Titan Spine: 49% YOY Mid-Year Sales Growth Rate
Elizabeth Hofheinz, M.P.H., M.Ed. • Tue, September 5th, 2017
Mequon, Wisconsin-based Titan Spine is on a roll, recently announcing that it continues its strong revenue acceleration for the second quarter of 2017.
According to the company’s August 2, 2017 news release, this success is driven by the increasing demand for the company’s nanoLOCK surface technology.
The company reported that more than 50,000 Endoskeleton interbody fusion devices have been implanted since the company’s inception; that nanoLOCK sales volume has increased by 42% since the close of the first quarter; that nanoLOCK has been utilized by 150 surgeons in 98 hospitals so far, and that 2,500 nanoLOCK’s have been implanted since the product’s launch.
Ted Bird, chief commercial officer of Titan Spine, said, “Following a record first quarter, we continued to exceed expectations during the second quarter for a strong close to the mid-2017 mark.”
“The significant demand for nanoLOCK is a direct reflection of our expanded sales team’s ability to reach more surgeons and surgeons’ recognition of the advantages our surface technology provides at the nano-cellular level for helping patients heal faster following spine fusion surgery.”
“In fact, we have more than doubled the number of surgeon customers using nanoLOCK in the second quarter compared to the first. We are pleased that our second quarter achievements demonstrate a growing confidence and continued adoption of nanoLOCK.”
Titan’s Executive Vice President of Sales Steve Cichy added, “The demand for nanoLOCK has certainly fueled our significant sales growth over the first half of this year. We have recently invested significant capital to beef up our instrument set and implant inventory to meet this growing demand, which will start to pay dividends over the remainder of the year and beyond.”
Ted Bird commented to OTW, “I attribute Titan’s growth to our investment in increasing our field sales presence and driving awareness among surgeons of the positive clinical impact and direct influence that our nanoLOCK surface has on prompting the patient to grow bone and heal naturally, without the need for expensive biologics.”
“Through our efforts, there is a growing understanding that nanotechnology is much more than a marketing buzzword. If applied correctly, it is a very effective way to influence patient healing where it matters most—at the cellular level. The market acceptance of nanoLOCK thus far has played a large role in fueling our hypergrowth.
“What excites me most is not only that we have enjoyed accelerated growth over the past year, but also that it is sustainable moving forward. Our nanoLOCK surface technology is uniquely positioned to continue to take market share in an industry that is rapidly moving toward surface-enhanced interbody devices. It is backed by several published studies that support its superior osteogenic capabilities, and, as a result, is the only FDA-cleared nanotechnology for the spine. The future is very bright at Titan Spine. I’m glad to be a part of it.”