During SI-Bone's first quarter conference call, President, Chairman and CEO Jeffrey Dunn discussed several wins for the company in 2019 so far.
SI-Bone reported 18 percent increase in first quarter revenue, which hit $15 million. It also launched a suite of single-use decorticator products in the U.S. and experienced a higher case volume than previous periods.
Here are four key quotes based on a transcription of the call from The Motley Fool:
On adding a head of sales in Germany and improvements in other European markets: "Based on these investments, our international revenue improved 36 percent on a sequential basis. We are encouraged by these initial improvements and look forward to updating you on continued international progress."
On increased productivity: "We are on track to increase the number of active surgeons from 450 during the fourth quarter of 2018 to 550 by the fourth quarter of 2019."
On the launch of SI-Bone's decorticator products last week: "We believe 5 percent to 10 percent of surgeons performing SI joint fusion prefer to decorticate the bone surface or rough up the intraarticular bone to introduce bone bleeding within the joint to assist with fusion. We now deliver a product that meets this need and which allows surgeons to pack bone in place."
On positive coverage policy updates from BlueCross BlueShield Vermont, BlueCross BlueShield Alabama and Highmark Blue Cross Blue Shield: "With these payer additions, we now have over 266 million covered lives in the United States, and approximately 62 million of these covered lives across 33 payers have exclusive coverage for iFuse."