Healthcare Equipment and Supplies
Company Overview of Baxano Surgical, Inc.
Baxano Surgical, Inc., a medical device company, designs, develops, and markets minimally invasive products to treat degenerative conditions of the spine affecting the lumbar region. It markets the AxiaLIF family of products for single and two level lower lumbar fusion; the VEO lateral access and interbody fusion system; the iO-Flex system, a proprietary set of flexible instruments used by surgeons during spinal decompression procedures; and the iO-Tome instrument, which removes bone, primarily the facet joints. The company also markets other products that complement these primary offerings, including pedicle screws, facet screws, bowel retractors, discectomy tools, bone void fillers, and a ...
110 Horizon Drive
Raleigh, NC 27615
Founded in 2000
Key Executives for Baxano Surgical, Inc.
Chief Executive Officer
Total Annual Compensation: $460.0K
Compensation as of Fiscal Year 2012.
Baxano Surgical, Inc. Key Developments
Baxano Surgical, Inc. Announces Published Clinical Results on Two Core Technologies
Dec 6 13
Baxano Surgical, Inc. announced the publication of two clinical studies focused on two of its core technologies: the AxiaLIF(R) Plus presacral access and interbody fusion system and the iO-Flex(R) minimally invasive decompression instrument. Both studies are featured in the December 1st edition of the Journal of Spinal Disorders and Techniques.
This positive clinical data on Baxano Surgical's unique technologies adds to the growing compendium of peer-reviewed publications and validates the continued efforts in expanding the clinical strategy to advance the minimally invasive spine implants and instruments.
Baxano Surgical, Inc. Obtains Credit Facility of Up to $15.0 Million from Hercules
Dec 3 13
Baxano Surgical, Inc. announced that on December 3, 2013, the company obtained a credit facility of up to $15.0 million from Hercules. The Credit Facility will mature in 38 months, or in 41 months if the specified revenue targets are achieved. The Credit Facility provides for up to three separate advances of $7.5 million, $2.5 million and $5.0 million, with the first advance available at closing and the availability of the second and third advances dependent upon the company achieving specified revenue targets for the fourth quarter of its 2013 fiscal year and the first quarter of its 2014 fiscal year, respectively, as well as an equity financing condition for the third advance. Each advance accrues interest at a rate equal to the prime rate plus 7.75% (with the prime rate subject to a floor of 4.75%), calculated on an actual/360 basis and payable monthly in arrears. The Credit Facility includes customary warrant coverage, but no financial covenants, and is secured by the Company's assets. Proceeds from the Credit Facility will be used to pay off an existing credit facility and cash collateralize letters of credit, and for general corporate and working capital purposes.
Baxano Surgical, Inc. Presents at 25th Annual Piper Jaffray Healthcare Conference 2013, Dec-04-2013
Nov 18 13
Baxano Surgical, Inc. Presents at 25th Annual Piper Jaffray Healthcare Conference 2013, Dec-04-2013 . Venue: The New York Palace Hotel, 455 Madison Avenue, New York, NY 10022, United States. Speakers: Kenneth Reali, Chief Executive Officer, President and Director, Timothy M. Shannon, Interim Chief Financial Officer and Vice President of Finance.
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