30 Day Trial
ORTHOKNOW logo

ORTHOKNOW content is posted to these pages in real time.

Monthly compilations are available in PDF form.

Quarterly Review

3Q13 Revenue: RTI Surgical

Orthopaedic-related tissue distribution revenue $41.5MM, +39% (Pioneer Surgical/PST $16.1MM)

  • Spine $17.6MM, +73% (Legacy RTI spine +5%)
  • Bone Graft Substitutes/General Orthopaedic (BGS/GO) $7.6MM, -3%
  • Sports Medicine $9.5MM, -19%
  • Ortho Fixation $6.7MM

 

  • BGS/GO sales affected by weak orders from one large commercial customer, to be partially offset by BioAdapt Bridge demineralized bone matrix-based implant launched in 4Q, to be distributed via direct spine channel
  • Completed acquisition of Pioneer Surgical early in quarter
  • Experienced lower than projected volumes in legacy PST spine due to decline in orders from surgeons who personally invested in PST, were dissatisfied with return on investment and lack of engagement from previous PST owners (~20% of PST surgeon customers)
  • Completed 1st human implantation of map3 cellular allogeneic bone graft in spine and foot/ankle procedures
  • Completed 1-year evaluation of safety of xenograft tendon implant in large primate study
  • Launched Tritium sternal cable plate for closing median sternotomies
  • 4Q highlights:
  • Entered into new agreement with Medtronic Sofamor Danek to process allograft implants, primarily for spine (Medtronic contributed ~14% of total 3Q revenue)
  • Commenced cross-distribution of certain allograft implants with new direct spine channel
  • Received close-out letter from FDA verifying effective implementation of corrective actions put in place following 4Q12 Warning Letter related to Alachua, Florida facility inspection; seeing customer return + new accounts