Orthovita forecasts business growth in 2011

Orthovita has published its financial analysis for 2010, predicting growth in the next year based on developments over the last 12 months.

The company is expecting to build on the two percent year-on-year sales increase seen in 2010 to achieve total products sales of between $96 million (59.42 million pounds) and $102 million in 2011.

This would represent a growth of between two and nine percent compared to 2010 and is being forecast despite difficult trading conditions.

Orthovita states that it expects to benefit from moves such as the recent launch and approval of new Vitoss products in the US, fresh marketing initiatives for its Vitagel haemostasis offering and the planned release of its first cavity creation device.

Antony Koblish, president and chief executive officer of the medical device manufacturer, added that this latter initiative in particular will "allow us to access a broader range of the vertebral compression fracture market".

Last month, the company announced the launch of the Vitoss Bioactive Foam-2X Bone Graft Substitute, a new non-structural bone void filler offering.