Precision Spine 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.
"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 ReformPedicle Screw System.
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.