GSA Medical USA’s Q1 Sales Rise 12 Percent

First-quarter sales at GSMedical USALLC are up 12 percent compared with last year, a solid showing that could help the company capture additional spinal market share in 2014.

Privately held GS Medical reports that year-to-date sales have increased by double digits compared with the same period last year. Executives expect the company to achieve its eighth consecutive year of spinal market share growth.

“We achieved a record first quarter 2014 and full-year sales performance for fiscal 2013, with continued double digit growth. During the first quarter, sales revenue grew by approximately 12 percent as a result of strong sales performance with our domestic distribution partners, as well as increased penetration in key international markets within the Americas,” said Joseph Jin, GS Medical’s executive vice president of the Americas. “We believe these results are a testament to the value and strong appeal of our product portfolio, and the commitment of our distribution partners who are passionate about the GS Medical brand.We are now in a strong position on a number of measures, including increased cash flow, reduced debt and expenditures, and a robust product commercialization pipeline.”

Bigwigs attributed the strong first-quarter growth to a rapid decision-making approach that draws onGS Medical’s global business strategy as well as its ability to balance new product innovation with its existing portfolio of thoracolumbar devices.

“An aggressive launch cycle will continue with the regulatory clearance of products currently in submission with the FDA [U.S. Food and Drug Administration],” sales vice president Mark Cohen said. “We remain optimistic about continued growth and achieving our forecasts for 2014 as we officially launch our new cervical portfolio and product extensions throughout Q2 and Q3, 2014. Key initiatives to drive the business include strengthening core thoracolumbar business and building out a platform of osteobiologics, expanding and creating new business in markets, accelerating innovation, and realigning the business portfolio and optimizing the company’s resources.”

GS Medical USA LLC is a wholly owned subsidiary of South Korea-based GS Medical Co. Ltd., a spinal implant manufacturer and distributor.