Tenon Medical

What Tenon Medical does

Tenon Medical, Inc. is a NASDAQ-listed (ticker: TNON) medical device company founded in 2012 and headquartered in Los Gatos, California. The company focuses exclusively on sacroiliac (SI) joint fusion, developing and commercializing minimally invasive implant systems for patients with chronic SI joint pain who have failed conservative care. Its end customers are orthopedic spine surgeons and the hospitals or ambulatory surgery centers where they perform procedures.

The company's product portfolio consists of two core platforms. The Catamaran SI Joint Fusion System is the original product, using a patented inferior-posterior surgical approach and a single titanium implant with a transfixing osteotome bridge that joins two hollow fenestrated pontoons to facilitate arthrodesis along the SI joint's longitudinal axis. In August 2025, Tenon acquired the SImmetry/SImmetry+ technology assets from SiVantage and received FDA 510(k) clearance for the next-generation SImmetry+ system, which uses 3D-printed titanium implants for lateral-access SI joint fusion. Both systems are supported by clinical evidence: the MAINSAIL study for Catamaran showed an 80% six-month success rate, 61.6% pain reduction, and 93.3% patient satisfaction, while the EvoluSIon study for SImmetry+ reported 68.7% radiographic fusion at 12 months and a 57.1% decrease in pre-operative opioid use.

Tenon generates revenue through direct hardware sales of its implant systems and surgical instruments to hospitals and surgery centers in the United States, the only country where its devices are commercially approved. Commercial operations are organized around a field sales force targeting spine surgeons and a Centers of Excellence model used for physician training and early-access rollout of new products such as SImmetry+. The company reported $3.9 million in full-year 2025 revenue (up 20% year-over-year) and $1.4 million in Q1 2026 revenue (up approximately 90% year-over-year), with Q1 2026 gross margin expanding to 68.5%. Since 2024, the company has funded its commercial expansion through a series of equity and convertible note financings totaling approximately $14 million, including a $4.3 million senior convertible note placement closed in March 2026.

Name

Tenon Medical

Legal name

Tenon Medical, Inc.

Website

https://tenonmed.com

Company type

Public

Founded year

2012

Operating status

Operating

Headcount range

11–50 employees

Short description

Tenon Medical is a NASDAQ-listed medical device company that develops and commercializes minimally invasive sacroiliac joint fusion implant systems, including the Catamaran and SImmetry+ platforms, targeting orthopedic spine surgeons and hospitals in the United States.

Ownership category

akta.pro rank

Product category

Sacroiliac (SI) Joint Fusion Implants

NAICS

Surgical Appliance and Supplies Manufacturing (339113), Surgical and Medical Instrument Manufacturing (339112)

SIC

Orthopedic, Prosthetic & Surgical Appliances & Supplies (3842), Surgical & Medical Instruments & Apparatus (3841)

akta.pro primary industry

Spine Implants & Motion Preservation (Fusion/Disc/Interspinous) (HLAHAEAC)

akta.pro secondary industry

3D-Printed & Patient-Specific Implants (Custom Ortho/Spine/Cranial) (HLAHAEAJ)

Keywords

• Sacroiliac joint fusion
• Spinal implant devices
• Orthopedic medical devices
• Minimally invasive spine surgery
• Titanium bone implants

Headquarters

HQ city

Morgan Hill

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Supply Chain, Marketing or Sales, Personnel, Operations

Revenue model

1. Medical Device Sales: Sale of Catamaran SI Joint Fusion System and SImmetry+ SI Joint Fusion System implants and surgical instruments to hospitals and spine surgery centers. Revenue generated from product sales to healthcare providers performing SI joint fusion procedures.
2. Surgical Instruments and Accessories: Sale of surgical technique manuals, Instructions for Use (IFU), and related surgical tools for implantation procedures.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels6 records

Core offering

Tenon Medical designs, develops, and commercializes FDA-cleared sacroiliac (SI) joint fusion medical devices, principally the Catamaran SI Joint Fusion System and the SImmetry+ SI Joint Fusion System. The company sells titanium implants and related surgical instruments directly to hospitals, ambulatory surgery centers, and orthopedic spine surgeons in the United States for the treatment of SI joint dysfunction and degenerative sacroiliitis.

