Titan Spine Achieves Record Sales in Q1 2017
MEQUON, Wis., April 24, 2017 – Titan Spine, a medical device surface technology company focused on developing innovative spinal interbody fusion implants, today announced that it has achieved record sales revenue for the first quarter of 2017. Additionally, the company recently exceeded 1,000 implantations of its Endoskeleton® titanium interbody fusion devices featuring nanoLOCK® surface technology since its launch in the fourth quarter of 2016. nanoLOCK® is the company’s next-generation surface technology featuring enhanced micro and nano-scaled architecture, proven to significantly improve the osteogenic response it creates.1 Titan Spine will be showcasing nanoLOCK® at booth #2249 during the American Association of Neurological Surgeons (AANS) Annual Scientific Meeting, taking place April 22-26 in Los Angeles.
The company reports the following:
- Record quarterly sales for Q1 2017 that are significantly greater than prior year
- nanoLOCK® has been utilized to date by 74 surgeons in 52 hospitals across 26 states
- nanoLOCK® sales volume has increased by 270% since December 2016
Ted Bird, Chief Commercial Officer of Titan Spine, commented, “Achieving record sales growth in the first quarter this year speaks to the accelerating demand for our surface-enhanced titanium interbody devices and an increasing appreciation of the importance of our proprietary nano-architecture in its ability to drive rapid osteogenesis. The attainment of the 1,000-unit threshold of our nanoLOCK® device in just six months of its commercial availability underscores the market demand for devices that benefit patients in the early post-op timeframe as spine surgeons are now under the microscope for improved early results more than ever before. Our rapid nanoLOCK® adoption has certainly been aided by its sole access to the CMS new technology ICD-10 code for nanotextured interbody fusion devices, which has placed nanoLOCK® in a category all its own and has resulted in a dramatic increase in the number of hospitals and surgeons that have access to it. We could not be more pleased with our sales results to date and the continued successful launch of nanoLOCK®.” Steve Cichy, Executive Vice President of Sales of Titan Spine, added, “Our Q1 achievements reflect the growing demand from our current surgeon base plus new relationships we have made with surgeon adopters that are beginning to embrace the benefits of nanotechnology for their patients. As a result, we have significantly invested in our field sales management team by tripling the number of area Vice Presidents and Regional Managers we employ in just under a year. We are uniquely positioned to continue to take market share throughout the rest of 2017 and beyond.” Titan Spine offers a full line of Endoskeleton® devices that feature Titan Spine’s proprietary nanoLOCK® surface technology, consisting of a unique combination of roughened topographies at the macro, micro, and nano levels (MMN™). This unique combination of surface topographies is designed to create an optimal host-bone response and actively participate in the fusion process by promoting the upregulation of osteogenic and angiogenic factors necessary for bone growth, encouraging natural production of bone morphogenetic proteins (BMPs), downregulating inflammatory factors, and creating the potential for a faster and more robust fusion.2,3,4 All Endoskeleton® devices are covered by the company’s risk share warranty.
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 in the U.S. and portions of Europe through its sales force and a network of independent distributors. To learn more, visit www.titanspine.com.
1Olivares-Navarrete, R., Hyzy S.L., Gittens, R.A., Berg, M.E., Schneider, J.M., Hotchkiss, K., Schwartz, Z., Boyan, B. D. Osteoblast lineage cells can discriminate microscale topographic features on titanium-aluminum-vanadium surfaces. Ann Biomed Eng. 2014 Dec; 42 (12): 2551-61. 2 Olivares-Navarrete, R., Hyzy, S.L., Slosar, P.J., Schneider, J.M., Schwartz, Z., and Boyan, B.D. (2015). Implant materials generate different peri-implant inflammatory factors: PEEK promotes fibrosis and micro-textured titanium promotes osteogenic factors. Spine, Volume 40, Issue 6, 399–404. 3 Olivares-Navarrete, R., Gittens, R.A., Schneider, J.M., Hyzy, S.L., Haithcock, D.A., Ullrich, P.F., Schwartz, Z., Boyan, B.D. (2012). Osteoblasts exhibit a more differentiated phenotype and increased bone morphogenetic production on titanium alloy substrates than poly-ether-ether-ketone. The Spine Journal, 12, 265-272. 4 Olivares-Navarrete, R., Hyzy, S.L., Gittens, R.A., Schneider, J.M., Haithcock, D.A., Ullrich, P.F., Slosar, P. J., Schwartz, Z., Boyan, B.D. (2013). Rough titanium alloys regulate osteoblast production of angiogenic factors. The Spine Journal, 13, 1563-1570.
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