WEST CHESTER, Pa., Jan. 23, 2025 /PRNewswire/ — Centinel Spine®, LLC (“the Company”), the leading global medical device company focused exclusively on treating cervical and lumbar spinal disease with the most complete and clinically-proven total disc replacement (TDR) technology platform in the world (prodisc®), today announced achievement of record fourth quarter and full-year 2024 business results, positioning the Company for continued accelerated growth in 2025.
Centinel Spine continues as one of the leading growth companies in the spine industry2 and is dedicated exclusively to total disc replacement, one of the fastest growing segments in orthopedic implants. The Company remains well-positioned from a profitability perspective, achieving record EBITDA positive performance in the fourth-quarter and full-year 2024.1
Fourth Quarter 2024 Highlights
- Record worldwide prodisc TDR revenue of nearly $30 million, representing 47% year-over-year (YOY) growth.
- Record worldwide prodisc Cervical revenue of almost $17 million, a 38% YOY increase, and prodisc Lumbar revenue of nearly $13 million, up 62% YOY.
- Record U.S. prodisc TDR revenue of over $25 million, up 52% YOY.
- International prodisc TDR revenue of $4.6 million, up 27% YOY.
Full-Year 2024 Highlights
- Record worldwide prodisc TDR revenue of over $95 million, a 38% YOY increase.
- Record worldwide prodisc Cervical revenue of over $59 million, up 39% YOY.
- Record worldwide prodisc Lumbar revenue of nearly $36 million, up 35% YOY.
- Record U.S. prodisc TDR revenue of nearly $77 million, up 41% YOY.
- Record U.S. prodisc total surgeon user-base of over 1,100 surgeons, a 44% YOY increase.
- Over 1,000 U.S. healthcare facilities used prodisc, a YOY increase of 28%.
- Record International prodisc TDR revenue of over $18 million, representing growth of 24% YOY.
Highlights on the New Match-the-Disc™ prodisc Cervical TDR System
- Over 9,000 procedures completed with the new system in the U.S. through the end of 2024, after limited release in Q3 2022.
- The new system drove a 46% increase in full-year 2024 U.S. prodisc Cervical revenue.
- Added an average of over 100 new surgeon users per quarter to the Match-the-Disc system in 2024, increasing the total number of surgeons using the new prodisc Cervical system to over 900.
- Strong majority of new surgeon users came from competitive conversions and remain repeat users.
Key 2024 Highlights Positioning the Company for Accelerated Growth in 2025
- New surgeon-user growth:
Added a record 665 new prodisc users in the U.S. in 2024, a 90% YOY increase. - Release of prodisc C Nova Cervical TDR product:
With the limited release of the prodisc C Nova technology in October 2024, Centinel Spine now offers four distinct anatomic products in the Match-the-Disc prodisc Cervical TDR System. - Long-term lumbar TDR publications:
More data with positive long-term implant survivorship continues to be published, including one of the largest evaluated cohorts of patients undergoing lumbar TDR, demonstrating robust long-term clinical success and lifespan of the prodisc L Lumbar TDR system.3 - Strengthening lumbar TDR reimbursement:
With additional favorable U.S. payor coverage decisions throughout 2024, patient access to the prodisc L Lumbar TDR system continues to expand—with one-level reaching nearly universal coverage and two-level coverage now over 35%.4 - Increasing patient demand for TDR solutions:
As public awareness of the potential benefits of motion-preserving solutions builds, demand for the TDR procedure is expected to be increasingly driven at the patient level. Based on internal patient search data from the Company, patients seeking TDR surgical care increased by nearly 70% in 2024 over 2023.5 - Medical Education driving expanded surgeon TDR usage:
The Company trained over 800 surgeons in 2024 through its well-established global Medical Education program. - Supply chain expansion:
The Company expanded and strengthened long-term global supply chain partnerships, significantly increasing prodisc implant manufacturing capacity throughout the year.
Centinel Spine CEO Steve Murray adds, “The Centinel Spine team achieved records in all aspects of our global business in 2024. We are exclusively committed to total disc replacement, with the goal of becoming the clear global leader in this fast-growing segment of the spine market. The prodisc technology not only offers the benefits of our “Match-the-Disc” innovation, it is coupled with the longest demonstrated history of clinical success in disc replacement. We are all-in on total disc replacement and well-positioned for continued success in 2025 and beyond.”
- 2024 adjusted EBITDA is based on unaudited financials.
- Based on publicly available information.
- Marnay, Thierry P.; Geneste, Guillaume Y.; Edgard-Rosa, Gregory W.; Grau-Ortiz, Martin M.; Hirsch, Caroline C.; Negre, Georges G. Clinical Outcomes After 1 and 2-Level Lumbar Total Disc Arthroplasty: 1,187 Patients with 7 to 21-Year Follow-up. November 22, 2024. J Bone Joint Surg Am. 2024;00:1-13. http://dx.doi.org/10.2106/JBJS.23.00735
- Data on file, estimate based on combined positive and neutral policies.
- Data on File, based on Centinel Spine Surgeon Locator search data in 2024 vs 2023.
About Centinel Spine, LLC
Centinel Spine®, LLC is the leading global medical device company exclusively focused on addressing cervical and lumbar spinal disease with prodisc®, the most complete total disc replacement (TDR) technology platform in the world.
The Company’s prodisc technology is the most studied and clinically-proven TDR system across the globe, validated by over 540 published papers and more than 275,000 implantations. Centinel Spine’s prodisc is the only TDR technology with multiple motion-preserving anatomic solutions, allowing the surgeon to Match-the-Disc™ to each patient’s anatomy for both cervical and lumbar total disc replacement.
For more information, please visit the company’s website at www.CentinelSpine.com or contact:
Varun Gandhi
Chief Financial Officer
900 Airport Road, Suite 3B
West Chester, PA 19380
Phone: 484-887-8871
Email: v.gandhi@centinelspine.com
SOURCE Centinel Spine, LLC