TranS1 medical device company posted a net loss of $12 million for the fourth quarter of 2012, due in part to increased operating expenses from a government settlement. The company lost $4.9 million during the same time period in 2011 and $29.9 million by the year's end. Its 2011 losses totaled only $18.2 million.
TranS1's total operating expenses were up nearly 85 percent from the fourth quarter 2011, from $7.9 million to $14.5 million. Included in operating expenses was a $6.6 million charge related to a U.S. government settlement. TranS1 paid a total of $32.9 million toward the settlement in 2011 and $40 million in 2012.
In a move to expand its focus on minimally invasive lumber spine treatments, TranS1 recently acquired Baxano, a manufacturer of spinal decompression devices.
More Articles on Devices:
Symmetry Medical Launches Self-Retaining Rotilt Ratchet
AxoGen Names Shawn McCarrey as Senior VP of Sales
Lanx Releases ALTA Cervical Spine Fusion Device
TranS1's total operating expenses were up nearly 85 percent from the fourth quarter 2011, from $7.9 million to $14.5 million. Included in operating expenses was a $6.6 million charge related to a U.S. government settlement. TranS1 paid a total of $32.9 million toward the settlement in 2011 and $40 million in 2012.
In a move to expand its focus on minimally invasive lumber spine treatments, TranS1 recently acquired Baxano, a manufacturer of spinal decompression devices.
More Articles on Devices:
Symmetry Medical Launches Self-Retaining Rotilt Ratchet
AxoGen Names Shawn McCarrey as Senior VP of Sales
Lanx Releases ALTA Cervical Spine Fusion Device