New Product Innovation Fuels Revenue Growth
DALLAS, May 26, 2022 /PRNewswire/ -- 4WEB Medical, an orthopedic device company focused on developing innovative implants with an Advanced Structural Design utilizing its proprietary Truss Implant Technology™, announced today that the company achieved record revenue in Q1 2022, largely driven by sales of the company's stand alone devices for ALIF and ACDF procedures.
"4WEB's outstanding results in Q1 reflect the market continuing to adopt new products incorporating our proprietary Truss Implant Technology™," said Geoff Bigos, Vice President of Spine Sales. "The company's spine business has now accomplished seven consecutive quarters of year over year growth with Q1 2022 being our highest revenue first quarter ever. We are confident that our team will build upon this momentum over the remainder of 2022, and further accelerate growth with some exciting new product launches expected in the second half of the year."
4WEB currently has four FDA regulatory submissions under review with plans to launch multiple novel implant systems before the end of 2022. The company's successful stand alone technology portfolio will expand with new anchor fixation offerings for both ACDF and ALIF procedures. 4WEB also plans to launch an advanced procedural solution in the sacroiliac joint space leveraging truss principles to solve known problems with current competitive offerings on the market today.
Lewis Harrison, Vice President of Research and Development added, "We are very pleased with 4WEB's business results last quarter and the trajectory over the last 18 months has been nothing short of outstanding. In addition to our sales performance, the company's robust innovation pipeline will provide significant uplift in the second half of 2022 and beyond."
About 4WEB Medical
4WEB Medical, founded in 2008 in Dallas, TX, is an orthopedic implant company. Thirty years of research in topological dimension theory led to the discovery of a novel geometry, the 4WEB, that can be used as a building block to create high-strength, lightweight web structures. The company leveraged this breakthrough to develop 4WEB Medical's proprietary truss implant platform which was the first 510(k) cleared implant manufactured with 3D printing technology.
The 4WEB Medical spine product portfolio includes the Cervical Spine Truss System™, the Stand Alone Cervical Spine Truss System™, the Anterior Spine Truss System™, the Stand Alone Anterior Spine Truss System™, the Posterior Spine Truss System™, the Lateral Spine Truss System™, and the Lumbar Spine Plating Solution.
4WEB Medical is actively developing truss implant designs for tumor, trauma, and patient-specific applications.
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SOURCE 4WEB Medical