WinstonSalem, NC: April 30, 2009: VG Innovations, Inc (VGI), announced today that it is expanding its corporate and satellite offices to meet surgeon demand for its revolutionary minimally invasive spine stabilization system, VerteLoc™.
“We are essentially doubling our operations capabilities to meet the demand for VerteLoc™,” stated VGI’s President and CEO, Dan Grayson. “The average number of monthly surgical procedures has increased 293% and average monthly sales revenue is up 266% versus 2008, as the company has been successful in the generation of new business as well as the conversion of competitive business. We expect this trend to continue as our plans call for the addition of distribution channels, both domestic and international, and the necessary internal support personnel to exceed our goals. Simply stated, surgeons across the country are beginning to see the benefits that the VerteLoc™ system offers their patients suffering from debilitating back pain.”
“The opportunity to expand will allow VGI to further support our surgeon users, distributors and the local economies at both our headquarters in WinstonSalem,
NC and satellite office in Tampa, FL,” Grayson continued. “VGI will officially make the transition into our larger facilities on June 1, 2009. We expect to add additional internal personnel shortly thereafter.”
VerteLoc™ is designed to address minor spinal instabilities by effectively stabilizing the spinal facets, which are multidirectional joints of the spinal column. The procedure should prolong or prevent more invasive spine procedures in indicated patients, which would provide significant benefits to the quality of life versus traditional methods of spinal fusion.