Astura Medical Reports 104% Annual Revenue Growth in 2018

Astura Medical Reports 104% Annual Revenue Growth in 2018

Authored: March 25, 2019

CARLSBAD, CA – March 22, 2019 – Astura Medical, a high-growth, innovative spine technology company, today reported an annual revenue increase of 104% for the full year ending Dec. 31, 2018.

“We’re proud of the successful performance by our team in 2018. To more than double our revenue for the third consecutive year further solidifies our position in the marketplace as one of the fastest growing companies in spine today,” said Joel Gambrell, Co-founder & CEO. “The increasing number of our surgeon, distributor, and hospital partnerships, year after year, reflects the value that our technology delivers to their patients, which is our ultimate goal.”

In addition to more than doubling revenue in 2018, the year was highlighted by a number of other achievements for Astura. The company was able obtain 510k approvals for their Olympic MIS System, Olympic Navigation Instruments, and Bridalveil OCT Navigation Instruments, as well as bringing on additional inventory and personnel to support the increased demand for the company’s technology.
“2019 is shaping up to be another banner year for our organization,” stated Mr. Gambrell. “We foresee further growth coming from our currently available procedural solutions, along with significant growth from our recently released MIS Percutaneous Screw System and additional product launches including Expandable Posterior Lumbar Interbody Cages, Cervical Corpectomy Cages, and additional Deformity Solutions in the coming months.”

Astura will be showcasing their latest technology at Booth 2304 during the American Academy of Neurological Surgeons (AANS) Annual Meeting, taking place in San Diego, April 14th-16th.