WEST CHESTER, PA — Centinel Spine®, LLC, a key player in the medical device industry, recently announced record year-end 2023 business results, laying the groundwork for accelerated growth in 2024. The Pennsylvania-based company’s shift towards total disc replacement (TDR) technology appears to be paying off, with significant revenue growth and an expanding user base.
In Q4 2023, Centinel Spine divested its fusion business, allowing the company to focus exclusively on its rapidly growing prodisc Cervical and Lumbar global TDR business. The move aligns with the company’s goal of becoming the worldwide market leader in TDR, a market segment experiencing rapid expansion within the orthopedic industry.
December 2023 saw record worldwide prodisc TDR revenue of $7.6 million, a 66% year-over-year growth, and a 13% sequential increase. The company also reported record prodisc Cervical revenue of $4.3 million and prodisc Lumbar revenue of $3.3 million, representing respective year-over-year growth of 65% and 69%.
The fourth quarter of 2023 maintained the momentum, with record worldwide prodisc TDR revenue of $20.2 million, a 56% year-over-year growth, and a 17% sequential increase. Prodisc Cervical and Lumbar revenues also saw significant increases, with year-over-year growth rates of 71% and 38%, respectively.
Centinel Spine attributes its successful 2023 results to several factors. A rapidly expanding base of surgeons and facilities using prodisc TDR technology, continued U.S. adoption of new prodisc C Vivo and prodisc C SK Cervical TDR technologies, and strong momentum in the global prodisc Lumbar TDR business all contributed to the company’s record performance. Additionally, Centinel Spine’s global Medical Education program trained over 800 surgeons in 2023, further driving new surgeon growth.
In addition to these accomplishments, prodisc Lumbar results in December and Q4 2023 were bolstered by expanding procedural usage, improved U.S. commercial payer coverage, and new prodisc Lumbar anatomic endplate technology. Major positive coverage updates in several states added over 20 million covered lives with access to one- and two-level lumbar TDR. With this expansion, it is estimated that over 30% of commercially-covered lives in the U.S now have access to two-level lumbar TDR, while coverage for one-level lumbar TDR has grown from 50% in 2017 to nearly 95% of covered lives.
Industry insiders are closely watching Centinel Spine’s strategic shift towards TDR technology. The company’s record-breaking performance in 2023 and its plans for accelerated growth in 2024 signal a promising future for TDR technology, potentially inspiring other medical device companies to explore similar market opportunities.
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