From the looks of things, not much. Is the Facet Gun innovation? I'm not quite sure, since most surgeons that I have spoken to are not enamored with this product. Could this be the beginning of another Vertebron scenario? Remember, Sendro grew Vertebron threefold, as reported in the U.S. Spine press release, only to result in Chapter 7 and Chapter 11 bankruptcy. In addition, how many medical advisors can a company of this size have? The Spine Blogger would be surprised if this company generates $12 million in sales per annum. If so, that would be $1 million per medical advisor. The Spine Blogger wants to know what you foot soldiers have heard, could this be the beginning of the end for another spine company?
Tuesday, August 4, 2009
U.S. Spine - Is the Ship a Sinking?
Today, the SpineBlogger received a call from an industry source that informed him that there was a purge at U.S. Spine. If this is true, could it be that Paul Sendro brought his famous "rack" when he was hired as the new VP? For those of you not familiar with the "Rack," its what was used in the closing scenes of Braveheart to cleanse William Wallace. So what's going on at U.S. Spine?
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Don't know or fully understand the Sendro angle to this, however it would appear that a slight lack of vision and a large lack of innovation will be the downfall of this company.
ReplyDeleteIt appears to me that they came up with an interesting gismo to deliver a metal implant at a time when several companies simply solved the same problem with bone and rudimentary instrumentation. Also there seems to be a huge push and move towards aurthroplasties and away from fusions and this company to my knowledge has nothing to play in this arena.
It would also appear to be very bad timing if the thought was to sell this nitch product to a company with a more robust portfolio.
Again just my thoughts and enjoying the blog.
MedRep: When Vertebron brought Sendro in as CEO, speculation was that he would bring in some of his old Blackstone cronies (RM's), leverage their relationships with former distributor, increase sales, and "flip" the company. The Spine Blogger believes that this strategy backfired when Vertebron walked away from an offer from a prospective buyer. As I stated in the past, greed blurs the process. Yet, that offer was already in the works long before he came on board. If U.S. Spine hired him, I would bet that there is something very similar in the offing. Besides, you don't think he was responsible for Blackstones growth? If the DOJ ever acts on their investigation into the Three Amigos the truth shall be told. Thanks for your commentary.
ReplyDeleteA standard facet screw is superior to their facet gun which is a gimmick. A facet screw can be placed percutaneously, with minimal incision under fluoroscopy, while the gun requires a larger incision - since the jaws need to go around the facet itself.
ReplyDeleteA screw can easily be adjusted in place while the gun is an all or nothing shot. In fact US spine is introducing a regular facet screw to address these issues. So much for their technical advantage. As far as I know, they don't have any other technology worth noting.
SpineDoc1: Thanks for your input! It usually comes down to the tiresome industry adage; Is it new? Is it true? and, does it make a difference. Why pay more for the use of a Facet Gun when we can make Trans1 more revenue by using their cannulated facet screw. Once again, thank and keep blogging!
ReplyDeleteI have not heard good things as well & for all anyone knows, the bloodletting could only have just begun. This could be interesting to watch.
ReplyDeleteA press release put out this afternoon stated some sales growth over the previous year and procedural information. If you notice Doris is not listed as president/ceo on it.....interesting developments
ReplyDeleteAs a former employee of US Spine I would say that it was interesting working there. Some good people but no clear vision and alot of politics between the team brought in to shine the company up to sell and the original group. The hedge fund managers on the management team overrule the sales team and it is proving disastrous to sales.
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