Titan Spine Reports Significant Sales Growth for First Half of Year

Privately held Titan Spine LLC, a medical device surface technology company focused on developing innovative spinal interbody fusion implants, reports substantial growth in the first half of 2015, with more than 50 percent sales revenue growth January 1 through June 30, compared to the same period in 2014.

“The first six 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,” said Kevin Gemas, president of Titan Spine. “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 percent. Physicians’ rapid rate of adoption of our Endoskeleton line of titanium spinal implants, combined with our planned launch of the full line of implants featuring our new NanoLock surface technology in the fourth quarter of this year, has resulted in the need for additional resources to increase manufacturing. This accelerated growth and market shift toward titanium implants has led to further investment from our current investors in order to meet demand.”

“The substantial increase in sales so far this year reflects the spinal community’s growing understanding that early bone growth is a biochemical phenomenon rather than a biomechanical one,” said Steve Cichy, vice president of sales. “The scientific data we continue to generate unanimously points to the fact that our titanium surface technology creates an enhanced bone-forming environment at the critical cellular level whereas PEEK (polyether ether ketone) promotes inflammation and fibrosis. And while we are flattered that several of our competitors continue to reference our research to claim equivalence, our studies are specific to our proprietary surface, and any inference that the same osteogenic results can be obtained from their additive surfaces is scientifically invalid. 2015 has been a tipping point thus far for Titan Spine and our proprietary subtractive surface. And the future will only be brighter with the pending launch of our enhanced NanoLock surface, the only U.S. Food and Drug Administration-cleared nanotechnology for the spine.”

Titan Spine’s leadership projected more than $32 million in sales for 2015 and predicts that more than 10,000 of the company’s devices will be implanted in 2015.

The company is planning for full commercialization of new NanoLock surface technology in Q4 this year.

Furthermore, recent reports have shown that over the last few years, smaller orthopedic companies like Titan Spine have collectively posted an average growth of 15 percent, compared to major companies posting only single-digit growth per year, effectively challenging the major companies and eroding their market share, according to a recent report by Avicenne, reported during the Implants 2015 conference in Paris in June.

Titan Spine is located in Mequon, Wis., and Laichingen, Germany.