TITAN SPINE REPORTS 2011 YEAR-TO-DATE FINANCIAL RESULTS Increased Revenues 70% Over Prior Year
MEQUON, Wis. - Titan Spine, a medical device surface technology company focused on the development of innovative spinal interbody fusion implants, announced today the following 2011 financial results:
- Increased first half sales revenues 70% over prior year
- Exceeded first half sales forecast
- Increased first half net income 135% over prior year
- Increased the number of surgeons using Titan Spine implants by 60% year-to-date
- Surpassed 6,000 total device implantations since the company’s inception
The implants, which consist of the Endoskeleton® TA (ALIF), TT (TLIF), TO (PLIF and Oblique), and TC (cervical), feature a unique titanium microtopography that is designed to stimulate a superior osteogenic response.
“Our continued success is a reflection of the market’s growing demand for innovative interbody fusion devices,” said Steve Cichy, Vice President of Sales for Titan Spine. “As spine surgeons continue to be pressured on their biologic material of choice, they are increasingly turning to the cell signaling properties that Titan Spine’s interbody implants have to offer. Our customers have been particularly interested in the ability of the surface of our devices to stimulate localized BMP production through the body’s natural healing process.”
Kevin Gemas, President of Titan Spine, commented, “We are very pleased with our financial performance to date. Through an upcoming expansion to our product line and release of cellular, histological, and clinical study results, we are poised for sustained significant sales growth for the remainder of 2011 and beyond.”
About Titan Spine
Titan Spine, LLC is a privately-owned medical implant surface technology company in Mequon, Wisconsin that is focused on the design and manufacturing of proprietary interbody fusion devices for the spine. Founded in 2006, the company is committed to advancing the science of surface engineering to enhance the treatment of various pathologies of the spine that require fusion.
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