US Momentum Drives SpineGuard to 23% Revenue Growth in Q1 April 4, 2017
SpineGuard, an innovator in disposable medical devices for the spinal specialty, has seen first-quarter 2017 revenue growth of 23%, to €2.2 million.
SpineGuard’s mission is to make spine surgery safer by bringing real-time digital technology into the operating room. Its primary objective is to establish its proprietary DSG™ (Dynamic Surgical Guidance) technology as the global standard of surgical care, starting with safer screw placement in spine surgery and then in other surgeries.
SpineGuard is a relatively frequent visitor to our pages, appearing as recently as January with the news of a first patient to enjoy spinal fusion with the company’s guided pedicle screws.
In January the company had received U.S. FDA 510(k) clearance for new DSG™(Dynamic Surgical Guidance) integration module to use in combination with Zavation’s spinal fusion system to make its pedicle screws “smart”.
To the results then: Global revenue in the first quarter of 2017 increased 23% to €2,169k, compared with €1,760k in the first quarter of 2016. At constant exchange rate, the growth rate was 20%. 2,397 PediGuard units were sold in the first quarter of 2017 compared with 2,134 in the first quarter of 2016, including 1,377 (57%) in the United States, where revenue grew 30% (25% cc) to €1,901k compared with €1,377k.
Pierre Jérôme, CEO and co-founder of SpineGuard, said: “In line with former quarters, SpineGuard is starting 2017 with strong growth driven by great momentum in the US and the traction of PediGuard Threaded, the latest addition of our smart, single-use drilling probes. This is very promising given that our DSG integration module for ‘single-step’ screw insertion is in limited release and therefore not yet significantly contributing to our revenue.”