Spineart Announces Second Quarter and Half-Year Results
Spineart Group revenues increased 34.5% for the second quarter 2019 and 28% for the first half of 2019. Company growth is well balanced among all the product lines and geographical areas. The US market represented 43% of Spineart’s revenues for the second quarter and 42% for the first half of 2019.
Spineart USA Inc. reported record second quarter and half-year revenues. Revenues increased 74% (60% in constant currency) for the quarter and 54% (43% in constant currency) for the first half of 2019.
Revenues from interbodies incorporating Ti-LIFE Technology, a proprietary 3D-printed trabecular structure, grew 176% (156% in constant currency) for the first half of 2019.
In 2019, Spineart USA was selected as one of only six authorized vendors for spinal implants within the Providence Health System, one of the largest integrated delivery networks in the country.
In the second part of the year, Spineart USA will proceed with the full commercial release of SCARLET AL-T, its secured anterior lumbar titanium cage with Ti-LIFE Technology.
Thus far in 2019, Spineart has received four new 510(k) clearances from the FDA.
Acquisition
End on the 2018, Spineart Group acquired 1,200 sqm building by the French / Swiss border. This acquisition is part of the 2017-2020 investments strategic plan.
The building will be dedicated to warehousing and manufacturing.
Investment
In December 2018, Spineart group made a major investment in Pytheas, a start-up based in Marseille, France, specialized in spine surgery planification and navigation.
Thanks to this investment, Spineart is poised to maintain its place at the forefront of innovation on the dynamic Spine market.
Sales Record
In March, Spineart USA revenues reached a new record by exceeding for the first time the symbolic $2.5 millions mark; during this month a record 375 US patients were treated with Spineart implants.
Overall, very good sales performances worldwide in Q1 2019 with an outstanding growth in the US of +34,9% versus Q1 2018, +14,7% in EU direct and +8,1% Rest Of the World.
Congratulations to the US team, to the sales team worldwide and to the “shadow workers” who serve and support them on a daily basis and allow them to focus on expanding Spineart’s footprint in the spine market.
1st surgery SCARLET® AL-T
Spineart is proud to announce the release of its secured anterior lumbar cage, SCARLET® AL-T.
SCARLET® AL-T is a stand-alone, zero profile Anterior Lumbar Interbody Cage featuring our Ti-LIFE technology enhanced algorithm for additive manufacturing resulting in a porous structure that mimics trabecular bone.
The first surgery was reported on Dec 12th, 2018 in the US.
Sales Records Q4
Spineart USA Inc. reported $23.1M in revenue for the calendar year 2018, an increase of 20% vs 2017. During the fourth quarter of the year, Spineart USA Inc. achieved a record month revenue in November with $2.4M.
Also, Revenues OUS reported a record quarter in Q4 with over 9m€ of invoicing.