Product overview

Tenon Medical develops and commercializes medical devices for sacroiliac joint fusion surgery. The company's product portfolio consists of two core implant systems: the Catamaran® SI Joint Fusion System (the company's primary product featuring a patented inferior-posterior approach with a single titanium implant) and the SImmetry+ SI Joint Fusion System (acquired in 2025 from SiVantage, featuring 3D-printed titanium implants for lateral access). Both systems are designed to treat sacroiliac joint dysfunction and disruption through minimally invasive surgical approaches.

Differentiator

Problem solved

Functional benefit

Brands

• Catamaran: Catamaran SI Joint Fusion System - A novel, less invasive inferior-posterior approach to SI joint fusion using a single, robust titanium implant.
• SImmetry+

Products and services

• Catamaran SI Joint Fusion System

Quantifiable outcome

• 80% success rate at 6 months (defined as ≥20mm pain reduction, no serious adverse events, no re-intervention)
• +4 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• Spine Centers of ExcellencecoreStrategic or Co-development Partner · 4 December 2025Partnership with spine centers in Florida, Arizona, Ohio, and Texas for early-access rollout and initial clinical procedures with the SImmetry+ SI Joint Fusion System. Four physicians successfully performed implant procedures.

Scale indicators18 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• SI-Bone: SI-Bone (NASDAQ: SIBN) is the market-leading MIS sacroiliac joint fusion company with its iFuse Implant System. It is the most direct competitor to Tenon's Catamaran and SImmetry+ systems, addressing the same patient population, surgeon specialty, and clinical indication.

Broad incumbents

• Globus Medical: Globus Medical (NYSE: GMED) is a major spine implant company with broad product portfolios including SI joint fusion and sacro-pelvic fixation offerings. It is a broad incumbent competing in the same spine surgery call point as Tenon.
• NuVasive: NuVasive (now part of Globus Medical) is a leading spine surgery technology company with extensive implant portfolios. It competes broadly with Tenon in spine procedures that involve sacro-pelvic pathology and addresses the same surgeon customers.
• Alphatec Holdings: Alphatec (NASDAQ: ATEC) develops and commercializes spine surgery products including approaches relevant to the sacro-pelvic region. It targets the same orthopedic spine surgeon customer base as Tenon with a much broader product portfolio.
• Orthofix Medical: Orthofix (NASDAQ: OFIX) is a spine and orthopedic device company with motion preservation, fusion, and biologics offerings. It addresses spine surgeons treating SI joint and sacro-pelvic conditions, comparable to Tenon's call point.
• Stryker: Stryker (NYSE: SYK) is a diversified medical device company with a spine division that competes in the broader spine surgery market including sacro-pelvic fixation. Tenon's CEO previously held leadership roles in Stryker's endoscopy business.
• Medtronic: Medtronic (NYSE: MDT) operates one of the world's largest spine businesses. It competes broadly in spine surgery, including adjacent sacro-pelvic indications, and was Tenon CEO's former employer during his tenure in Medtronic Spine & Biologics.

Emerging players

• Accelus: Accelus is a spine medical device company focused on expandable spinal implant technology. It targets the same spine surgeon customer base as Tenon with complementary implant systems and was Tenon CFO's most recent prior employer.
• Xtant Medical: Xtant Medical (NYSE: XTNT) is a smaller spine and orthopedic implant company with biologics and fixation products serving spine surgeons. It is comparable to Tenon as a small-cap spine-focused device company targeting similar surgical call points.
• Surgalign Holdings: Surgalign is a small-cap spine technology company focused on artificial intelligence-driven and implant solutions for spine surgery. It addresses the same spine surgeon segment as Tenon with a similar scale and growth-stage profile.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/tenonmed
• LinkedInlinkedin.com/company/tenon-medical-inc

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds12 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tenon Medical