Friday, August 14, 2009

40% of What?

On August 4th, 2009 the SpineBlogger reported that rumor was circulating within the industry that the word on the street was that there was a major purge going on at U.S. Spine. Ironically, on August 13th, 2009, U.S. Spine announced that it had achieved a 40% top line growth in comparison to QI of 2008. Those of us at the SpineBlogger are curious as to definition in the press release of the words 1,600 facet bolts implanted, to date. Does that mean since the product was launched? If memory serves me correctly, wasn't this product launched in QIV of '05 or QI of '06? If 1,600 facet bolts were implanted since the time of the commercial launch, that would be an estimated 533 per year. Not many from a marketing perspective.

It's quite evident that with the addition of Mr. Sendro as Executive VP, the company has added an industry veteran whom has been schooled by "the best" at how to structure the art of the deal, and I am not talking about Donald Trump. Time loves a hero, and I am betting that things aren't as good at US Spine as they claim. I would venture that they are no different than companies like Life Spine, Titan Spine, Custom Spine, and many others that are all trying to figure out how sustain themselves at a time when investors are not going to invest in traditional hardware. We would be curious to know who invested $2 million into this company? Until a potential investor expresses interest in infusing capital into an early-growth stage company, the general public is at the mercy of whatever that organization wishes to say. Remember Vertebron's press release in a Hartford, Connecticut publication which stated that they had their first $1 million dollar month in sales, ever wonder where all that revenue went?

In closing the spine industry public will be watching this company closely. Until then party on!

7 comments:

  1. I am a recruiter in the industry, and have been trying to find out what is going on there for some time. Have not been able to get in touch with anyone there though (ditto Life Spine). Likewise, other industry insiders whom I have asked do not seem to know much. I imagine that this article/report is an attempt to make things seem or appear better than they actually are. Who can blame them though?

    Does anyone know what percentage of the facet bolt market US Spine's product currently holds? Or, at least, what percentage of last years procedures involving Facet bolts utilized US spine's products over a competitor?

    Also, yes, party on.

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  2. I also work within the search/recruiter side of the business and I have been contacted by a few people from US Spine recently. Although second hand info, I have heard a 15%+ layoff due to finances - a sales manager or two, engineer, field support, etc. I definitely did not get the idea this company was on the "upswing".

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  3. For musculoskeletal man: This blog and the rhetoric present within are without fact or merit and persist as mindless drivel. Your content is far from professional and thus the reason for your anonymity.

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  4. For tmiller: I would hope these companies do not speak with you; it would appear your abilities to retain certain matters confidential are suspect. Good luck recruiting.

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  5. For "Lil", a little touchy aren't we? There is a solution for you in a free country; don't follow the blog. If you read the blog's title it states, " ...what's been heard on the street", this isn't Bloomberg, CNN or Fox, so lighten the hell up. As far as anonymity goes, isn't that the pot calling the kettle black? Or are you Sendro in disguise?

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  6. Steve, I second your motion. As far as press releases go, the last few from them have been humorous at best. Painting Vertebron as a success under Sendro is laughable and now supposedly hiring new sales managers when the word is they are letting people go. Funny.

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  7. Lil, I would hope that whom ever you work for would consider putting you in the "layoff" side of the equation. In todays difficult times any employee who would waist his or her time responding to something that they consider "mindless drivel" has to much time on their hands or their job is clearly unnecessary.

    Party on

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