The drop was driven by a 73.9 percent decrease in domestic sales to $3.7 million during the fourth quarter of 2011. However, the company recently received approval for its new Category I CPT code for the L5/S1 spinal fusion using the AxiaLIF implant when performing a pre-sacral interbody fusion. The CPT Editorial Panel also voted to establish a new Category III CPT code as an add-on for surgeons performing L4/L5 spinal fusions. The new codes will be effective Jan. 1, 2013.
During the fourth quarter, the company reported 310 TranS1 procedures performed globally. For the full year, TranS1 reported $19 million in revenue, a $7 million decrease from 2010.
More Articles on Orthopedic Devices:
44 Orthopedic & Spine Devices Receive FDA 510(k) Clearance in February
Zimmer to Move Some Operations From Indiana to Tennessee
Globus Medical Settles FDA Administrative Complaint
TranS1 Reports 32% Drop in 4Q RevenueWritten by Laura Miller | March 09, 2012
TranS1 reported total revenue of $4 million during the fourth quarter of 2011, a 32 percent decrease from the same period in 2010.
© Copyright ASC COMMUNICATIONS 2011. Interested in LINKING to or REPRINTING this content? View our policies here.