Thursday, July 12, 2012

Spine = Easy Money? Just Ask BAXANO

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
The word on the Street was that Baxano generated $5 million in sales last year, and was looking for a 300% increase in sales for this fiscal calendar.  If there is any truth to that number, one must question the intent of that forecast.  Was it to appease the investors?  Considering that start úps like Baxano do not possess the same fire power as a Medtronic, DePuy, Nuvasive, or Globus, time is not on their side.  So TSB wants to know what do our readers think?  $30 million plus?  Smartest guys in the room, you be the judge. In closing TSB bids our readers a good day and remember

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

121 comments:

  1. What about Benvenue? They just announced a round of funding. Mako Surgical?

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    1. Benvenue actually offers the physician a revenue stream - a very lucrative one. Baxano costs the hospital $3,500 to do a slightly better foraminal decompression that a surgeon can do for free using a kerrison... I can understand why investors would want to give money to Benvenue. It is an innovative product.

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    2. says the vp of marketing for benvenue.....this one will sink too

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  2. If their website is anything to go by then they are a one trick pony, and that trick is only instruments and consumables. SB isnt even convinced about that tech either - I'm going to sit on the fence over that.
    If so its a classic mistake made by a number of companies - they should have bought a pedicle screw system (most of them out there can do a 1 or 2 level fusion acceptably) and some cages from another company (or better still buy the portfolio of one of the companies thats gone bust) and you can get pull through sales from your customer base to slow down or better still reverse your burn rate.
    Then they would have time to reach their goals and look like a real business.
    I think sometimes these single product companies think they have to put all their eggs in one basket to keep the invetors happy and allow and eventual sale to one of the big boys. Demonstrating novel tech and pull through is just as good in my opinion and gives a backup strategy.

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  3. Maybe these companies are relying too much upon consultants who know jack about the market. Consultants will say what the CEO wants to hear so they can stay on the stock option train.

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    1. agreed http://search.dilbert.com/comic/Con%20Insult

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  4. The issue is insurance will not pay for new technology. These companies need to stay small and collect years of data and go for insurance approval. Most companies are putting the cart before the horse.

    I have another thought. What if insurance covered vetted procedures and patients pay the difference for new technology?

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  5. Boxano? Sounds like laundry soap. Whattaya got against laundry soap?

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  6. My company was approached about distributing the product. The first time I saw the technology, I questioned the safety and efficacy. After observing about 10 cases, I was convinced of the efficacy (for the appropriate indication), but safety was still a concern. Baxano clearly understands the need to do everything possible from a rep and surgeon training perspective to reduce the probability of complications. I am impressed with required training protocol. We have carried the product for several months and done over 75 cases with no complications. This is probably attributable to a combination of training, luck and very competent neuro monitoring at the hospitals where we do cases.
    As an adjunct to a DLIF/XLIF or minimal access posterior fusion where foraminal decompression is indicated, it seems to be a solid procedure. I must agree with TSB that “the market rules” and gaining broad adoption of this concept and device is a major challenge. However, I think it fits the definition of both innovative and novel. Unfortunately, these attributes don’t always translate into long term success.

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  7. This is just a sexy/expensive version of a t-saw, which has been used in Japan since the 90s. Google it and see.

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  8. 9:59 Correct, with the key difference being the ability to hook to neuro monitoring. I don't see the t-saw being used blind, and that is a huge advantage given the challenge of foraminal decompression in many minimal access procedures.

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  9. Where does the shaved bone end up? In the canal so it can cause heterotrophic bone growth?

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    1. Great question I've wondered the same thing for the past couple years and have yet to hear a great answer.

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    2. You simply pass a small catheter over the wire thru the foramen and irrigate. Any debris is washed backed out. Most of the bone is collected on the shaver and suctioned out. There are no large pieces, it is more of a rasp.

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  10. So another potentially failing company for the CEO/President. After his success with Kyphon (1 trick pony), he jumped on with Spineology's board (at the time 1 trick pony), got investors to follow him and after Spineology's lack of ability to execute an FDA approval or maintain a sales force for more than 6 months, time for the next venture..another 1 trick pony.

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    1. Giddy up....ride those investors cowboy.

