AUSTIN, Texas--(BUSINESS WIRE)--LDR, a privately held spine medical device company offering solutions for both fusion and non-fusion applications, announces 77% growth in U.S. sales and 45% growth in overall global sales for 2010 over prior year. LDR attributes its continued record growth to strong demand for its VerteBRIDGE Plating Technology, global presence and pipeline of innovative products including the Mobi-C® Cervical Artificial Disc.
Christophe Lavigne, President and CEO of LDR, notes, “We are very pleased to have achieved dramatic U.S. growth in a year that overall was very challenging for our industry. Pricing pressures, procedure denials, delayed surgeries and the overall constraints of a down economy all contributed negative pressure in 2010. It is also quite encouraging that we experienced significant growth in key markets outside of the U.S. including Europe, Asia and South America.”
Mr. Lavigne continues, “We are also happy to announce that LDR has secured an increase in credit facilities from Comerica Bank and Escalate Capital that together will provide up to $13.0 million in additional financing. The capital will be available to support our continued growth in 2011 and the ongoing work with the Mobi-C Artificial Cervical Disc single and two-level Pre Market Applications.” Paul Gerling of Comerica commented, “Comerica's Technology and Life Science team has the expertise to respond quickly and creatively to clients who are ready to expand their product lines. We take pride in supporting companies that are creating jobs and bringing innovative solutions to the rest of the world.” Mr. Lavigne further commented, “Escalate has been a great partner since 2007. Their increased support is centered on our strong and consistent performance, and prospects for continued above-market growth.”
LDR has major offices in Europe, North America, South America, and Asia, and has supported over 100,000 surgeries with its products worldwide. LDR works closely with surgeons to develop innovative spine products to improve patient care while making the goals of spine surgery more easily achieved. More information is located at www.ldrholding.com.
Caution: Mobi-C is not available for sale in the United States.
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