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Corporation
HEALTHCARE | Medical Devices & Equipment / Surgical Devices
pioneersurgical.com

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Founded Year

1992

Stage

Acquired | Acquired

Total Raised

$46.8M

Valuation

$0000 

Revenue

$0000 

About Pioneer Surgical Technology

Pioneer Surgical Technologies designs, manufactures and distributes spinal and orthopedic implants. The company is dedicated to creating medical devices that improve patient outcomes, provide ease of use and reliability for surgeons, and increases cost effectiveness.

Pioneer Surgical Technology Headquarter Location

375 River Park Circle

Marquette, Michigan, 49855,

United States

906-226-9909

Latest Pioneer Surgical Technology News

RTI Surgical Announces 2014 Third Quarter Results

Oct 30, 2014

RTI Surgical Inc. (RTI) (Nasdaq: RTIX), a global surgical implant company, reported operating results for the third quarter of 2014 as follows: Quarterly Highlights: Note: Quarter over quarter revenue growth comparisons for the spine, orthofixation, and BGS and general orthopedic businesses mentioned below include revenues from the July 16, 2013 acquisition of Pioneer Surgical Technology (Pioneer). Achieved revenues of $65.2 million, meeting the upper end of our revenue guidance of $64 to $65 million. Achieved adjusted net income per fully diluted share of $0.03, exceeding guidance of $0.02. Achieved revenues of $11.4 million in the sports medicine business, a 19 percent increase over the third quarter of 2013. Achieved revenues of $20.5 million in the spine business, a 16 percent increase over the third quarter of 2013. Achieved revenues of $9.5 million in the orthofixation business, a 41 percent increase over the third quarter of 2013. Achieved revenues of $9.2 million in the BGS and general orthopedic business, a 20 percent increase over the third quarter of 2013. Introduced two new products for the sports medicine business – the PACK™ Precision Allograft Cartilage Instrument Kit and Allowedge™ Bicortical Bone Wedges and Instrument Kit. Worldwide revenues were $65.2 million for the third quarter of 2014 compared to revenues of $54.7 million for the third quarter of 2013, an increase of 19 percent. Domestic revenues were $59.7 million for the third quarter of 2014 compared to revenues of $49.3 million for the third quarter of 2013. International revenues were $5.5 million for the third quarter of 2014 and were comparable to the third quarter of 2013. Our prior year revenues include Pioneer-related revenues for the stub period of July 16, 2013 to September 30, 2013, whereas our current year period includes a full quarter of Pioneer-related revenues. If Pioneer revenues had been included for the third quarter for both 2013 and 2014, worldwide revenues for the third quarter of 2014 would have increased by 13 percent as compared to the third quarter of 2013. “Revenues from the third quarter met our expectations. As anticipated, we saw some impact from seasonality in surgical cases, primarily in international markets, but we were able to offset that with sequential growth in the U.S.,” said Brian K. Hutchison, president and chief executive officer. “We continued to make progress in meeting the goals we shared in our first quarter earnings release – growth in our sports and spine businesses, traction in surgical specialties and expanded distribution of map3® cellular allogeneic bone graft.” For the third quarter of 2014, the company reported a net income applicable to common shares of $1.2 million and net income per fully diluted common share of $0.02, based on 57.5 million fully diluted shares outstanding, compared to net loss applicable to common shares of $9.1 million and net loss per fully diluted common share of $0.16 for the third quarter of 2013, based on 56.4 million fully diluted shares outstanding. On a non-GAAP basis, excluding a severance charge taken in the third quarter of 2014, the company reported adjusted net income applicable to common shares of $1.5 million and adjusted net income per fully diluted common share of $0.03. Fiscal 2014 and Fourth Quarter Outlook Based on results from the first three quarters of the year, the company is narrowing its full year revenue guidance for 2014. The company now expects full year revenues for 2014 to be between $260 million and $261 million, as compared to prior guidance of between $258 million and $261 million. On an adjusted basis, excluding a first quarter inventory purchase accounting adjustment and a third quarter severance charge, the company expects full year adjusted net income per fully diluted common share to be approximately $0.11 based on 57.4 million fully diluted common shares outstanding, as compared to prior guidance of $0.09 to $0.11. For the fourth quarter of 2014, the company expects revenues to be between $68 million and $69 million and net income per fully diluted common share to be approximately $0.04, based on 57.5 million fully diluted shares outstanding. “Results from the first nine months have met or exceeded our expectations and we continue to be optimistic that we can meet our goals for the year,” Hutchison said. “We are focused on delivering a strong fourth quarter and positioning our business for success in 2015.” Conference Call RTI will host a conference call and simultaneous audio webcast to discuss the third quarter results at 8:30 a.m. ET today. The conference call can be accessed by dialing (877) 383-7419. The webcast can be accessed through the investor section of RTI’s website at www.rtix.com . A replay of the conference call will be available on the RTI website following the call. About RTI Surgical Inc. RTI Surgical is a leading global surgical implant company providing surgeons with safe biologic, metal and synthetic implants. Committed to delivering a higher standard, RTI’s implants are used in sports medicine, general surgery, spine, orthopedic, trauma and cardiothoracic procedures and are distributed in nearly 50 countries. RTI is headquartered in Alachua, Fla., and has four manufacturing facilities throughout the U.S. and Europe. RTI is accredited in the U.S. by the American Association of Tissue Banks and is a member of AdvaMed. For more information, please visit www.rtix.com . Forward Looking Statement This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including those regarding our anticipated financial results for our third quarter of fiscal year 2014 and our fiscal 2014 and fourth quarter outlook. These forward-looking statements are based on management’s current expectations, estimates and projections about our industry, our management's beliefs and certain assumptions made by our management. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," variations of such words and similar expressions are intended to identify such forward-looking statements. In addition, except for historical information, any statements made in this communication about anticipated financial results, growth rates, new product introductions, future operational improvements and results or regulatory actions or approvals or changes to agreements with distributors also are forward-looking statements. These statements are not guarantees of future performance and are subject to risks and uncertainties, including the risks described in public filings with the U.S. Securities and Exchange Commission (SEC). Our actual results may differ materially from the anticipated results reflected in these forward-looking statements. Copies of the Company's SEC filings may be obtained by contacting the Company or the SEC or by visiting RTI's website at www.rtix.com or the SEC's website at www.sec.gov .  

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Expert Collections containing Pioneer Surgical Technology

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Pioneer Surgical Technology is included in 1 Expert Collection, including Medical Devices.

M

Medical Devices

3,088 items

Companies that have been granted at least 1 510(k) by the FDA since 2014. Companies tagged as #FDA510(K)

Pioneer Surgical Technology Patents

Pioneer Surgical Technology has filed 1141 patents.

The 3 most popular patent topics include:

  • Orthopedic surgical procedures
  • Bones of the vertebral column
  • Skeletal system
patents chart

Application Date

Grant Date

Title

Related Topics

Status

10/5/2015

12/14/2021

Sensors, Saskatchewan provincial highways, Aircraft instruments, Autonomous cars, Diagrams

Grant

Application Date

10/5/2015

Grant Date

12/14/2021

Title

Related Topics

Sensors, Saskatchewan provincial highways, Aircraft instruments, Autonomous cars, Diagrams

Status

Grant

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