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    2. He was smart to get out of Spineology. Talk about questionable VP's......Not to mention they don't have FDA Approval after 10 years of trying!!

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    3. Spineology is still in business and growing at 30%....what was the question again?

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  11. Success with Kyphon? Was he involved in the investigation concerning medicare & medicaid and encouraging surgeons to perform procedures as in-patient instead of out-patient because of reimbursement? It seems these same players bounce from company to company with zero success! I want 1 trick pony's job!

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    1. COuldn't agree more. When you peel back the layers, I'm not so sure that TR was the driver of commercial success at Kyphon.....just a spin upon exit. TR then pulls in VP of Sales, another one from Kyphon I really question, rumors abound about his short tenure with Apatech.

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    2. Don't forget the two Area Director's and most of the Regional Sales Managers. They're all from Kyphon as well. Baxano wants to be Kyphon 2.0, but they're failing miserably.

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  12. How about Misonix?

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    Replies
    1. Rather stick with the CUSA

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  13. Kyphon's phenomenal sales growth was funded, in large part, by its
    successful efforts to sell kyphoplasty as an inpatient procedure. The
    minimally invasive procedure can be performed safely in about an hour on an
    outpatient basis. But Kyphon persuaded doctors and hospitals to keep
    patients overnight -- which allowed hospitals to charge Medicare up to
    $10,000 per procedure -- even though the patients typically had fully
    recovered within a few hours.

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  14. If I was a patient, I'd want to get out of the hospital ASAP.

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    Replies
    1. yes before they stuck something else in you!

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  15. Anyone hearing anything on the acquisition front?

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    1. I heard some Pioneer reps in the west acquired Herpes

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  16. In the words if Kelly Clarkson from her 1999 album "Pyromania", "despite all my rage, I'm still just a rat in a cage".

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    1. Keep em coming! Cracking up! Love the guy who took you seriously last time!

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  17. What about VTI being purchased by Medtronic?

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  18. VTI Spine is an innovative product. Good reimburse as well.

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    1. Innovative? Can we get serious. With Jeff Felt at the helm and Asdourian calling the shots this company is going nowhere. Another self promoter. How much investor money has this clown burned through?

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  19. Kyphon never told doctors to do the procedure as an inpatient procedure. When you were looking at 4000 per case cost and the reimbursement was 2500 as an outpatient or 12000+ as an inpatient you didnt have to be Bill Gates to decide to do it as an inpatient procedure. Kyphon never told surgeons where to perform the procedure. One of the whistle blowers was as amoral as they come and only found "God" after he was fired. Stop being jealous of Kyphons success because you didnt cash in! It was a once in a lifetime ride and if you werent there don be a hater!

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    1. Physicians made the same in patient or out patient, my first 50 were not paid at all.

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    2. so i guess that is why Medtronic paid $75 million to settle?

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    3. It wasnt in patient vs out patient only. In the very beginning, the said to bill it as an ORIF. Many docs relayed that to me when they were trained.

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    4. The hospitals made much more for in patient not the docs. The surgeon fee remained the same $495.

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  20. 75 million plus interest and a corporate integrity agreement.

    7:24 has been sniffing too many Kyphon cement fumes in the OR

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  21. This is 2012 not 1998. Venture backed companies are shifting their focus to get to cash flow positive rather than just running up the top line (aka Nuvasive in the 2000s). Like TBS states the 'market decides'. In this case the finance market ! How you drive the top line actually matters now. I'm a spine surgeon who works with three companies in the bay area I see lay offs and subsequent hiring all the time. Layoffs are cyclical and don't usually mean much in my opinion. Always tough to read progress or stuttering of public companies... Never mind secretive private companies. Good luck trying to determine Baxanos long term fate based on this news/ rumor.

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  22. http://news.priorsmart.com/spinal-generations-v-atlas-spine-l5ig

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  23. There are reason(s) why this company terminated the VP of Sales along with a few other people. Could they be manipulating the books? Could they be allowing distributors to do cases without adequate training? You do not fire the VP of Sales if you are successful. Remember privately held companies can do whatever they want to do, who provides oversight? A stacked BOD? Is Frank Phillips even involved with this company anymore, or was he window dressing for potential investors? As TSB says, the market determines your fate. Something smells fishy in San Jose.

