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Orthofix (OFIX) Launches FORZA Ti PLIF Spacer System in the US
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Orthofix Medical Inc. (OFIX - Free Report) recently announced the U.S. launch and first patient implant of the FORZA Ti PLIF Spacer System. Notably, the FORZA Ti Spacer is a titanium lumbar interbody device featuring Orthofix’s unique Nanovate Technology. It is developed to enhance Posterior Lumbar Interbody Fusion (PLIF) procedures that require inserting an interbody device between the vertebrae during a spinal fusion surgery to relieve pressure on nerves and keep the vertebrae in place.
The FORZA Ti PLIF Spacer has been commercially released in the United States in a targeted manner. The system can also be ideally used with Orthofix’s flagship Trinity ELITE allograft with viable cells that provide necessary components required for new bone formation.
The FORZA Ti PLIF Spacer System expands Orthofix’s portfolio of Nanovate Technology products, including the CONSTRUX Mini Ti Spacer System, CONSTRUX Mini PTC Spacer System, Pillar SA PTC Spacer System and the FORZA PTC Spacer System.
Benefits of FORZA Ti PLIF
The FORZA Ti Spacer has been well-developed, boasting a large open graft window for packing bone-grafting materials and bulleted nose to assist with distraction along with 3D-printed titanium endplates. This commendable design can lead to maximization of bone ingrowth, which is imperative to aid the success of fusion procedures.
Industry Prospects
Per a report published in Fortune Business Insights, the global spinal fusion devices market is expected to see a CAGR of 3.6% by 2026. Factors such as growing demand for spinal fusion procedures due to surge in geriatric population and increasing spinal injuries; growing demand for spinal fusion devices like interbody devices, cervical and thoracolumbar fixation devices; recent developments in spinal fusion devices, and increased research on biologics are expected to drive market growth.
Image Source: Zacks Investment Research
Given the market prospects, the U.S. commercial release of FORZA Ti PLIF Spacer System seems well-timed.
Notable Developments
In May 2021, Orthofix announced the U.S. and European full market launch of OSCAR PRO Ultrasonic Arthroplasty Revision System. It aids the removal of bone cement during complex joint revision surgeries.
In the same month, Orthofix expanded its pediatric offerings with the FDA’s 510(k) clearance of the OrthoNext digital platform, which is the only tool in the market that can address the specific demands of advanced deformity and trauma reconstruction of the lower extremities in pediatric patients.
In April 2021, the company entered into an exclusive license agreement to commercialize the IGEA S.p.A’s bone, cartilage and soft tissue stimulation products in the United States and Canada. Per the agreement, Orthofix is entitled to pursue FDA approvals and commercialization of IGEA’s platform of orthopedic products that are not presently available in the United States.
Share Price Performance
The stock has outperformed its industry over the past year. It has grown 24% compared to the industry’s 21.5% growth.
Zacks Rank and Key Picks
Currently, Orthofix carries a Zacks Rank #3 (Hold).
IDEXX has a long-term earnings growth rate of 19.6%.
Semler Scientific has a long-term earnings growth rate of 25%.
Teleflex has a long-term earnings growth rate of 11%.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research SherazMian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
Image: Bigstock
Orthofix (OFIX) Launches FORZA Ti PLIF Spacer System in the US
Orthofix Medical Inc. (OFIX - Free Report) recently announced the U.S. launch and first patient implant of the FORZA Ti PLIF Spacer System. Notably, the FORZA Ti Spacer is a titanium lumbar interbody device featuring Orthofix’s unique Nanovate Technology. It is developed to enhance Posterior Lumbar Interbody Fusion (PLIF) procedures that require inserting an interbody device between the vertebrae during a spinal fusion surgery to relieve pressure on nerves and keep the vertebrae in place.
The FORZA Ti PLIF Spacer has been commercially released in the United States in a targeted manner. The system can also be ideally used with Orthofix’s flagship Trinity ELITE allograft with viable cells that provide necessary components required for new bone formation.
The FORZA Ti PLIF Spacer System expands Orthofix’s portfolio of Nanovate Technology products, including the CONSTRUX Mini Ti Spacer System, CONSTRUX Mini PTC Spacer System, Pillar SA PTC Spacer System and the FORZA PTC Spacer System.
Benefits of FORZA Ti PLIF
The FORZA Ti Spacer has been well-developed, boasting a large open graft window for packing bone-grafting materials and bulleted nose to assist with distraction along with 3D-printed titanium endplates. This commendable design can lead to maximization of bone ingrowth, which is imperative to aid the success of fusion procedures.
Industry Prospects
Per a report published in Fortune Business Insights, the global spinal fusion devices market is expected to see a CAGR of 3.6% by 2026. Factors such as growing demand for spinal fusion procedures due to surge in geriatric population and increasing spinal injuries; growing demand for spinal fusion devices like interbody devices, cervical and thoracolumbar fixation devices; recent developments in spinal fusion devices, and increased research on biologics are expected to drive market growth.
Image Source: Zacks Investment Research
Given the market prospects, the U.S. commercial release of FORZA Ti PLIF Spacer System seems well-timed.
Notable Developments
In May 2021, Orthofix announced the U.S. and European full market launch of OSCAR PRO Ultrasonic Arthroplasty Revision System. It aids the removal of bone cement during complex joint revision surgeries.
In the same month, Orthofix expanded its pediatric offerings with the FDA’s 510(k) clearance of the OrthoNext digital platform, which is the only tool in the market that can address the specific demands of advanced deformity and trauma reconstruction of the lower extremities in pediatric patients.
In April 2021, the company entered into an exclusive license agreement to commercialize the IGEA S.p.A’s bone, cartilage and soft tissue stimulation products in the United States and Canada. Per the agreement, Orthofix is entitled to pursue FDA approvals and commercialization of IGEA’s platform of orthopedic products that are not presently available in the United States.
Share Price Performance
The stock has outperformed its industry over the past year. It has grown 24% compared to the industry’s 21.5% growth.
Zacks Rank and Key Picks
Currently, Orthofix carries a Zacks Rank #3 (Hold).
A few better-ranked stocks from the Medical-Instruments industry include IDEXX Laboratories, Inc. (IDXX - Free Report) , Semler Scientific Inc. , and Teleflex Incorporated (TFX - Free Report) , each sporting a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
IDEXX has a long-term earnings growth rate of 19.6%.
Semler Scientific has a long-term earnings growth rate of 25%.
Teleflex has a long-term earnings growth rate of 11%.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research SherazMian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
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