Annualized Sales Revenue Run-Rate Closes in on $20 Million
MEQUON, Wis.–(BUSINESS WIRE)–Titan Spine, a medical device surface technology company focused on developing innovative spinal interbody fusion implants, today announced it has reached 18,000 implantations of its Endoskeleton®interbody fusion devices since its inception and is rapidly approaching a $20 million annualized sales revenue run-rate. These two achievements reflect the continuing rapid surgeon adoption of its proprietary interbody fusion devices and mark a paradigm shift toward devices engineered with roughened titanium surface technology.
In addition, Titan Spine provided the following updates:
- Currently implanting more than 5,300 implants per year
- Greater than 150 surgeon customers
- Exceeding 60 U.S. Distributors
- 40% year-over-year revenue growth for the nine month period ended September 30, 2013
- No Medical Device Reports (MDR’s) since the company’s inception
- Recent distribution agreement with Biomet Spine is expected to accelerate sales growth in Germany
Kade Huntsman, M.D., Orthopedic Spine Surgeon with the Salt Lake Orthopaedic Clinic in Salt Lake City, Utah, states, “One of the reasons that I believe Titan Spine’s interbody devices have resonated well with surgeons is because of the strength and design of the implant combined with the cell signaling properties of its surface technology. I like that its roughened surface technology is created from a reductive process and does not possess a coating that could have the potential for delamination or degradation. I feel very confident implanting Titan’s Endoskeleton® devices and am pleased to include them in my practice.”
The full line of Endoskeleton® devices features Titan Spine’s proprietary implant surface technology, consisting of a unique combination of roughened topographies at the macro, micro, and cellular levels. The combination of surface levels is designed to create an optimal host-bone response and actively participate in the fusion process by promoting new bone growth, encouraging natural production of bone morphogenetic proteins (BMPs) and creating the potential for a faster and more robust fusion.
Kevin Gemas, President of Titan Spine, commented, “We are encouraged to see several other companies that are adopting the Titan Spine approach by launching interbody devices with roughened surfaces and beginning to acknowledge shortcomings with their standard PEEK and smooth titanium offerings. We have been optimizing our surface technology and its bone formation effects for the past six years through collaboration with thought leaders in materials science and biomedical engineering and feel that our commitment to be the leaders in surface technology is the reason we are starting to see rapid acceleration in our sales growth.”
About Titan Spine
Titan Spine, LLC is a surface technology company focused on the design and manufacture of interbody fusion devices for the spine. The company is committed to advancing the science of surface engineering to enhance the treatment of various pathologies of the spine that require fusion. Titan Spine, located in Mequon, Wisconsin and Laichingen, Germany, markets a full line of Endoskeleton® interbody devices featuring its proprietary textured surface through its sales force and a network of independent distributors. To learn more, visit www.titanspine.com.