The company reported $161,678 in quarterly revenue, representing a more than $116,000 decrease from the third quarter of 2010. During the third quarter, the company introduced orthoPACE to the European market, which incurred a one-time charge associated with sales of demonstration for the device.
The company’s research and development spending also decreased by 38 percent during the third quarter of 2011, due to reductions in costs associated with its Phase III clinical trial technology for treating foot ulcers.
Related Articles on Orthopedic Device Companies:
Zimmer Acquires XtraFix External Fixation System
Stryker to Cut 5% of Workforce Preparing for 2013 Medical Device Excise Tax
Wright Medical Group to Focus on Extremities After Sales Decrease of 3%
