Carlsmed plans to launch its corra cervical platform in the fourth quarter as it expands its personalized spine-surgery business, according to an Aug. 12 MarketBeat report.
The company expects cervical procedures to contribute a low double-digit percentage of full-year revenue as adoption grows. Its surgeon base increased 60% year over year.
Carlsmed also expects three new Medicare Severity Diagnosis-Related Group codes to take effect Oct. 1. The company anticipates the new structure will provide approximately $30,000 of incremental reimbursement for an aprevo procedure versus a non-aprevo procedure.
Carlsmed has reduced order-to-delivery time from roughly eight weeks to about one week. Gross margin was 77% in both the first and second quarters.
At the end of the second quarter, Carlsmed had nearly $90 million in cash and used less than $3 million per month during the quarter. The company expects to reach its profitability measure at an annual revenue run rate below $200 million.
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