WEST CHESTER, PA — West Chester-based medical device company, Centinel Spine®, LLC, recently announced record third quarter 2023 financial results for its prodisc Total Disc Replacement (TDR) product line. The company’s strong operational performance and 61% year-over-year global revenue growth in Q3 2023 resulted in its second consecutive EBITDA-positive quarter.
Centinel Spine’s robust quarterly results were buoyed by a record number of prodisc surgeon users, as well as accelerated procedure volume and user adoption of the company’s new prodisc C Vivo and prodisc C SK cervical TDR system.
“We are pleased with the progress Centinel Spine is making in the total disc replacement market this year,” said Steve Murray, CEO of Centinel Spine. “The Company is exclusively and entirely focused on becoming the unrivaled leader in TDR and expanding the market as we grow.”
Q3 2023 worldwide prodisc franchise revenue exceeded $17 million, marking an increase of 61% from the prior year. In the U.S., prodisc revenue grew by 71% in Q3, with prodisc cervical increasing by a whopping 100%. The U.S. prodisc surgeon user base saw significant growth, expanding by 50%, with new users tripling when compared to Q3 2022. The number of U.S healthcare facilities using prodisc TDR products rose by 45%, while the number of distributors selling prodisc expanded nearly 30%.
International Q3 2023 prodisc TDR revenues increased 30% over Q3 2022, driven by an 85% growth in prodisc lumbar sales. The new prodisc C Vivo and prodisc C SK system is seeing strong acceptance in the U.S. market, with 380 surgeons using the system as of Q2 2023, marking a 30% sequential user growth.
Worldwide prodisc TDR revenues year-to-date September 2023 totaled $49 million, an increase of 55% over the same period in 2022. U.S. prodisc sales have grown 61%, while International sales have grown 36%, year-over-year. Over 750 surgeons have been trained with Company Medical Education programs to date.
The company expects its global prodisc TDR business to surpass 50% growth in full-year 2023, significantly outpacing the projected market growth of 11%. This growth is attributed to prodisc’s global lumbar business and the expansion of the newly launched prodisc C Vivo and prodisc C SK cervical system.
Centinel Spine’s record performance in Q3 2023 is a testament to the company’s commitment to innovation and patient care. With its growing prodisc surgeon user base and increasing procedure volumes, Centinel Spine continues to make strides in the total disc replacement market.
For more information, visit www.CentinelSpine.com.
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