Titan Spine releases half year revenue report

Titan Spine, a medical device surface technology company, announced its revenue for the first half of 2015, reporting more than a 50% sales revenue growth from Jan. 1 to June 30, compared to the same period in 2014.

“The first 6 months of 2015 have seen the greatest accelerated sales growth and surgeon adoption rate in Titan Spine’s history. Not only is the interbody fusion market gravitating toward titanium, but specifically toward titanium devices like ours that have the necessary surface structure to promote osteogenesis and that is validated with science. As a result, our sales revenue is rapidly accelerating, and most telling is the fact that our surgeon retention rate has soared to approximately 85%,” Kevin Gemas, president of Titan Spine, stated in a company press release.

In its report, Titan Spine noted its projected revenues for the entirety of 2015 will likely exceed $32 million. Additionally, 10,000 Titan Spine devices are expected to be implanted in patients this year.

The company had more than 330 surgeon customers in the first half of this year and exceeded 100 U.S. distributors.

Titan Spine fully launched its Endoskeleton TL lateral device in the first quarter of 2015 and is planning for a full commercialization of its new nanoLOCK surface technology in the fourth quarter of this year.

Reference: www.titanspine.com