Precision Spine Records Fifth Consecutive Year of Double-Digit Growth; Announces FDA Clearance for Reli SP Spinous Plating System and Expanded Indications for Reform® Pedicle Screw System

PARSIPPANY, N.J.--()--Precision Spine, Inc. today announced that sales results for the year ending December 31, 2014 gave the company its fifth consecutive year of double-digit growth. The company indicated that fourth quarter 2014 sales represented a 45% increase over fourth quarter 2013. Full year 2014 sales increased 26% over the prior year. The company expanded sales distribution throughout the year and also released several innovative products, including the stand- alone Vault C Anterior Cervical Interbody Fusion Device, the MD-Max ULIF (Universal Lumbar Interbody Fusion) System, the extended tab SureLOK MIS Pedicle Screw System, and the ShurFit Oblique Lordotic TPLIF.

“The Reform Pedicle Screw System has been well-received in the surgeon community and we’re confident that the system’s expanded indications will broaden both its usage and popularity”

“To achieve double-digit growth for five consecutive years is a testament to our ability to consistently provide advanced, high quality products that successfully bring efficiency and cost-effectiveness to the treatment of a variety of spinal pathologies,” commented Rich Dickerson, President of Precision Spine.

Precision Spine also announced that it had received 510(k) clearance from the U.S. Food and Drug Administration for its Reli SP Spinous Plating System and received expanded indications for its Reform® Pedicle Screw System.

‟The Reli SP Spinous Plating System provides surgeons with a variety of important features and benefits, including the ability to accommodate several techniques for spinous process distraction and insertion of the plate,ˮ said lead development surgeon for the system, Farzad Massoudi, M.D., F.A.C.S., President of Orange County Neurosurgical Associates in Laguna Hills, California. ‟The two-piece design helps minimize disruption and keeps the spinous ligament intact. Six pyramidal cleats help ensure secure purchase of the plate to the spinous process and simple, intuitive instrumentation facilitates operating room efficiency while the square thread locking cap helps reduce potential for cross-threading. In addition, the Reli SP Spinous Plating System is available in a wide range of implant sizes so that adaptations can be made to take into account pathology, as well as each patient’s anatomy, conditions and predispositions,ˮ Dr. Massoudi added.

Additionally, Precision Spine announced that its Reform® Pedicle Screw System has received expanded indications from the U.S. Food and Drug Administration.

“The Reform Pedicle Screw System has been well-received in the surgeon community and we’re confident that the system’s expanded indications will broaden both its usage and popularity,” said Rich Dickerson, President of Precision Spine, Inc. “The Reli SP Spinous Plating System is just one of a number of exciting new products that will further enhance our growing portfolio in 2015 as part of our commitment to continually bring surgeons the advancements they need to achieve positive patient outcomes.”

About Precision Spine

Precision Spine, Inc. is a privately held company headquartered in Parsippany, New Jersey, with manufacturing facilities in Pearl, Mississippi. Precision Spine is dedicated to providing innovative, quality spine products that are designed to help treat serious medical conditions in a cost effective manner. For more information, visit www.precisionspineinc.com.

Contacts

Precision Spine, Inc.
Rich Dickerson, 877-780-4370
rich.dickerson@precisionspineinc.com

Release Summary

Precision Spine Records Fifth Consecutive Year of Double-Digit Growth; Announces FDA Clearance of Reli SP Spinous Plating System and Expanded Indications for Reform Pedicle Screw System

Precision Spine, Inc.