Mazor Robotics’ fourth quarter revenue increased 40 percent to $2.7 million from $1.8 million during the same period a year ago, driven largely by demand for the Renaissance spine systems. Eleven Renaissance systems were sold in the U.S. in 2012, compared with four in 2011. Mazor also received its first system orders from Indian, Chinese, Japanese and Vietnamese distributors, according to the release.
Mazor’s year-end gross profit was up 130 percent, from $4 million in 2011 to $9.3 million in 2012. Its operating loss for the year also decreased. In 2011, the company lost $7.7 million and in 2012 $4.2 million.
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Mazor’s year-end gross profit was up 130 percent, from $4 million in 2011 to $9.3 million in 2012. Its operating loss for the year also decreased. In 2011, the company lost $7.7 million and in 2012 $4.2 million.
More Articles on Devices:
Biomet, OrthoSensor Team Up to Improve Knee Device Technology
FDA Warns NuVasive About Affix Spine Device Marketing
Regentis Biomaterials Receives European Approval for Orthopedic Implant