Baxano: The end is not nigh

Baxano logo

Spinal surgery device maker Baxano isn’t going anywhere, no matter what the blog-o-sphere says.

Privately held Baxano develops minimally invasive tools for use in spinal decompression and fusion surgeries.

Its flagship device, the iO-Flex system of flexible surgical instruments, allows for decompression of up to 4 nerve roots through a single point of access.

The San Jose, Calif.-based company is seeing 30% growth quarter over quarter and expects 2012 sales to increase by 250% over 2011, but some industry analysts are skeptical.

"If there is any truth to that number, 1 must question the intent of that forecast,"wrote the anonymous analyst at The Spine Blogger. "Was it to appease the investors? Considering that start ups like Baxano do not possess the same fire power as a Medtronic, DePuy, Nuvasive, or Globus, time is not on their side."

The Spine Blogger, which bills itself as "the people’s blog site where news, ideas, job opportunities and what’s been heard on the street can be discussed in a professional manner," garnered more than 100 comments on the Baxano report, which was entitled "Spine = Easy Money? Just Ask Baxano."

The report alleged that Baxano had let go of 20% of its workforce due to "inadequate funding and sales" and that the company was "potentially in the initially [sic] stages of a shutdown," as verified by the site’s "sources on the Street."

"That’s not true at all," Baxano marketing vice president Amie Borgstrom told MassDevice.com today. "I’m not sure where that came from."

Borgstrom confirmed that the company, which employs between 60-70 workers, had cut some jobs but said the layoffs were minimal and unrelated to any sales concerns.

"We had a small reduction in our workforce, but not a major disruption in the company," she told us. "[The layoffs] had a lot to do with looking at capital markets and the decline in med-tech venture capital. We said, ‘Let’s position ourselves to be cash-flow positive.’"

The cuts were unrelated to any missed sales or performance goals, she added. They were instead related to the medical device company’s decision to move from a direct-only sales model to a hybrid direct-and-distributed model, which meant some external reps and internal support staff were let go.

Borgstrom also denied that the company was low on funding or anywhere near a shutdown.

"We have plenty of cash right now. We are raising additional funds, but we’ve got plenty," she said.

