Centinel Spine recently announced achievement of record full-year 2023 prodisc Total Disc Replacement (TDR) business results, setting the stage for continued accelerated growth in 2024. Based on publicly available information, Centinel Spine is the fastest growing company in the spine industry, focused on the fastest growing segment in orthopedic implants: total disc replacement. The Company is also uniquely positioned from a profitability perspective, achieving its third consecutive adjusted EBITDA positive quarter in Q4 2023.
Full-Year 2023 Highlights
- Record worldwide prodisc TDR revenue of nearly $70 million, representing 55% growth over full-year 2022.
- Record worldwide prodisc Cervical revenue of nearly $43 million—with year-over-year (YOY) growth of 69%—and prodisc Lumbar revenue of nearly $27 million, up 36% YOY.
- Record U.S. prodisc total surgeon user-base of nearly 800 surgeons, representing 44% YOY growth.
- Record International prodisc TDR revenue of nearly $15 million, representing growth of 38% YOY.
Highlights on the New Match-the-Disc™ prodisc Cervical TDR System
- Nearly 3,700 procedures were completed with the new system through the end of 2023.
- The new system drove a nearly 90% YOY increase in full-year U.S. prodisc Cervical revenue.
- Added an average of nearly 100 new surgeons using the Match-the-Disc system per quarter in 2023, increasing the total number of system users to 480.
- Strong majority of surgeon users came from competitive conversions and remain repeat users.
Centinel Spine Completes Divestment of its Spine Fusion Business to Silony Spine
2023's record results come after Centinel Spine's October announcement that it has completed an agreement to sell its global spine fusion product portfolio and related assets to Silony Spine.
The completion of the divestment of Centinel Spine’s fusion business allows the Company to exclusively focus on its rapidly expanding prodisc TDR business and accomplishing the goal of being the number one global market leader in cervical and lumbar total disc replacement.
Marking the close of this chapter, Centinel Spine CEO Steve Murray noted:
“Today, Centinel Spine begins a new era—one of full focus, commitment, and action towards improving patients’ lives through spine motion preservation.” He continues, “The outstanding long-term clinical evidence of patient benefit with the prodisc disc replacement platform in an underserved, high-growth market uniquely positions us to make a real difference in spine care around the world. We are pleased to know that the STALIF fusion portfolio we have sold to Silony Spine will be taken forward by their committed, dynamic, and expert team.”
-Steve Murray, CEO, Centinel Spine
The completed divestment included the sale of all products within Centinel Spine’s cervical and lumbar fusion portfolio—including the STALIF technology platform.
For More Information...
For more information about these major events, view the press releases linked below.