SpineJournal.gr

WILMINGTON, N.C., Jan. 7, 2010 — (HSMN NewsFeed) — TranS1 Inc. (Nasdaq:TSON ), a medical device company focused on designing, developing and marketing products that implement its proprietary minimally invasive surgical approach to treat degenerative disc disease and instability affecting the lower lumbar region of the spine, is pleased to announce the appointment of Ken Reali as President and Chief Operating Officer. (more…)

BY LAUREN UZDIENSKI, JULY 13, 2009

Trans1 pre-announced 2Q:09 sales in the range of $7.9 to $8.0 million, below guidance of $8.7 to $9.0 million and missing analyst projections of $8.8 million. 2Q is also down sequentially from 1Q:09’s $8.7 million. Second quarter sales increased 33% over 2Q:08.

President and CEO Rick Randall attributed the “confusion in the marketplace” about AxiaLIF reimbursement. In their 1Q:09 conference call, the company alluded to a coding change that took effect in January 2009, when the AxiaLIF procedure was given a category III code by the AMA. Category III codes are used for tracking new technology. The change will reduce AxiaLIF’s reimbursements by up to a third.

It should be noted that these reimbursement changes are specific to Trans1 and do not pertain to other ALIF procedures. Trans1 says they are addressing these coding issues with increased education and support resources for surgeons.

Trans1 reported 1Q:09 revenues of $8.7 million, representing an increase of 45% over 1Q:08 and beating estimates by $1.1 million. There were 889 Trans1 procedures performed during the quarter. Net loss widened in 1Q:09 to $5.2 million from $2.4 million on account of higher operating expenses. Adjusted non-GAAP earnings were $0.22 per share, missing estimates by $0.10.

More…