Titan Spine, a Mequon-based medical device surface technology company focused on developing innovative spinal interbody fusion implants, announced this week that it has achieved 27,000 implantations of its Endoskeleton interbody fusion devices since its inception.
That represents an increase of 25 percent from 2013 for the company that has reached a $26 million annualized sales revenue run-rate.
“The significant growth of Titan Spine observed in 2014 alone has been tremendous, and we are extremely well-positioned to continue our momentum in 2015 and beyond,” said Kevin Gemas, president of Titan Spine. “Over the past year, Titan achieved several milestones that attributed to our global growth and further validated our position as the leader in surface technology.”
Those milestones include seeing expanded use of Titan Spine’s devices in Europe, securing market registration approval in Australia and New Zealand, and obtaining FDA clearance for both the EndoskeletonTL, the first lateral device to feature surface technology, as well as Titan Spine’s next generation nanoLOCK surface technology, the first FDA-cleared interbody fusion devices to feature nanotechnology.
The full launch of the Endoskeleton TL lateral device is planned for the first quarter of 2015 as is the launch of an additional interbody device. Titan Spine is projecting commercialization of the new nanoLOCK surface technology in the fourth quarter of this year.
Steve Cichy, vice president of sales at Titan Spine, said, “Not only did 2014 see significant sales growth, but the science of our surface technology is beginning to resonate deeply within the surgeon and scientific communities…Recognizing the significance of our surface technology, the industry is ramping up its adoption of our devices and science, and we continue to stand by our commitment of offering quality products for successful spinal surgeries. For this reason, we also began offering a five-year warranty on our full line of spinal implants if a revision surgery is required due to nonunion. We are confident in the science validating our surface technology and look forward to further adoption of our innovative spine devices over this next year and beyond.”
Titan Spine has more than 220 hospital customers, an increase of 40 percent from 2013. It is also exceeding 90 U.S. distributors.