Third quarter 2023 U.S. professionaldisc® Whole Disc Substitute (TDR) income approached $14 million in gross sales—a brand new report—exceeding second quarter 2023, the corporate’s earlier finest quarter.
Third quarter 2023 worldwide professionaldisc TDR remained sturdy by product phase, with world lumbar TDR rising 43%—a brand new income report— and world cervical TDR rising 75%.
12 months-to-date worldwide professionaldisc TDR income of $49 million via the third quarter is up 55% over prior 12 months.
Robust world income development and operational efficiency resulted in Centinel Backbone’s second consecutive EBITDA-positive quarter.
WEST CHESTER, Pa., Nov. 2, 2023 /PRNewswire/ — Centinel Backbone®, LLC, (“the Firm”) the main world medical system firm addressing cervical and lumbar spinal illness with probably the most clinically-proven complete disc alternative (TDR) expertise platform on the earth (professionaldisc®), at the moment introduced report third quarter 2023 professionaldisc TDR monetary outcomes. Robust operational efficiency coupled with 61% year-over-year world income development in Q3 2023 resulted within the Firm reaching its second consecutive EBITDA-positive quarter. Centinel Backbone’s sturdy quarterly outcomes have been pushed via a report variety of professionaldisc surgeon customers, in addition to accelerated process quantity and person adoption of the Firm’s new professionaldisc C Vivo and professionaldisc C SK cervical TDR system.
In accordance with one of many early adopters of the brand new professionaldisc cervical system, Neurosurgeon John S. Shiau, MD, of Maplewood, NJ and Manhattan, NY, “I imagine in some great benefits of cervical disc alternative over fusion in my sufferers. The useful restoration and the long-term outcomes are unbelievable. I’ve been very proud of the totally different disc replacements accessible from Centinel Backbone. I can select the implant that finest achieves my surgical targets of useful stabilization. As well as, I can choose the implant that matches the anatomy, quite than altering the anatomy to suit the implant. This maximizes the prospect of reaching profitable outcomes in my sufferers. For these causes, relying on the scientific setting, I proceed to make use of each the unique professionaldisc C implant and the professionaldisc C Vivo implant. For instance, if the superior endplate is flat, then the professionaldisc C higher suits the anatomy; if the endplate is concave, then I select the domed professionaldisc C Vivo. The professionaldisc C Vivo implant is an enchancment when it comes to ease of insertion.”
Centinel Backbone CEO Steve Murray shared, “We’re happy with the progress Centinel Backbone is making within the complete disc alternative market this 12 months. The Firm is completely and completely targeted on turning into the unequalled chief in TDR and increasing the market as we develop. In each cervical and lumbar disc alternative, surgeons see the good thing about our Match-the-Disc household of anatomic discs. The scientific advantages of complete disc alternative are clear and impeccably reported within the many research of their security and effectiveness—and, more and more, sufferers search therapy pathways that preserve movement and scale back the probability of future surgical procedure. We’ll proceed placing our full effort into advancing affected person care in all we do.”
Third Quarter 2023 Highlights
Third quarter 2023 worldwide professionaldisc franchise income exceeded $17 million, up 61% over prior 12 months, with professionaldisc cervical rising 75% and professionaldisc lumbar growing 43% over 2022.
U.S. professionaldisc income grew 71% in Q3 versus prior 12 months. Quarterly gross sales reached a report $14 million, pushed by the continued success of the brand new professionaldisc C Vivo and professionaldisc C SK cervical TDR system and almost 40% year-over-year professionaldisc lumbar development. U.S. professionaldisc cervical income grew over 100% in Q3 2023 versus prior 12 months.
The U.S. professionaldisc surgeon person base grew greater than 50% over prior 12 months—together with 70% development in professionaldisc cervical customers. New professionaldisc customers greater than tripled vs. Q3 2022. Moreover, the full variety of U.S. healthcare amenities utilizing professionaldisc TDR merchandise exceeded 465, a rise of 45% over prior 12 months, and the variety of distributors promoting professionaldisc expanded almost 30% versus Q3 2022.
