SpineGuard’s Q3 Revenue Climbs 2 Percent

SpineGuard, a designer, developer, and marketer of disposable spinal surgery devices, increased its third quarter revenue 2 percent to 1.7 million euros.

The quarter’s tepid growth follows two consecutive periods of double-digit increases. First-quarter revenue jumped 16 percent to 1.76 million euros, while second-quarter proceeds surged 29 percent to 1.87 million euros, according to the company.
 
“After six consecutive quarters of more than 20 percent growth in the U.S., sales growth slowed in the third quarter of 2016. Since the U.S. FDA clearance of the PediGuard Threaded in June, the U.S. team has been actively preparing the commercial launch of this breakthrough product scheduled for the NASS (North American Spine Society) congress at the end of October in Boston,” said Pierre Jérôme, CEO and co-founder of SpineGuard. “Our sales managers and product specialists are already promoting this new extension of SpineGuard’s DSG technology with agents, surgeons and hospital purchasing committees. We experienced similar situations in the past when launching the PediGuard Curved, the PediGuard Cannulated and the PediGuard XS. In the rest of world, the quarter growth was solid, mainly driven by Europe and the Middle East.”
 
Global revenue in the third quarter of 2016 (ended Sept. 30) rose 32,000 euros to 1,678 euros, compared with 1,646 euros in the third quarter of 2015. U.S. proceeds fell 3 percent both as reported and at constant exchange rate, but rest of the world revenue soared 29 percent.
 
For the first nine months of 2016, global revenue increased 15 percent to 5.31 million euros compared with 4.61 million euros over the same period last year. U.S. growth was 15 percent as reported and at the constant currency rate.
 
The company reported 6,324 PediGuard units sold in the first nine months of 2015 compared with 5,580 in the first nine months of 2015, including 3,581 in the United States, representing 57 percent of total units sold.
 
Co-founded in 2009 in France and the United States by Jérôme and Stéphane Bette, SpineGuard brings real-time digital technology into the operating room. Its primary objective is to establish its proprietary DSG (Dynamic Surgical Guidance) technology as the global standard of surgical care, starting with safer screw placement in spine surgery and then in other surgeries. PediGuard, the first device designed using DSG, was co-invented by Maurice Bourlion, Ph.D., Ciaran Bolger, M.D., Ph.D., and Alain Vanquaethem, a biomedical engineer. It is the world’s first and only handheld device capable of alerting surgeons to potential pedicular or vertebral breaches. Close to 50,000 surgical procedures have been performed worldwide with PediGuard. Numerous studies published in peer-reviewed medical and scientific journals have demonstrated the multiple benefits that PediGuard delivers to patients, surgical staff and hospitals. In 2015, SpineGuard started to expand the applications of DSG into pedicle screws through partnerships with French and American surgical companies. SpineGuard has offices in San Francisco, Calif., and Paris, France.