Mequon-based Titan Spine announced today it increased sales 51 percent in 2015.
The company, which makes spinal interbody fusion implants, saw a 51 percent increase in sales of its Endoskeleton devices in 2015 over 2014. Its global sales totaled $33.5 million in 2015. Titan Spine also has a location in Laichingen, Germany.
Titan, which has 61 employees, revealed it has more than 400 hospital customers worldwide and more than 110 distributors. It sold about 10,000 Endoskeleton implants in 2015. The device utilizes the company’s proprietary implant surface technology, which aims to achieve the best host-bone response by promoting bone growth and other factors that advance spinal fusion.
“Titan Spine exceeded growth expectations in 2015, which is a testament to the efforts of our expanding sales team and the growing adoption of titanium and our specific surface technology for interbody fusion devices,” said Steve Cichy, vice president of sales at Titan. “This past year has marked a significant inflection point for our company, and we look forward to continued success in 2016 as we further differentiate our product offerings with the release of our next-generation nanoLOCK surface technology, which represents the only FDA-cleared nanotechnology for the spine.”
“We also achieved several key milestones that have enabled significant advancement in revenue and community recognition,” said Kevin Gemas, president of Titan. “These include securing FDA clearance of our latest interbody device, the TCS for cervical fusion with integrated fixation; expanding our portfolio offering in Europe through a strategic distribution partnership with MBA, thereby further penetrating markets of six EU countries and broadening surgeon adoption; and earning an Orthopedics This Week Spine Technology Award for our enhanced nanoLOCK surface technology.”
“The considerable progress Titan Spine achieved in 2015 is a reflection of the interbody device market’s accelerating shift toward titanium implants, which is due, at least in part, to our continually expanding science and research,” said Peter Ullrich, chief executive officer of Titan.