In February, Becker's published a list of 23 spine device companies to watch in 2022. Here is what they have been up to this year:
1. Medtronic (Dublin, Ireland): Medtronic had a busy year in orthopedics, being named to Forbes' "World's Best Employers" list. It also announced two spin-off businesses in October. It announced a partnership with Australian medtech company Dorsavi. Despite seeing revenue decreases in 2022, executives said that Medtronic's spine business "remains attractive."
2. Johnson & Johnson-DePuy Synthes (West Chester, Pa.): Johnson & Johnson led the pack in quarter three orthopedic revenue, raking in $23.8 billion. Its total sales increased by 1.9 percent. In October, DePuy also received clearance for a new minimally invasive spine platform. It has also hinted at the development of a new spine robot to rival medtech giants Medtronic and Globus Medical.
3. Stryker (Kalamazoo, Mich.): In November, Stryker opened the OR of the Future, a model operating space in Flower Mound, Texas. It finished the third quarter with $4.5 million in net sales, with a 7 percent year-over-year sales increase. Additionally, Stryker announced plans to develop its Mako robot for spine and shoulder use.
4. Zimmer Biomet (Warsaw, Ind.)/ZimVie (Westminster, Colo.): Zimmer Biomet upped its ASC presence this year, reporting that 30 percent of its robots are now being sold to ASCs. While its net sales dipped slightly in the third quarter of the year, it still reached $1.7 billion. The device maker also received FDA clearance for a shoulder system, and partnered with Surgical Planning Associates for a hip replacement navigation system.
5. Globus Medical (Audubon, Pa.): Globus Medical had a strong first quarter in 2022, growing 1.4 percent in net sales, reaching $230.5 million in revenue. It also struck a partnership with the National Health Service to bring its ExcelsiusGPS robot international. Its third quarter sales grew 10.6 percent. Globus has its eyes set on improving augmented reality as it moves into 2023.
6. NuVasive (San Diego): In the third quarter of 2022, NuVasive saw a 9 percent increase in revenue, reaching $295.3 million in net sales. It also saw more cervical spine portfolio sales than any other quarter in history. NuVasive's technology was also used in ASCs for the first time this year. NuVasive also saw some major launches this year, with its new minimally invasive spine system and cervical fusion fixation system.
7. SeaSpine (Carlsbad, Calif.): SeaSpine saw $67.1 million in revenue in the third quarter of 2022. Additionally, it struck a major merger with spine and orthopedics company Orthofix. SeaSpine also saw several new product launches this year, including a new pedicle screw fixation solution, a percutaneous spine and a TLIF interbody system.
8. Alphatec (Carlsbad, Calif.): Alphatec saw several revenue and sales increases in 2022. In the second quarter of the year, its revenue grew by 35 percent year over year, reaching $84 million. In the third quarter, it saw another 43 percent revenue jump, reaching $90 million. It is currently on track to hit $340 million in revenue for fiscal year 2022.
9. Augmedics (Chicago): Augmedics saw several shake ups in its leadership in 2022. In January, it named Kevin Hykes as its new president and CEO. In March, it tapped former DePuy president Nadav Tomer for its board of directors. However, Augmedics' founder and former CEO, Nissan Elimelech, had a rocky departure in September, citing "disagreements with the new management and board." In November, the company was in the spotlight again, inking a Federal Supply Schedule contract.
10. Surgalign Holdings (Deerfield, Ill.): Surgalign Holdings saw several revenue dips in 2022. Its second quarter revenue dipped 4.2 percent to $20.6 million. Additionally, it reported an operating loss of $13.4 million. Its fourth quarter revenue also decreased by 16.8 percent year over year. In July, it struck up a partnership with PRIA Healthcare to bring more Surgalign spine devices to providers.
11. Bioventus (Durham, N.C.): Bioventus acquired Isaraeli device maker CartiHeal for $450 million in the first half of 2022. In the same month, it sold $415 million of senior notes in a private offering.
12. SI-Bone (Santa Clara, Calif.): SI-Bone had a strong showing in the first quarter of the year, seeing a 10 percent increase in sales year over year. It posted $22.4 million in sales.
13. Spinal Stabilization Technologies (Westminster, Colo.): In the fourth quarter of the year, Spinal Stabilization Technologies began clinical trials for its new nucleus replacement device, the PerQdisc.
14. Camber Spine (King of Prussia, Pa.): Camber Spine scored its 47th patent in 2022. The patent is for its Variant Retractor for spine surgeries. It also made plans to expand its Spira and Enza product lines.
15. Kleiner Device Labs (Incline Village, Nev.): Kleiner Device Labs debuted its new KG 2 Surge flow-through interbody system in 2022. Anders Cohen, DO, performed the first case with the device. Kleiner also received its 23rd patent in 2022. It made plans to break into the spinal fusion market, which is currently valued at $14 billion.
16. Accelus (Palm Beach Gardens, Fla.): Accelus surpassed several device landmarks in 2022. Its flagship spine device, the FlareHawk, has now been implanted in over 11,000 U.S. patients. Its newer device, the TiHawk11 Interbody Fusion System, topped 150 implants. Its FlareHawk device was also cleared for use in four different countries in 2022.
17. Spineology (St. Paul, Minn.): In August, Spineology named a new CFO, Jamison Young, to its growing team. The device maker also launched its OptiLIF Endo system for minimally invasive spinal fusion procedures.
18. Aesculap (Center Valley, Pa.): Aesculap has not released any updates since March 2022, when it launched a new sterile container system.
19. Barricaid (Woburn, Mass.): Barricaid has not announced many new endeavors in 2022. In September, it launched a new medical device to help patients with herniated discs.
21. Xtant Medical (Belgrade, Mont.): This year, Xtant received a $9.75 million investment from biotech executive Stavros Vizirgianakis. It also named its former controller, Scott Neils, as its new CFO.
22. BoneFoam (Plymouth, Minn.): BoneFoam has not released any updates in 2022.
23. Mizuho OSI (Union City, Calif.): Mizuho's ProAxis spine surgery table was named an orthopedic technology product to watch in 2022 by Becker's. The table can work hand in hand with 3D imaging technology, and it includes Tempur-Pedic technology for patient comfort.