Titan Spine says demand strong for new device

Implant binds to vertebrae

Mequon-based Titan Spine LLC, in the latest indication that it’s in growth mode, on Monday announced strong demand for its latest generation of medical devices, which surgeons implant to strengthen injured or deteriorating vertebrae.

The 11-year-old company said it recently exceeded 1,000 implants of its titanium nanoLOCK devices, which were launched in the fourth quarter of 2016, adding to the existing line of spinal implant products. The nanoLOCK implants, with a surface that resembles human bone and is meant to bind faster and harder to the spine, have been utilized by 74 surgeons in 52 hospitals across 26 states since the launch late last year, the company said.

Ted Bird, chief commercial officer of Titan Spine, said, “Achieving record sales growth in the first quarter this year speaks to the accelerating demand for our surface-enhanced titanium interbody devices and an increasing appreciation of the importance of our proprietary nano-architecture in its ability to drive rapid osteogenesis.”

The privately held company declines to release regular financial reports. It announced “record sales revenue for the first quarter of 2017,” which are “significantly greater than prior year,” but didn’t disclose any dollar figures.

Founded by a Wisconsin surgeon in 2006, the company last reported revenue for 2015 at $33.5 million. It declined since then to update that figure but said it has tripled its sales team since then to accommodate growing demand.

Titan Spine has been adding employees in general, said marketing executive Andrew Shepherd. It employs 85 staff at its Mequon headquarters and its Milwaukee production site, as well as a sales office in Germany.