RSS From Medical Design & Outsourcing

  • New study finds microendoscope could eliminate unneeded biopsies
    In a clinical study of patients in the U.S. and China, researchers found that a low-cost, portable, battery-powered microendoscope developed by Rice University bioengineers could eventually eliminate the need for costly biopsies for many patients undergoing standard endoscopic screening for esophageal cancer. The research is available online in the journal Gastroenterology and was co-authored by […]
  • Arch Therapeutics, CÚRAM Centre to work on “smarter” medical devices
    This month marks the beginning of a new collaboration agreement between Arch Therapeutics and CÚRAM Centre for Research in Medical Devices. Initiated by Arch, this partnership aims to radically improve health outcomes for patients by combining on the development of “smart” medical devices. As part of the collaboration agreement, Arch and CÚRAM intend to deploy resources in Ireland […]
  • TKL Research welcomes Jeffrey Bagshaw as new VP
    Expanding their global perspective and markets, TKL Research is pleased to announce the hiring of Jeffrey Bagshaw as VP of Global Business Development for the Clinical Trials Division on June 2, 2015. Bagshaw will be responsible for leading strategic corporate and business development efforts internationally. TKL Research is a full-service clinical research organization serving the pharmaceutical, biotechnology, medical device and consumer healthcare […]
  • New downloading benefit for 3D and 2D CAD data
    In cooperation with CADENAS, HellermannTyton is providing the 3D and 2D CAD data of thousands of its products for free download from the company website starting June 2. HellermannTyton is one of the leading global manufacturers and suppliers of products for fastening, fixing, marking, protecting and processing cables and wires. By implementing this CADENAS service, […]
  • Lucideon releases new healthcare video
    Lucideon, the international materials technology company, has released a new video to showcase its services for the healthcare industries, including the medical devices, consumer healthcare and pharmaceutical sectors. The video focuses on what makes Lucideon different from other providers, namely their people.  Employees from Lucideon’s sites in both the UK and the U.S. talk about […]
  • Rotary drum coating technology conquers the market
    More and more customers are choosing the rotary drum technology for coating their mass-produced small plastic and rubber components. Within just a few years the sales of the Walther Trowal Rotamat coating systems have increased several fold. At the DKT/IRC 2015 the company is introducing its redesigned Rotamat R80, which compared to its predecessor model […]
  • Glebar focuses on Arthroscopic Shaver market
    A new arthroscopic shaver application, developed by Glebar Company for its advanced GT-610 CNC centerless grinder, is now delivering the most precise inner and outer tubes for use by orthopedic surgeons.The first two systems equipped with the innovative application have been sold to a major manufacturer of arthroscopic shavers.  The system will be on display […]
  • Read your ELISA plates from anywhere
    Now you can read your ELISA plate with an iOS or Android tablet or cell phone. The Enzo ELISA Plate Reader app is provided by Enzo Life Sciences as a tool to enable the use of colorimetric plate based assays in a wider variety of environmental settings. The plate reader application can provide quantitative results […]
  • A robotics startup that makes mosaics targets prescription pills
    To the average customer, it would seem strange why a mosaic manufacturing business would be doing research into organizing prescription pills. But to Ted Acworth, founder and CEO of Artaic, the businesses have striking similarities that lie in the company’s software design and robotics. “If you extract it, as we can with our computer and […]
  • Medical part designs fabricated by Acme Metal Spinning
    Medical designers needing custom conical, hemispherical and cylindrical metal components have an ideal option from Acme Metal Spinning. Using the metal spinning process, Acme seamlessly forms flat metal discs and pre-formed metal work pieces on CNC metal spinning lathes into components for medical device and equipment assemblies. Custom shaped parts range from cones, flanges, spools […]
  • MedPharmPlast Conference excites attendees
    On June 23, this year’s MedPharmPlast Europe Conference will bring together leaders and experts from the whole European medical devices and pharmaceutical packaging supply chain at the Clariant Innovation Center in Frankfurt. In three sessions, participants will get an expert update on the current most important topics concerning the medical devices and packaging industry on EU […]
  • 1200 to attend Joint Congress on Medical Imaging and Radiation Sciences
    Montreal, Quebec, will be the site of an unprecedented gathering of over 1200 medical imaging and radiation therapy specialists, at the 2015 Joint Congress on Medical Imaging and Radiation Sciences, May 28-30, 2015. They have come from all points of the globe; the United States, the United Kingdom. France, Cameroon, Guadeloupe, Trinidad and Tobago, Turkey, […]
  • KNF Neuberger adds powerful, compact OEM pumps
    KNF Neuberger, Inc. announces an extension to the line of brushless DC powered NFB boxer pumps with the addition of two compact models. The new NFB 5 and NFB 25 feature low pulsation, gentle transfer of liquids from 5 – 300 mL/min per head, and cost savings thanks to efficient design and long product life. […]
  • MSC Software’s MaterialCenter 2015 delivers material data integration
    MSC Software announced the new release of MaterialCenter 2015. MaterialCenter 2015 is a truly out-of-the-box Material Process and Data Lifecycle Management solution with direct integration into CAE applications that engineers regularly use.     CAE Material Model Support Generate CAE models for the most popular CAE solver directly from MaterialCenter. Support for individual and batch generation […]
  • Exploring a new frontier of cyber-physical systems: The human body
    The National Science Foundation (NSF) announced two, five-year, center-scale awards totaling $8.75 mil to advance the state-of-the-art in medical and cyber-physical systems (CPS). One project will develop “Cyberheart”—a platform for virtual, patient-specific human heart models and associated device therapies that can be used to improve and accelerate medical-device development and testing. The other project will […]