS) system for the treatment of chronic pain. It was founded in 2006 and headquartered in Redwood City, CA.

Nevro's Senza SCS system delivers pain relief using high frequency therapy and does not rely on paresthesia to mitigate pain. Paresthesia is a tingling “pins and needles” sensation is a side effect of all competitive SCS therapies. Nevro received FDA approval in 2015.

Senza System

The Senza SCS system is different from SCS peers. Its system delivers HF10 (high frequency) therapy and does not rely on paresthesia to mitigate pain as do competitive SCS platforms. Paresthesia, a tingling “pins and needles” sensation is a side effect of all competitive SCS therapies.

Nevro's Senza SCS system received CE Mark approval in 2010, Australian regulatory approval in 2011 and FDA PMA approval in May 2015.

Senzsa has received an FDA superiority label for both predominant leg and predominant back pain indications.

Competitors

The main competitors are Nuvectra's Algovita, Medronic's Restore Ultra MRI, St. Jude's Prodigy MRI and Boston Scientific's Precision Montage MRI.

Management

Rami Elghandour (CEO): Rami Eighandour serves as CEO since 2016. Prior, he was Chief Business Officer at Nevro. He had also worked at Johnson & Johnson and Advanced Neuromodulation Systems.

Andrew H. Gallighan (CFO): Andrew Gallighan serves as CFO since 2010. Prior, he was CFO of Ooma and CFO of Reliant Technologies.

David Caraway PhD (CMO): David Caraway serves as Chief Medical Officer since 2014. Prior, he was CEO of The Center for Pain Relief. He is board certified by the American Board of Anesthesiology. He has a BS in Chemical Engineering from UVA School of Engineering, MD from UVA School of Medicine, and PhD in Biophysics from UVA.

Financials

 $ USD in millions   2013 2014 2015 2016 2017
 Revenues$24 $33 $70 $229 $327 
 Gross Profit$14 $21 $42  $154  $228 
 Operating Profit ($25)($28)($62)($239)($30)
 Net Income($26)($31)($67)($32)($37)
 EPS($29.76)($6.94)($2.54)($1.12)($1.25)