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    1. Philips does not dress windows, he fills coffers. He probably joined because he had good success in that department during his very short stint as board member of Kyphon. As a 'thank you' his staff wrote an uncannily positive lit review on kyphoplasty without his name anywhere on the author's list.

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    2. 10:42 you are hilarious, Phillips fills coffers LMAOL

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    3. Yup. Issues with VP of Sales.

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  24. Heard Spineview may get taken out by Medtronic too? We also distribute the Baxano tool. Agree with 9:39 am comment yesterday that training was too long -- but probably helped avoid complications. The company has been boasting some pretty impressive clinical data but I haven’t seen any real details yet. I can say that we’ve had it for more than 6 months and our docs seem to love it and it works well -- especially for fusion cases. I Talked to their rep who is at the Baxano National meeting this week….He said their CEO is celebrating several term sheets from investors, that they have absolutely no cash problems, and >250% growth for this year. He did admit to the reduction in workforce but said they were ‘cleaning house’ a bit to make themselves cash flow positive and make sure this would be their last round of money. I wouldn’t stick a fork in these guys just yet…

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  25. K2M and Globus are in talks to merge before ipo filing. Sources say that if K2M allows David Paul to retain equal ownership value in merged company it will go through.
    Thoughts?

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    1. This is not true at all.

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    2. Why would Globus merge with a company a third to a fourth their size and the CEO/Owner want equal ownership? I think it is potentially a merger that makes sense as K2M has a good deformity line and Globus is lacking in that department but after that there is a lot of redundancy. Moreover the perception is both companies shares are extremely diluted with surgeon ownership and that seems to be their biggest hurdle to going public or being bought. Yes I know Globus filed to go public but they haven't yet and may be surprised by the reception as diluted as the shares are. I don't think K2M helps them in that department.

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    3. Another person who does not know what they are talking about.

      K2M shares are not diluted by surgeon ownership because they are not owned by surgeons. They are owned by a private equity firm called Welsh Carson. Welsh Carson purchased K2M almost 2 years ago. Please do not publish misinformation.

      Make sure you do your research before making claims.

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    4. I am well aware of the private equity firm Welsh Carson purchasing K2M. I seriously doubt they purchased 100% of the company in fact the K2M press release only states that they have a majority interest, which could be as low as 51% if my math is correct. In fact, the rumors on the street were despite Welsh Carson's purchase of a percentage of K2M there was still too much surgeon ownership for other big companies to pull the trigger (Smith and Nephew, etc.). Now I don't know any of this information to be true or untrue but I know it was widely reported and speculated. If you have information or a opinion otherwise by all means share but a tell tale sign that backs up opinions on the other side of yours is that K2M has not been resold. I seriously doubt Welsh Carson bought a majority interest in K2M as a buy and hold position. Telling me that there is no surgeon ownership is a little difficult to validate as K2M is still a private company. It is like Precision Spine purchasing Spinal USA. I certainly don't know what all the ownership ramifications are of that transaction or the motives but I can take an educated guess and am entitled to an opinion. I would like to think my opinions are formed from careful consideration of information available and not misinformation like there is no surgeon ownership because Welsh Carson bought a percentage of a company. Here is a link to do your own research Eric, John or David.

      http://www.k2m.com/press_releases/view/31/welsh-carson-anderson-stowe-to-acquire-majority-position-in-spine-firm-k2m

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    5. Makes about as much sense as NUVA and Lanx merging and Alex getting equal equity. WTF!

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    6. When Welsh Carson purchased K2M, regardless of the 51% ownership, all surgeon involvement prior to that was eliminated. Surgeon investor's were paid out on their investment and stock, and are not allowed to have a stake in the company anymore. It is nothing like Precision Spine purchasing Spinal USA. That was a spinal group purchasing the POD they and others have been using. Welsh Carson purchased K2M in order to help take a fledgling spine company public. Research Welsh Carson. They do not haphazardly involve themselves with any companies. They did their due diligence. K2M was in talks with S&N for a while and jumped at the opportunity with Welsh Carson to become a legitimate standalone spine company and not just the spine division of an orthopedic company.

