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DEERFIELD, Ill., March 03, 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 surgery, today announced its participation at the 2023 American Academy of Orthopaedic Surgeons (“AAOS”) Annual Meeting, which will take place March 7-11, 2023 in Las Vegas, Nevada.
Over this five-day event, industry will gather to discuss the latest evidence-based advancements that are transforming the way medical professionals care for their patients. The Company is a participating sponsor of OrthoDome, an AAOS Annual Meeting experience that offers an immersive and comfortable video theater room showcasing orthopaedic surgical techniques and devices in 4K resolution video, narrated by live experts and chaired by Ronald A. Navarro, MD, FAAOS and Lisa K. Cannada, MD, FAAOS. On Wednesday, March 8, 2023, Dr. Vacarro will moderate the Spine Panel – OrthoDome session HT01 – taking place from 8:00 a.m. – 9:30 a.m. PT. This panel will include live discussions and video demonstrations from leading spine surgeons including:
Rick Sasso, MD, is a founding member and the president of Indiana Spine Group, the first practice to utilize the Company’s HOLO Portal Surgical Guidance System following receipt of U.S. Food & Drug Administration (“FDA”) 510(k). Dr. Sasso is a board-certified orthopaedic surgeon, specializing in spine surgery. He is also a professor and chief of spine surgery at the Indiana University School of Medicine, Department of Orthopaedic Surgery. Dr. Sasso will present “AI through the Continuum of Care”, which features Surgalign’s HOLO AI and HOLO Portal technologies as applied to diagnostic imaging, intra-operative surgical guidance, and population analytics.
Terry Rich, President and CEO of Surgalign, commented, “AAOS continues to help industry advance technologies and improve patient care, and we are especially excited for this year’s event, given the focus on spine care and the best technologies that drive better patient outcomes. We can’t thank Dr. Sasso and his team enough for their support as we work to commercialize HOLO Portal and leverage our HOLO AI platform to expand the use of AI and AR in the medical field.”
With FDA clearance, HOLO Portal became the world’s first surgical guidance system to incorporate artificial intelligence (“AI”) and augmented reality (“AR”). The first procedure was performed at Indiana Spine Hospital in Carmel, Indiana and since, over 30 cases have been performed. The HOLO Portal system’s AI 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 over the patient’s actual anatomy, providing real-time 3D visualization throughout the surgical procedure, helping surgeons visualize trajectories, while guiding surgical instruments.
To learn more about Surgalign’s Digital Health and HOLO AI Technology, please visit us online at: https://surgalign.com/digital-health/.
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 50 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, Twitter and Instagram.
Forward Looking Statements
This press release contains forward-looking statements including, without limitation, statements relating the intended use of proceeds from the registered direct offering. These forward-looking statements are based on management’s current expectations, estimates and projections about our industry, our management’s beliefs and certain assumptions made by our management. 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. Factors that could cause actual results to differ materially from those forward-looking statements include: (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; and (xv) the effect and timing of changes in laws or in governmental regulations. 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.
These forward-looking statements are not guarantees of future performance and are subject to various risks and uncertainties, including market and other conditions and the risks identified in Surgalign’s most recent Annual Report on Form 10-K and other filings with the SEC. Our actual results may differ materially from the anticipated results reflected in these forward-looking statements. Copies of Surgalign’s SEC filings may be obtained without charge by visiting Surgalign’s website at www.surgalign.com or the SEC’s website at www.sec.gov. We undertake no obligation to update these forward-looking statements except as may be required by law.
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