SMALL BONE INNOVATIONS INC. REPORTS SIGNIFICANT REVENUE GROWTH IN 2010
• 27% constant currency worldwide sales growth in 2010
• 33% sales growth in North America in 2010
• Maintains #1 position in total ankle replacement market worldwide with its STAR™ system
New York, NY: February 10, 2011 –Small Bone Innovations, Inc. (SBi), an orthopedics company focused exclusively on serving patients and their physicians with technologies and treatments for joint repair (arthroplasty) and trauma reconstruction around the small bones & joints (SB&J) of the thumb, fingers, hand, wrist, elbow, toes, foot and ankle, recorded strong worldwide revenue growth of 24% (27% constant currency) for 2010 compared with 2009.
Geographic gains were also robust. Revenues in North America grew by 33% year-on-year while revenues outside North America increased 14% in constant currency. North America represents approximately two-thirds of SBi's total revenues while international revenues represent approximately one-third of total revenues, with France as the largest market. SBi’s 2010 revenues were evenly split between the upper limb and lower limb.
Anthony G. Viscogliosi, Chairman & CEO of SBi, said: “I am very pleased to report the company’s significant revenue growth in 2010. This performance is especially noteworthy given the fact that global orthopedic device revenue growth continued to slow throughout last year as elective surgeries declined due to the soft economy.”
“Across the board, the larger orthopedic companies have reported higher growth in SB&J or ‘extremities’ product lines compared to their hip, knee and spine businesses, revealing an upward trend in SB&J procedures that positions SBi well for future revenue growth. Our revenue growth rate is already significantly higher than the orthopedic market as a whole, attributable principally to our upper and lower limb arthroplasty product systems,” Mr. Viscogliosi added.
“We have maintained SBi’s #1 position in the total ankle joint replacement market as the STAR™ total ankle continues to record strong growth in both the U.S. and international markets, complemented by a stable core business. December was the best sales month ever for the STAR ankle in North America,” Mr. Viscogliosi noted.
About Small Bone Innovations, Inc.
Small Bone Innovations, Inc. (SBi) was founded in 2004 by Viscogliosi Brothers, LLC (VB), a New York-based merchant banking firm that specializes in the musculoskeletal/orthopedics sector. VB created SBi as the first company to focus purely on small bones & joints. By integrating established companies and professionals in the field, SBi offers a broad, clinically proven portfolio of products and technologies to treat trauma and diseases in small bones & joints. Today, SBi has facilities in New York, NY, Morrisville, PA, Bourg-en-Bresse, France, Donaueschingen, Germany, and Kuala Lumpur, Malaysia and has sold its products in 46 countries.
This news release contains forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of risks and uncertainties impacting SBi's business including increased competition; the ability of SBi to expand its operations and to attract and retain qualified professionals; technological obsolescence; general economic conditions; and other risks.