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    7. Someone owns the other 49%? I guess Eric and Dr. K own that? The rumor, which of course I don't know to be true is that deal was brokered so that K2 could shed their surgeon ownership, go legit and to sell to someone else. Plenty of spine companies have gotten big investments from reputable venture capitalist so I hardly think an investment from Welsh Carson validates K2, I would be very surprised if they have a 100 million in sales and my guess is 2012 sales are flat. No one on this blog is scared, intimated or gives a shit that Welsh Carson made an investment in K2. Given declining pricing, declining volumes and PODs (not to mention the other 150 competitors) it looks like a pretty bad investment to me.

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    8. Keep thinking sales are flat and under $100 mil. I and my reps are laughing all the way to the bank as we continue to take market share. Keep underestimating. It is working wonders for my bank account.
      Now for a reality check. K2 isn't a threat to unseat Medtronic, Stryker or even Globus. However, we will continue to grow, take market share and develop into a mature stable spine company. I heard the same slighting statements 7 years ago about Globus. Last check they're still around, doing well and according to their S1 filling have a very desirable balance sheet.
      So yuck it up and make your sophomoric slights all the while looking nervously over your shoulder. The footsteps are getting closer. Even worse, the steps are speeding up as your own falter.

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    9. When I look over my shoulder, which I do from time to time, I don't see k2m. I am glad you and your reps are making some money off surgeons who are or were investors. Funny thing is in the states we sell in k2m has about 300,000 in business. At 30% commissions that is about 90k in earnings so around here k2 is not doing much laughing. Now comparing Globus and k2m that is laughable.

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    10. As usual a self centered individual who thinks what is local is global. Myopic and stupid. Hopefully you wear glasses in the OR.

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    11. Funny thread.
      Fact:
      K2 is above $100M.
      K2 has no surgeon investors.
      K2 is growing in double digits and not flat.
      K2 is for sale. Isn't everything?

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    12. 11:49 The self centered individual who thinks local is global is probably you my friend. Don't mistake your local presence (probably East Coast) for a strong National or Global presence.

      1:31 How do you presume to know all of those facts as K2 is a privately held company. I am guessing your an employee of K2. You would have to be upper management to know those facts otherwise your regurgitating information that has been passed down to you.

      Guess:
      K2 is barely above a $100M and certainly most likely under $120M in a 7 Billion dollar Spine and Biologic market. Strong Tier 3 company that is hardly a threat to the Tier 1 companies. That I am even in this discussion is an attempted complete over reach by some K2 tool or Welsh Carson idiot.
      K2 is probably still flush with surgeon investors, consultancy surgeons or royalty surgeons or they are not growing at double digit rates in this market. Your product line is that great!
      K2 is not that attractive to potential buyers when they lift up the skirt or someone would have already bought them.

      Everything is for sale but when you can't find a buyer maybe it is not worth as much as you think. I am sure around here they will go from $300,000 to $333,000 if they can manage one more scoli case and satisfy your double digit growth.

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    13. 3:22P
      It's just you with all the crap throwing. I never claimed that K2 was growing at an astronomical rate. Just stating the facts of above 20% when you threw around the lie about being flat. Again, you look at and give an example of what's happening around you. I'm doing well in my area, but so are others around the country.
      As for surgeon investors, all my supporting surgeons (7) came on board with me last year and had never used K2 products.
      Maybe your typical excuse as I've heard from other weak reps is based on your losing business because the doc is an investor or consultant. Sometimes you simply get outsold.
      As far as lifting up the skirt, maybe you should check yourself. How much would someone pay for you? Several have looked at Globus and passed. Yet their their financials are stellar. Go figure.
      Cheers Mr. Myopic.

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    14. 1) Your making my argument for me. The reasons people/companies give on passing on Globus is diluted ownership, concerns of patent infringement and quality control. And they always want too much. So their financials aren't that good and they face many of the same issues that K2 faces. Only they have three times sales, more intellectual property, higher growth rates and launched 12-15 products last year. Looks like Welsh Carson bought a dog because if people are passing on Globus that is bad news for Y2K!
      2) If you can get seven surgeons using K2's cervical plates I tip my hat.
      3) I am getting paid pretty well.
      4) Come up with a product not named a mountain. I would be great if Lanx and K2 merged than you could corner the market on all the products named mountains. Oh no, what would the rest of spine do not being able to name their product a mountain. That would be a good thread!

