Belgrade, Mont.-based medical device company Bacterin reported net income loss of more than $2 million during the fourth quarter of 2011, and a loss of more than $16 million in 2011.
However, the company reported a 72 percent revenue increase to $9.1 million in the fourth quarter and a 96 percent increase to $30.1 million in 2011. Over the past year, the company acquired assets of Robinson MedSurg and entered into a $31 million equity purchase agreement with Lincoln Park Capital Fund.
During the fourth quarter, the company completed a two-year study of its OsteoSponge, showing equivalence to rhBMP-2 in spinal fusion.
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During the fourth quarter, the company completed a two-year study of its OsteoSponge, showing equivalence to rhBMP-2 in spinal fusion.
More Articles on Orthopedic Devices:
10 Milestones for Spine Devices
Global Orthopedic Prosthetics to Reach $23.5B by 2017
15 of the Most Profitable Orthopedic & Spine Device Companies in 2011