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Small Bone Innovations, Inc., announces ‘above market’ revenue growth in first half of 2010
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Small Bone Innovations, Inc. (SBi), a privately held orthopedics company, reported revenue growth of 35% in the first half of 2010. SBi revenues increased 45% in the first quarter and 26% in the second quarter.
Revenues in North America grew 44% in the first quarter, 33% in the second quarter and 38% in the first half of 2010, the company noted in a release. International revenues rose 47% (39% in constant currency) in the first quarter, 15% (21% in constant currency) in the second quarter and 30% (30% in constant currency) in the first half of the year.
“I am extremely pleased to announce SBi’s impressive growth throughout the first half of the year,” Anthony G. Viscogliosi, chairman and CEO of SBi, stated in a release. “This performance is especially noteworthy given the fact that global orthopedic revenue growth has been slowing in the second quarter as elective surgeries are down due to a soft economy. SBi’s significantly above market growth rates can be attributed to our fast growing upper and lower limb product systems, highlighted by S.T.A.R., our total ankle replacement system that has been implanted in over 17,000 patients worldwide and is growing well, complemented by a solid core business. I am also happy to note that we anticipate that at least 10 of our product systems will each generate well in excess of $1 million in revenues this year, exhibiting the breadth of our SB&J portfolio.”
S.T.A.R., which received pre-market approval (PMA) from the FDA on May 27, 2009, is indicated for replacing a painful arthritic ankle joint due to osteoarthritis, post-traumatic arthritis or rheumatoid arthritis. S.T.A.R. is the only three-piece, cementless, mobile-bearing total ankle replacement system to receive a PMA from the FDA.