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    15. I guess the point you still miss is K2 and a hand full of other companies are actually growing. Hopefully you work for a company that is also growing.
      Go ahead and smart off as I have my 7 docs use Blue Ridge and Pyrenees next week Oh yeah, and Everest is a great pedicle screw system that not even the great Medtronic can compete against - CoCr head with Ti screw shank and can choose intraoperatively between 5.0 & 6.0mm rods in both Ti and CoCr.
      It's good to be on top of the mountain. You should try it once. Or not.

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    16. I love seeing Eric and Lane argue on this blog.

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    17. I love seeing Eric and Lane argue on this blog...over a weekend no less, Ha!

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    18. Double yawn to both 10:30 & 10:33A.
      If K2 weren't growing and wasn't taking market share you wouldn't even waste your time trying to belittle them.
      See you in the O.R. this week. For this week I have 3 Mesa Deformity cases, 8 cervicals, 2 Serengeti cases and 3 posterior cervicals using Denali-Mini. July is turning into a fabulous month. Hope you're having as good a summer as well.

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    19. I find it interesting that any K2 thread discussion always has a champion responding to every comment. It appears that this sight is monitored 24/7 by a PR rep concerned that it might be revealed the emperor has no clothes.

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    20. Could be but doubtful. More likely a rep for K2 doing well and wanting to blow his own horn. Nothing wrong with wanting to take pride in ones accomplishments.
      Can't be so kind though to the ones who work for the legacy companies and want to throw stones and disparaging remarks at every startup company or those doing less than $500 mil. Without all the mergers of small companies Medtronic would still be a cardio focused company (Cotrel + TSRH + Danek+ ...). For DePuy it's the same with the merging of Motech + Acromed. Frankly, Synthes is the only billion dollar spine company that got there by organic growth.
      Smile at the smaller companies. Who knows, they may become part of your corporate structure and offer you more opportunities.

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    21. There is no lack of admiration for small companies on this board. There is however, skepticism for small companies that make big claims, especially when they can't be validated or substantiated.

      I find it very difficult to believe K2 is growing 20%+ in this markets They must have learned how to make a screw that doesn't break.

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    22. Yep. Skepticism abounds regarding the ability of what others are able to do when you or others seem to be mired in the mud and are breaking even.
      Look at Globus' S1 filing for example. I used to hear all kinds of skepticism regarding their sales volume, cost of goods sold and available cash on hand. All three were proven mute. COGS is as good as Synthes and any other medical device company out there. Sales volume - in less than 9 years 40% the size of DePuy or Synthes on their own. Cash on hand, impressive with close to zero debt.
      It's called taking market share to grow in today's market. There's no secret K2 has had several new distributors come on board in the last year that have driven bottom line sales. In the near future, K2's own S1 filing will substantiate the progresses made over the last two years.

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    23. You keep making my point Mr. PR person.(6:47)

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    24. And your point is...?

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    25. Mute? I think you mean moot!

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    26. You are correct. Auto typing is convenient but at times the wrong word is chosen.

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  26. regardless of the legal issues surrounding Kyphon and reimbursement, Tony Recupero did a brilliant job as a VP there motivating the sales force to achieve tremendous growth by demanding results and steering the sales team in directions ex building referrals which now is heard over and over in companies trying to build a sales model "just like Kyphon". His Achilles heel though is his inability to adequately judge the mid and upper level managers he hires. He tends to surround himself with cronies who blow smoke up his ass instead of those willing to tell him the truth. One needent look any further than the current crop of managers he has under him now: Joe B out west who is as vain and as despised a manager as one could meet, Chad T in the east, who overestimates his self importance more than practically anyone, and the hapless Todd C, who is saldy way over his head.

