Company to showcase its upgraded HOLO Portal™ Surgical Guidance System and key products in its hardware spine and biologics portfolio
DEERFIELD, Ill., May 23, 2023 (GLOBE NEWSWIRE) — Surgalign Holdings, Inc., (NASDAQ: SRGA) a global medical technology company focused on elevating the standard of care by driving the evolution of digital health, announced today that it will be exhibiting at ISASS 2023 – the 23rd Annual Conference – sponsored by the International Society for Spine Surgery (“ISASS”) and Medical Education Resources. This three-day event will take place June 1-3, 2023 at the Marriott Marquis in San Francisco, CA.
The International Society for the Advancement of Spine Surgery is dedicated to advancing major evolutionary steps in spine surgery. Since its inception in 2000, ISASS has worked to achieve its mission of acting as a global, scientific, and educational society organized to provide an independent venue to discuss and address the issues involved with all aspects of the basic and clinical sciences of motion preservation, stabilization, technological innovations, MIS procedures, biologics, and other fundamental topics to restore and improve motion and function of the spine. ISASS 2023 will bring together industry and medical professionals from around the world, who will collaborate over three-days to learn about innovative technologies and techniques in spine surgery, across the areas of robotics, endoscopy, ERAS, Master’s Techniques, Complications, MIS, Outpatient Surgery and more. From keynotes, sessions, workshops and exhibits, this event will feature engaging discussions about the latest advancements in medical devices for spine and new technologies that are positively shaping the spine care industry.
Surgalign will have on display at its booth (#401), its upgraded HOLO Portal™ Surgical Guidance System and several of its hardware and biologics products including the Streamline™ spinal fixation system, TETRAfuse® and TiPlus™ 3D Technologies, and FibreX™ demineralized bone fibers, among others.
The HOLO Portal system is powered by HOLO™ AI that processes intraoperative images to autonomously segment and label the anatomy and plan patient-specific pedicle screw trajectories that are approved by the surgeon. The system uses AR to overlay the segmented AI reconstruction as a real-time 3-D visualization over the patient’s actual anatomy throughout the surgical procedure. This help surgeons see implant trajectories and guide surgical instruments. In March 2023, the Company launched new advancements to its HOLO Portal system based on early clinical experiences and insights from leading spine surgeons in the U.S. This release includes over 250 software enhancements, hardware upgrades, and integration with over 20 surgical tools. These improvements were designed to better support open lumbar pedicle screw procedures by adding an array of new pedicle preparation tools and by improving workflow and setup.
About Surgalign Holdings, Inc.
Surgalign Holdings, Inc. is a global medical technology company committed to the promise of digital health to drive transformation across the surgical landscape. Uniquely aligned and resourced to advance the standard of care, the company is building technologies physicians and other health providers will look to for what is truly possible for their patients. Surgalign is focused on developing solutions that predictably deliver superior clinical and economic outcomes. Surgalign markets products throughout the United States and in approximately 40 countries worldwide through an expanding network of top independent distributors. Surgalign is headquartered in Deerfield, IL, with commercial, innovation and design centers in San Diego, CA, Warsaw and Poznan, Poland, and Wurmlingen, Germany. Learn more at www.surgalign.com and connect on LinkedIn and Twitter.
Forward Looking Statement
This press release contains forward-looking statements based on management’s current expectations, estimates and projections about our industry, our management’s beliefs and certain assumptions made by our management, and such forward-looking statements include (among others) statements regarding anticipated future financial and operating performance (including forecasted full-year revenue and number of HOLO sites secured), product rationalization and expense reduction initiatives and the results thereof, potential third party financing and anticipated cash needs. Words such as “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” variations of such words and similar expressions are intended to identify such forward-looking statements. The forward-looking statements are not guarantees of future performance and are based on certain assumptions including general economic conditions, as well as those within the Company’s industry, and numerous other factors and risks identified in the Company’s most recent Form 10-K, 10-Q and other filings with the SEC. Our actual results may differ materially from the anticipated results reflected in these forward-looking statements. Important factors that could cause actual results to differ materially from the anticipated results reflected in these forward-looking statements include risks and uncertainties relating to the following: (i) the Company’s access to adequate operating cash flow, trade credit, borrowed funds and equity capital to fund its operations and pay its obligations as they become due, and the terms on which external financing may be available, including the impact of adverse trends or disruption in the global credit and equity markets; (ii) risks relating to existing or potential litigation or regulatory actions; (iii) the identification of control deficiencies, including material weaknesses in internal control over financial reporting; (iv) general worldwide economic conditions and related uncertainties; (v) the continued impact of the COVID-19 and the Company’s attempts at mitigation, particularly in international markets served by the Company; (vi) the failure by the Company to identify, develop and successfully implement its strategic initiatives, particularly with respect to its digital surgery strategy; (vii) the reliability of our supply chain; (viii) our ability to meet obligations, including purchase minimums, under our vendor and other agreements; (ix) whether or when the demand for procedures involving our products will increase; (x) our financial position and results, total revenue, product revenue, gross margin, and operations; (xi) failure to realize, or unexpected costs in seeking to realize, the expected benefits of the Holo Surgical Inc. (“Holo Surgical”) and Inteneural Networks Inc. (“INN”) acquisitions, including the failure of Holo Surgical’s and INN’s products and services to be satisfactorily developed or achieve applicable regulatory approvals or as a result of the failure to commercialize and distribute its products; (xii) the failure to effectively integrate Holo Surgical’s and INN’s operations with those of the Company, including: retention of key personnel; the effect on relationships with customers, suppliers, and other third parties; and the diversion of management time and attention to the integration; (xiii) the number of shares and amount of cash that will be required in connection with any post-closing milestone payments, including as a result of changes in the trading price of the Company’s common stock and their effect on the amount of cash needed by the Company to fund any post-closing milestone payments in connection with the acquisitions; (xiv) the continuation of recent quality issues with respect to our global supply chain; (xv) the effect and timing of changes in laws or in governmental regulations; and (xvi) other risks described in our public filings with the SEC. These factors should be considered carefully, and undue reliance should not be placed on the forward-looking statements. Each forward-looking statement in this communication speaks only as of the date of the particular statement. Copies of the Company’s SEC filings may be obtained by contacting the Company or the SEC or by visiting Surgalign’s website at http://www.surgalign.com/ or the SEC’s website at http://www.sec.gov/. We undertake no obligation to update these forward-looking statements except as may be required by law.
Investor and Media Relations Contact:
Glenn Wiener
gwiener@gwcco.com
+1 917 887 8434
