Algovita
On March 14, 2016, medical device manufacturer Greatbatch, Inc. (NYSE:GB) spun off its neuromodulation division under the new name “Nuvectra Corp.” (NASDAQ:NVTR). On the day of the spinoff, Greatbatch shareholders received one share of Nuvectra for every three shares of Greatbatch. The decision to spin off Nuvectra was made when Greatbatch’s Algovita Spinal Cord Stimulation system received FDA approval. Algovita is a spinal cord stimulation system designed to help alleviate chronic pain in the back, arms, and legs. The system uses electrical impulses to prevent pain signals from being received by the brain. It is implanted through a minimally-invasive surgical procedure which sets the system in place. This video explains spin…
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