    In the past Tony has put his faith in kiss-asses who ruthlessly and cynically misuse their "powers" to intimidate and abuse their independent-minded and successful subordinates and take the glory for themselves--until the grvy train runs out, of course. These folks can now be found up to their old tricks at organizations like Nuvasive (Roger Y is the easy target) and other semi-conscious start-ups...Jim B (late of Neuronetics)...etc etc

    Let us hope that next time Tony gets a shot to run another gig, he pays better attention to his Lieutenants who have impeded his otherwise strong business acumen at raising funding and sales leadership.

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    1. Agee with the kiss ass managers selected by Tony. But seriously, do you think Kyphon was a success because of him or because it was a great procedure that had immediate pain relief. If anyone should take credit for Kyphon's success...it is Mark Reiley MD.

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    2. 10:53 - well said and on point

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    3. Wow, jealousy doesn't become you! Same chip you carried years ago with the same people! Tony & team seem to know their stuff and post the numbers to prove it. If there wasn't loyalty, you wouldn't have a team so yes, Tony has loyal people at the lieutenant level but truly at the end of the day, it is scoreboard and these people can post the numbers. Like Kyphon, I'll be waiting patiently for these lieutenants to push the numbers on the scoreboard to higher digits and greater things in the next few years and you should too if you want to make a dime.

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    4. I work at a busy OR scheduling desk in California. It is obvious the comment about the West Coast team is from a "hater" as I've worked with these guys including Joe B and Tony prior to Kyphon...couldn't ask for a nicer group of people. Always has time to stop by our desk and check in on us as people and colleagues, not just hawking product. If you're going to call a man out and call him names, don't do so anonymously, tell the man who you are or don't do it.

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    5. I got laid off on Tuesday. Truthfully, the comments made about Chad or Joe couldn't be farther from the truth. Most of us have followed these guys from company to company and done so because they are fair, know the business, look out for you and make the number as a region. I have a feeling the comment was posted by a young guy with a big mortgage and bigger mouth that felt he was entitled to a free ride...one doc liking you doesn't make the company nut. Most of us don't feel that way and appreciate the extra help these guys gave us after the layoffs to connect with recruiters, hiring managers at other companies, etc.

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    6. @11.25...i think reilly gets the credit for the invention, but Tony deserves the respect and the kudos for getting laying the foundation and getting it out there and making many people a lot of money.
      @5.13...evidently you confuse loyalty and kissing ass. Tony is a sound businessman and a good leader. It his his lieutenants that display a kiss-ass loyalty to him and feel because they are tight with him they can treat people like crap. And I dont need to make a dime off him or you. I have my own surgeon customers who respect me and keep me happily employed without the shenanigans.
      5.24...I dont doubt your observations one bit. If you are a paying customer, Im sure they will treat you with respect and politeness. But you may not know how it works on the inside.
      9.34...If they do all of those things, why'd you get laid off? why is the company in trouble? why get rid of producers like you and not redundant managers? perhaps instead of this totem pole of leg humpers following one another around, you did it the right way and earn the business and that management promotion. and my mortgage is paid for, thanks. staying at one job for 8+ years instead of "the get rich and jump while screwing everyone else" trick isnt for me.

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    7. 10:53 is spot on!!

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    8. 10:53 you nailed it. Maybe if Baxano turned it up to 212 degrees and applied some iO-Flexibility, they could have figured out a better solution than letting great producing people go.

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  27. In my opinion Baxano is one of the few innovative solutions in the entire spine space. I would love to see this and some other select spine start ups (Spineview, Sympirica) who don't go the "me-too" route and instead take a risk and really innovate something that can help patients. God knows we need some success stories to rally behind. The big question is can Baxano make real money selling the smart T-wire thing (called iO-Flex on their web site) for themselves and their distributors. If they really did $5MM last year and grow 250% this year that's actually a good start. Anybody know someone who is carrying this product in the southeast ? Is this being used in decompression or fusion cases ? I'd like to hear from real folks who are trying to sell it and learn of their experience. I have only one contact who is selling it and he's almost cultish about its promising prospects...very bias as he has drunk the cool-aide.

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    1. Wise commentary! Obviously you too see the potential and I don't even carry their bag but have seen the cases build at the OR scheduling level. Cult or not, there is something to it.