Worldwide Q3 2023 professionaldisc TDR revenues grew 30% over Q3 2022, propelled by 85% development in professionaldisc lumbar gross sales.
Highlights on New Cervical professionaldisc TDR System One 12 months after U.S. Launch
U.S. market acceptance of the brand new professionaldisc C Vivo and professionaldiscSK system stays sturdy, with nearly 380 surgeons now utilizing the system—a sequential person development of almost 30% over Q2 2023. The Firm achieved the two,500-procedure milestone with the brand new professionaldisc C Vivo and professionaldiscCSK system in September, simply 5 months after the 1,000th case was introduced in April 2023. Almost 900 procedures have been accomplished with the brand new system within the third quarter of 2023, a 15% sequential process quantity development over Q2 2023.
The typical month-to-month U.S. surgeon person base for the brand new professionaldisc C Vivo and professionaldiscC SK system continued to increase in Q3 2023, with a rise of almost 10% over the prior quarter. The professionaldisc C Vivo and professionaldisc CSK surgeon person base additionally stays dedicated to the brand new system, with the bulk being aggressive conversions and repeat customers.
12 months-to-Date 2023 Efficiency
12 months-to-date September 2023 worldwide professionaldisc TDR income of $49 million represents a year-over-year improve of 55%. File gross sales throughout geographical segments have been additionally sturdy in the course of the first 9 months of 2023, with year-over-year U.S. professionaldisc gross sales rising 61% and Worldwide gross sales rising 36%. New surgeon development was pushed by Firm Medical Teaching programs which have educated over 750 surgeons, year-to-date.
12 months-to-date Q3 U.S. professionaldisc TDR revenues approached $38 million, pushed by a quickly growing surgeon person base, in addition to repeat utilization inside the current buyer base. Via Q3, the U.S. professionaldisc TDR surgeon person base expanded by greater than 50%, year-over-year.
The year-over-year development of the U.S. professionaldisc cervical surgeon base was significantly sturdy, increasing by over 65% via the top of Q3 2023. Lastly, over 85% of the professionaldisc TDR cervical surgeon person base has repeated utilization year-to-date versus the identical interval in 2022.
12 months-to-date Q3 Worldwide professionaldisc TDR revenues have grown 36% over 2022, propelled by 55% professionaldisc lumbar development and professionaldisc cervical gross sales development of 30% over 2022.
Full-12 months 2023 Outlook
Looking forward to full-year 2023, the Firm raised its projection and anticipates its world professionaldisc TDR enterprise will exceed 50% year-over-year, considerably outpacing projected market development of 11% (supply: Synthetic Disc Market Insights, Aggressive Panorama and Market Forecast-2027, DelveInsight Enterprise Analysis LLP, 2022). Full-year development will proceed to be pushed via the professionaldisc world lumbar enterprise and continued growth of the newly launched professionaldisc C Vivo and professionaldiscCSK cervical system.
About Centinel Backbone, LLC
Centinel Backbone®, LLC is the main world medical system firm addressing cervical and lumbar spinal illness with probably the most clinically-proven complete disc alternative (TDR) expertise platform on the earth (professionaldisc®). The Firm’s professionaldisc expertise is probably the most studied and clinically-proven TDR system throughout the globe, validated by over 540 printed papers and greater than 250,000 implantations worldwide.
Centinel Backbone continues to advance its pioneering tradition and company mission to develop into a catalyst of change within the spine business and alter the best way spine surgical procedure is perceived. The professionaldisc platform stays the one expertise with a number of motion-preserving options for each cervical and lumbar anterior column reconstruction.
For extra data, please go to the corporate’s web site at www.CentinelSpine.com or contact:
Varun Gandhi Chief Monetary Officer 900 Airport Highway, Suite 3B West Chester, PA 19380 Telephone: 484-887-8871 E-mail: email@example.com