Our portfolio evidences a philosophy of developing safe and effective, value-added spinal implants are designed under the mantra of simple and reproducible.” - Joseph Jin, vice president, Medyssey Spine
Orlando, FL (PRWEB) October 7, 2010
Medyssey Co., Ltd. (Medyssey Spine), today announced a record 112 percent increase in sales in Q3 2010 compared to Q3 2009. Medyssey Spine, privately held, reports that year-to-date sales are up 73 percent over 2009, and the Company is on pace to achieve its seventh consecutive year of market share growth in the spine market.
The announcement was made at The North American Spine Society (NASS), which is holding its 25th Annual Meeting in Orlando, FL from October 5-9 at the Orange County Convention Center in Orlando. Medyssey’s booth number at NASS is (2051).
Company officials attributed the increases to completion of regulatory clearances, several additional key distributors in emerging markets, as well as the launch of its U.S. sales initiative.
Commenting on financial and operational results, Joseph Jin, Medyssey Spine’s vice president said, “Our growth is a testament to the strength of our expanding global distribution footprint and launch strategies in markets such as Brazil, China, and the U.S.” He added, “We are now in a strong position on a number of measures, including significantly increased cash flow, reduced debt, and robust products in the pipeline.”
In the U.S., Mr. Jin said, “An aggressive launch cycle will continue with the regulatory clearance of products currently in submission with the FDA, our U.S. Headquarters relocation to Chicago, IL, and expected logistical efficiencies for our operations in Q1 2011. We remain extremely optimistic about continued growth and achieving our forecasts for 2011 as we officially launch our thoracolumbar portfolio and new product extensions at NASS.”
Medyssey Spine recently marked a milestone of 2,200 instrumented cases of its WavefleX Posterior Semi-Rigid Rod System, a dynamic stabilization device with indication as an adjunct to fusion in Asia Pacific and the EU.
“Surgeon response has been overwhelmingly favorable,” said Mr. Jin. “The key clinical differentiators of our technologies are resonating with surgeons.” He added, “Our portfolio evidences a philosophy of developing safe and effective, value-added spinal implants are designed under the mantra of simple and reproducible.”
About Medyssey Spine
Medyssey designs, develops, manufactures, and markets products for the surgical treatment of spine disorders through novel instrumentation and orthobiologics solutions aimed at improving spinal fusion rates, preservation of mobility, and clinical outcomes. Please visit http://www.medyssey.com for product information.
Todd E. Appleman
The Appleman Group
# # #