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Orthofix Medical Inc. OFIX recently announced the U.S. and European full market launch of OSCAR PRO Ultrasonic Arthroplasty Revision System. This system facilitates the removal of bone cement commonly used in joint replacement surgeries.
This latest development is expected to be significant in terms of the company’s strategy of global expansion of the spine and orthopedics business.
Few Words on OSCAR PRO
The product is a fourth generation iteration of Orthofix’s successful OSCAR product family. Its technology is based on ultrasonic vibrations, which has been successfully aiding complex joint revision procedures over the past two decades.
This next-generation product is designed to incorporate a variety of technological enhancements, including an improved user interface and new data collection capabilities.
Joint replacements often tend to fail with time, requiring surgical revision, where parts of the original prosthesis are removed and replaced with new ones.
Compared to the time-consuming mechanical procedures, the OSCAR PRO system is adept at utilizing ultrasonic vibrations to soften and remove the cement that is often used as an adhesive to attach the implant to the bone. This system is also known to be useful in assisting cement-less prosthesis removal procedures.
As per a report in Fortunebusinessinsights, the global Orthopedic Joint Replacement market is expected to see a CAGR 7.6 % by 2027. It is but evident that joint revision surgery procedures will grow subsequently.
Accordingly, the latest progress by Orthofix with its OSCAR PRO line seems to face huge customer demand in the United States and Europe.
This spine and orthopedics major’s Global Orthopedics business experienced 3% year-over-year growth in sales in the last-reported first quarter of 2021 on easing out of COVID-19 restrictions and rescheduled procedures from the weather delays in certain U.S. markets.
Among the company’s recent developments, in May 2021, Orthofix announced expansion of its pediatric offerings with the FDA’s 510(k) clearance of the OrthoNext digital platform. This is claimed to be the only software tool in the market for deformity analysis and preoperative planning for pediatric orthopedic procedures.
In April, the company gained FDA clearance and first patient implant of the FORZA Ti TLIF Spacer System. This device helps optimize Transforaminal Lumbar Interbody Fusion (TLIF) procedures.
Earlier in February, the company made the full-market launch of its FITBONE intramedullary lengthening system in both the United States and Europe.
Share Price Performance
The stock has outperformed its industry over the past year. It has grown 20.3% compared to the industry’s 14.0% growth
Zacks Rank and Key Picks
Currently, Orthofix carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Apria, Inc. APR, currently sporting a Zacks Rank #2 (Buy), has a long-term earnings growth rate of 15.80%.
Semler Scientific Inc. SMLR, which carries a Zacks Rank #2, has a long-term earnings growth rate of 25.00%.
Amedisys, Inc. AMED, which carries a Zacks Rank #2, has a long-term earnings growth rate of 12.00%.
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Amedisys, Inc. (AMED) : Free Stock Analysis Report
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