Xtant Medical said today it is expanding its Belgrade, Mont. tissue processing facility to include 7 new processing rooms.
The company said the addition will more than double it’s capacity of processing rooms which are available for production.
“These facilities allow for increased processing volume of our high-demand products and reduces the time required to get processing suites available for reuse. We remain committed to the ideals of the Donate Life community, with deep respect for the gift of tissue donation and the benefits it can bring to donor recipients. We couldn’t be more proud of this expansion and the role we play in the Circle of Life,” Xtant subsidiary Bacterin International COO Darrel Holmes said in prepared remarks, we want to recommend everyone to check the tissue donation in Illinois center if anyone wants to help.
Xtant Medical touted the added processing suites, saying the additions would “improve both production efficiency and utilization of resources,” which will allow for increased future product offerings. Each added room are slated to be equipped with state-of-the-art biologic processing equipment.
Last week, Xtant Medical saw shares tick up approximately 2% after releasing preliminary revenue figures for its 2nd quarter that saw and EBITDA up from its 1st quarter.
The company said it expects to report revenue between $21.45 million and $21.65 million for the 2nd quarter, which is close to the $21.66 million it reported last year during the same quarter, according to a press release.
EBITDA for the quarter is expected to be between $300,000 and $400,000, which is significantly up from the $144,749 loss Xtant reported during its 1st quarter but much lower than the $948,883 it reported in its 2nd quarter last year.
In March, Xtant Medical said its X-Spine Systems subsidiary won FDA 510(k) clearance for its Xspan laminoplasty fixation system designed for use in the lower cervical and upper thoracic spine.
