Kyphon was a great startup that created a brand new treatment category and grew it exponentially. Look at these sales numbers that Kyphon produced before the 2007 Medtronic acquisition of $3.9B.
1996 - First funding
1998 - FDA approves balloon kyphoplasty, but not the bone cement filler.
2000 – $6M sales
2001 – $36M sales
2002 – $76M
2003 – $131M
2004 - $306M (FDA approves the bone cement filler)
2005 - $408M
2007 - acquired for $3.9B
Message: If you want a crazy high valuation, you have to generate an exponential adoption rate.
The detailed history of Kyphon from inception to exit.
Kyph...
The Orthopedics Industry 
