The events that had transpired over the last few days validates the tension and uncertainty that exists in the spine industry. As information becomes viral, it has become apparent that the spine industry might be ready for another casulty of spine. As was posted in the comment section and verified by our sources on the Street, Baxano may be in trouble. After letting 20% of its workforce go due to inadequate funding and sales, you the readers continually validate the many issues that need to be cleaned up if the spine industry is to revitalize itself in an uncertain healthcare environment.
TSB published a blog about Baxano in early 2010 questioning the efficacy and reimbursement of this product. Your many comments in reply validate how much more knowledgeable the masses are in comparison to those that have an ability to make hoards of money and throw it around at the industry like if we were a casino. The question must be asked, "who are these people listening to?" Who are these experts? $30 million in Series C. How much more capital in their previous rounds? Laugh all you want, better yet, get angry at TSB, but in the end the market rules. Did anyone really believe that attempting to perform a foraminal decompression with the equivalent of a Gigli Saw was going to fly? There were a few optomists back in 2010 that spoke about flossing their teeth and never being able to live without it. That comment was pretty funny considering that flossing your teeth is much easier that threading a needle through a haystack. So why is it that Baxano is potentially in the initially stages of shut down?
Having spent many years fighting the insanity of our industry here are our observations;
- Investors are no longer interested in recapitalizing companies in the spine industry
- Reimbursement! Reimbursement! Reimbursement! We called it in 2010
- Improprerly trained distributors
- Poor surgical technique (There are only that many Ozzie Smith´s out there
- Patient Complications
Way down here you need a reason to move
Feel a fool running your stateside game
Lose your load, leave your mind behind
Oh Mexico, it sounds so simple I just got to go
The sun's so hot, I forgot to go home
Guess I´ll have to go now................Adios Amigos