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    2. Congratulations, 5:16pm!!! You're the 1000th commenter on TSB to use the lame-ass "and I don't even carry their bag" line which, of course, means that you have won the grand prize!! You sir, will receive a 1 year supply of your current job as a shady distributor rep, and then you will be replaced by some dumb bimbo that your distributor just met about a month ago on a singles cruise to Cozumel.

      But wait! That's not all! We still have more prizes to give away!! Commenters #990-999 will all receive a 1 month supply of their current jobs as dubious distributor reps before being kicked to the curb to make room for their choice of A) an ex-pro baseball player or B) your biggest customer's favorite niece.

      Congratulations to all of our winners! You all did real good. Reeeal good. All of your Ma's and Pa's would be real proud.

      Delete
  28. Why is Bacterin still in business?

    ReplyDelete
    Replies
    1. its called cook da books

      Delete
  29. TSB for once I agree with you!!! Yes, I say it again...I agree with you. Take a look at their website before all this happend. What a joke. Trying to get any info on the product or even surgical tech (if there was ever even one made) was and is a joke. Companies with solid products and IP don't need to hide what they are selling to the surgeons or masses. Goodbye to them!

    ReplyDelete
    Replies
    1. This company has more marketing and training materials than any other company I represent. Their training is thorough and relevant. It's a pain in the ass which means you should know what you're doing when you complete it. It is the most detailed surgical technique I have ever seen. For you to judge a company because you can't find something online makes you look completely idiotic. Maybe they don't want guys like you to be able to learn about their product. People selling it and their customers don't seem to have any issues getting information. Who else matters? Toads like you?

      And TSB, I know this is your favorite game to try and act like you know everything about a company based on the press releases. It is even more addictive to you when you think you can portend the demise of a company. You may want to hold off on sticking a fork in this one.

      Delete
    2. 12:52 sounds like the idot about to lose all that $$ he has invested in this POS company....

      Delete
    3. 12:52 how thin skinned are you? You know TSB? You know nothing. News is news whether it's good press or bad. The industry sucks and it stems from the top down and not vice versa.

      Delete
  30. Two things motivate people and those are fear and money. Since nothing ever happens to the criminal corporate officers and the boards of directors perhaps their names and addresses should be made public so that real justice can be done by their victims.

    ReplyDelete
    Replies
    1. So when are you going to man up and exact revenge on those responsible for your miserable disposition? Oh, that's right. You wouldn't be able to stop beating your parents silly for raising such an obtuse, miserable, flatulent bag wind.
      J

      Delete
    2. What FB is speaking of is already in the works. Think about it. The ruling class is very visible and very vulnerable. He has linked to a lot of para military sites.

      @ J: If anyone is obtuse it would be you. Get off the plantation peasant and go after your masters Uncle Tom.

      Delete
  31. Congratulations, 5:16pm!!! You're the 1000th commenter on TSB to use the lame-ass "and I don't even carry their bag" line which, of course, means that you have won the grand prize!! You sir, will receive a 1 year supply of your current job as a shady distributor rep, and then you will be replaced by some dumb bimbo that your distributor just met about a month ago on a singles cruise to Cozumel.

    But wait! That's not all! We still have more prizes to give away!! Commenters #990-999 will all receive a 1 month supply of their current jobs as dubious distributor reps before being kicked to the curb to make room for their choice of A) an ex-pro baseball player or B) your biggest customer's favorite niece.

    Congratulations to all of our winners! You all did real good. Reeeal good. All of your Ma's and Pa's would be real proud.

    ReplyDelete
    Replies
    1. I see you didn't make your number! If a ex-pro baseball player or a customer's favorite niece can make the number, ask yourself why you couldn't...now there's a good question. Please don't apply at my company, we don't hire whiners, complainers or folks that don't make the number.

      Delete
    2. Read the comment again, 8:05pm. That is, if you know how to read.

      Delete
  32. one should ask chad why they did not make the numbers? he has a small posse that has no management experience and he runs into the ground..they ask the distributors to falsify documents and create fake purchase orders. they put so much pressure on the distributors

    ReplyDelete
    Replies
    1. Careful, you identity is showing!

      Delete
  33. 8:49 you speak the truth, it goes beyond that...

