Record worldwide pro disc® Total Disc Replacement (TDR) revenue exceeding $22 million in Q2 2024, growing almost 30% over prior year. Record U.S.
pro disc Cervical TDR revenue growing over 40% in Q2 2024 versus prior year. Record EBITDA in Q2 2024. Record number of U.
S. surgeons utilizing pro disc TDR products in Q2 2024, growing almost 40% over prior year. WEST CHESTER, Pa.
, July 24, 2024 /PRNewswire/ -- Centinel Spine®, LLC ("the Company"), the leading global medical device company focused exclusively on treating cervical and lumbar spinal disease with the most complete and clinically-proven total disc replacement (TDR) technology platform in the world (pro disc ®), today announced achievement of record revenue in the second quarter of 2024—outperforming Q1 2024, its previous record quarter. Centinel Spine remains the fastest growing company in the spine industry* and is dedicated exclusively to total disc replacement, one of the fastest growing segments in orthopedic implants. The Company remains well-positioned from a profitability perspective, achieving a record EBITDA quarter in Q2 2024** and its fifth consecutive adjusted EBITDA positive quarter.
Second Quarter 2024 Highlights Record worldwide pro disc TDR revenue of $22.1 million , representing 26% year-over-year (YOY) growth. Record worldwide pro disc Cervical revenue of $14.
6 million , with 32% YOY growth. Record U.S.
pro disc Cervical revenue, with 42% YOY growth. Record U.S.
pro disc total surgeon user-base of nearly 600 surgeons, representing almost 40% YOY growth and sequential quarterly user growth of 10%. Q2 2024 was the 8 th consecutive quarter of surgeon user growth. Highlights on the New Match-the-DiscTM pro disc C Vivo & pro disc C SK Cervical System Nearly 7,000 procedures have been completed with the new system since limited US release in Q3 2022.
Record pro disc C Vivo and pro disc C SK revenue in Q2 2024, representing nearly 67% and 100% YOY growth, respectively. Added record number of new surgeons using the Match-the-Disc pro disc C Vivo and pro disc C SK cervical system in Q2 2024, increasing the total number of surgeons that have utilized the new system by nearly 140% YOY and almost 20% in sequential quarterly growth. Over 75% of the nearly 700 surgeons that have utilized the new system to date are repeat users and a strong majority of surgeon users come from competitive conversions.
Centinel Spine CEO Steve Murray adds, "The second quarter represents another record performance for Centinel Spine and these results demonstrate the continued strength behind our pro disc cervical and lumbar business in the rapidly expanding Total Disc Replacement market, worldwide. The pro disc portfolio leads the Total Disc Replacement market in growth and has a long history of reliability and long-term performance. The new pro disc C Vivo and pro disc C SK cervical system continues to excel, as exhibited by a rapidly expanding user base, record new users for the quarter, and strong repeat usage performance.
" * Based on publicly available information. ** Q2 2024 adjusted EBITDA is based on unaudited financials. About Centinel Spine, LLC Centinel Spine®, LLC is the leading global medical device company exclusively focused on addressing cervical and lumbar spinal disease with pro disc ®, the most complete total disc replacement (TDR) technology platform in the world.
The Company's pro disc technology is the most studied and clinically-proven TDR system across the globe, validated by over 540 published papers and more than 250,000 implantations. Centinel Spine's pro disc is the only TDR technology with multiple motion-preserving anatomic solutions, allowing the surgeon to Match-the-Disc TM to each patient's anatomy for both cervical and lumbar total disc replacement. For more information, please visit the company's website at www.
CentinelSpine.com or contact: Varun Gandhi Chief Financial Officer 900 Airport Road, Suite 3B West Chester, PA 19380 Phone: 484-887-8871 Email: [email protected] SOURCE Centinel Spine, LLC.
