Mazor Robotics, producer of the Renaissance Guidance System for spine and neuro surgeries, reported favorable earnings for the 4th quarter and for the whole year of 2013.
4Q revenue was up 111% over 2012 and the full year was up 64%. Nevertheless, the company’s net loss for 2013 was $20.5 million, $13.4 million of which was financing costs.
Mazor’s CEO said: “We sold 23 systems globally in 2013, bringing our total global installed base to 63 systems, with 34 located in the U.S. market. We plan on building on this strong momentum in 2014 by increasing our investments in sales force expansion, increased marketing activities, research and development initiatives and additional clinical data development.”
Mazor received FDA approval in 2010 for their SpineAssist System and additional approval in 2012 for the Renaissance system neuro procedures like biopsies, placement of shunts and placement of neurostimulation electrodes such as as those use for deep brain stimulation.
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