    ReplyDelete
  34. Does ANYONE have good experiences repping Osteocel to their key guys? That sh*t doesn't do a damn thing. Make me scared that I will lose their trust.

    ReplyDelete
    Replies
    1. Osteocel is just smoke and mirrors. Total POS

      Delete
    2. Yes, I have a good experience. My surgeons use Osteocel Plus on virtually every spine procedure - even if they aren't using Nuva metal. Why? It works. Patients fuse. It's ICBG in a jar. Super-easy. No need for BMA, No worries about BMP. And...it's FDA approved for anywhere in the body. The proof is in the pudding. If only I could upload some images.

      Delete
    3. I see good results with OC+. Even if the cells are crap you are getting pretty fresh allograft.

      I would rather have ICBG in my grandma's back, but if you're are looking for good results and less midnight pages for iliac crest pain post-op it's a good product.

      Delete
    4. 3:34: Osteocel isn't "FDA-approved" for any indication--it's a Human Tissue Product. Which means it (amazingly) was able to enter the market without any clinical evidence. So it's not "approved" by the FDA--they just didn't have to present any evidence beyond tissue safety standards... The lack of clnical evidence is why insurers are starting to class it as "experimental" and deny reimbursement...

      Delete
    5. 2:28 - you are clueless.

      Osteocel Plus is cellular allograft, and when used in the spine is classified under CPT CODE 20930:

      "Allograft, morselized, or placement of osteopromotive material, for spine surgery only (List separately in addition to code for primary procedure)."

      It is the gold standard ICBG, without the post-op pain.

      Delete
  35. How do these guys keep getting VP positions?


    Vice President, Sales
    Baxano, Inc.
    August 2010 – Present (2 years)

    National Vice President of Sales
    Apatech Inc.
    January 2009 – June 2010 (1 year 6 months)

    Sr. Vice President, Sales
    Interventional Spine, Inc.
    June 2007 – September 2008 (1 year 4 months)

    Director, Spine Education
    Kyphon Inc.
    January 2002 – November 2006 (4 years 11 months)

    ReplyDelete
  36. Todd killed it at Apatech and Kyphon. I don't know about Baxano, only because I don't know the numbers. The rest of you guys trashing Todd are pathetic, jealous losers.

    ReplyDelete
    Replies
    1. A director of education killed it? Why would anyone be "jealous"? Seems to me many short term stints.

      Delete
    2. no one is trashing anyone. it seems commonplace in this industry that ANYONE with VP on their resume gets carte blanche to change jobs frequently with no adverse consequences. However that is a topic for another day, not this Borax.. Boxano topic.

      Delete
    3. Killed it ApaTech?? Not quite. Yes, ApaTech did very well commercially. Their sales and marketing efforts were key to their overall success. But everyone knows that the sales leadership was really Czick at ApaTech....not TC.

      Delete
    4. Czick is a Rockstar!! TC is incompitent, inarticulate, unitelligent, and essentially a gutter snipe. TC take the credit for any accomplishment at any company he's been at and blames any downfall on everyone and anyone else he can. He has no skill set and only gets hired because of who he knows - definitely not what he knows.

      Delete
  37. Article 2

    The Company to survive the merger is Spinal USA Inc., a Delaware corporation.

    https://business.sos.state.ms.us/imaging/33940003.pdf

    Didn't mention this in the press release.

    ReplyDelete
  38. Once again you robot bums are at it again! So funny to read. Spine view? Ha!!! As long as Mark Checci is pretending to be back on the high school wrestling team they should certainly end up in the toilet. Baxano? Name a surgeon who isn't paid that has done more than a couple cases? Dare you!

    This industry is such a clown fest. You robots will be like all those IT guys who got laid off in the early 2000s only to realize the job market has steam rolled past you guys in the real world and you will be left standing with your resume in your hand like a washed up rag!

    Keep it up boys and gals cause it coming....

    ReplyDelete
  39. I did some sniffing around and I found that there are no plans to even have a motion constraining shock absorbing disk implant in the US. I realize that this is off topic but I would love to hear from other insiders on this.

    Let's say what it is. 3 or 4 companies run the medical device end of the FDA.

    ReplyDelete
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