SmartTRAK experts across orthopedics, sports medicine, spine and enabling technology attended this year’s 2024 Canaccord Genuity Musculoskeletal and American Academy of Orthopedic Surgeons (AAOS) annual conferences. Held from February 12-15 in San Francisco, CA, these gatherings brought together the top minds in the industry. In this post, we share some key insights and updates gleaned from these conferences, offering a glimpse into the latest trends and innovations shaping the future of orthopedic and musculoskeletal care.
- MARKET
Maxx Orthopedics*
SmartTRAK learned at AAOS 2024 that Maxx Medical is going on the offensive to grow its joint replacement business in the US and that the Company plans to launch new hip and knee products in 2024.
Paragon 28*
At AAOS 2024, Paragon 28 noted that its supply chain issues have resolved and does not expect a headwind this year. As a result, Needham believes the company can return to ~20% revenue growth in 2024.
restor3d*
Restor3d reported it currently has 157 active distribution partners calling on ~22,965 orthopedic surgeons and ~18,000 podiatrists. Management noted surgeons will bring difficult cases and from there restor3d can create additional sales opportunities. CG 2024 Musculoskeletal Conference
- REVENUES
BONESUPPORT*
BONESUPPORT highlighted the continued strength of Cerament G in North America with approximate revenues of $17.0MM in Q323 since launching in June 2023. CG 2024 Musculoskeletal Conference
OrthAlign*
At AAOS 2024, SmartTRAK learned that OrthAlign’s 2023 revenue was up +25% to $51MM, led by strong adoption of its Lantern next-generation handheld navigation system and increasing use of the Balance gap balancing feature on Lantern Knee. The company noted +37% growth in the ASC setting.
Shoulder Innovations*
Shoulder Innovations presented at Canaccord 2024 that the Company has experienced a 2020-2023A revenue CAGR of 98.9%, led by the introduction and mkt adoption of RSA, Stemless and Long stem shoulder products. CG 2024 Musculoskeletal Conference
Spinal Elements*
Spinal Elements highlighted FY23 Revenues of $96MM, +10% YoY, driven by key organizational changes and sales/marketing execution. The company is driving towards positive EBITDA by FY26. Karma and TLIF MIS products will be key future revenue growth drivers. CG 2024 Musculoskeletal Conference
- NEW PRODUCTS
Anika*
Anika highlighted recently launched products from its Regenerative Solutions, Sports Medicine and Arthrosurface Joint Solutions businesses during the 2024 AAOS Annual Meeting, including the recently launched Integrity Implant System for rotator cuff repair.
Lazurite*
In conversations with Lazurite at AAOS 2024, SmartTRAK learned Lazurite had hit another milestone with the completion of its first ENT procedure with the ArthroFree Camera system, noting the surgeon was pleased with the color, image quality and ease of use of the system.The company is also close to the release of its own line of scopes to accompany its ArthroFree Wireless Camera System.
Shoulder Innovations*
According to Shoulder Innovations’ presentation at Canaccord 2024, the company is working on a phase 2 stemless convertible platform not yet cleared in the US. SI estimates reverse shoulder procedures represent 65% of the market. CG 2024 Musculoskeletal Conference
Zimmer Biomet*
At the 2024 AAOS annual meeting, Zimmer Biomet (ZBH) displayed its forthcoming ROSA shoulder replacement application as well as demonstrating ROSA Knee and ROSA Hip. With FDA 510(k) clearance announced Feb 22, 2024, ZBH is expected to be the first company on the market with a robot for shoulder replacement.
- DEALS/FINANCING
Exactech*
At AAOS 2024, SmartTRAK learned that Exactech entered into an exclusive partnership with Statera Medical to design a smart reverse shoulder implant. The new technology provides real-time data and adjustment capability to aid in precise implant size and offset selection.
Sail Fusion*
At the CG 2024 Musculoskeletal Conference, Sail Fusion announced they are seeking Series A funding of $3MM to fund training and inventory needs for commercialization of the Bow Tie SI Fusion System, pending FDA clearance. Clearance is expected within weeks.
Spinal Simplicity*
Todd Mosley, CEO of Spinal Simplicity, noted the company is seeking $25MM to continue scaling US sales and distribution, clinical data and education and R&D pipeline. CG 2024 Musculoskeletal Conference
- CLINICAL/REGULATORY
Caira Surgical*
Caira Surgical management said the company expects to file its open-platform, radar-based navigation system for TKA for FDA clearance at the end of 2024 with a limited clinical release shortly after. CG 2024 Musculoskeletal Conference
Enovis*
Enovis (ENOV) is excited about the recent FDA approval for using Lima augments with EMPOWR revision knees, which broadens their revision TKA options. At AAOS 2024, Enovis noted its revision instrument sets, approximately half the size of competitors, facilitate rTKA in the outpatient setting.
Monogram*
Monogram (MGRM) has submitted its 4th resubmission to the FDA discussing plans for a clinical trial of its robot with MAKO as a predicate. The company anticipates approval near the end of 2024 or early 2025 in a best-case scenario with a US launch to follow. 2024 CG Musculoskeletal Conference
Spinal Simplicity*
Spinal Simplicity noted that they submitted their intradiscal injection therapy, acquired from Intralink, to the FDA in Jan 2024 and expect to hear back in 60 days. CG 2024 Musculoskeletal Conference
- AMBULATORY SURGERY CENTERS (ASCS)
Alphatec*
ATEC management described its Valence robotic system as being attractive to ASCs due to its small footprint, emphasizing that its integrated system of neuromonitoring, navigation and robotics can drive predictable spine surgery outcomes. 2024 CG Musculoskeletal Conference
AETOS Shoulder System* - Smith+Nephew*
SmartTRAK expects Smith+Nephew’s AETOS Shoulder, launched at AAOS 2024, to align with their push to capture sports surgeons, recon surgeons and shoulder specialists. The shoulder, which is convertible for anatomic or reverse TSA, has a reduced 3-tray instrument set attractive to ASCs.
TrackX*
TrackX management discussed how it is attractive to ASCs due to its small footprint, ease of use and cost-effectiveness. The company is also examining expanding its navigation technology for use in other applications, such as trauma and hip fracture. CG 2024 Musculoskeletal Conference
Zimmer Biomet*
At AAOS 2024, Zimmer Biomet (ZBH) showcased its ASC Solutions as company management expects 40-60% of joint replacements to transition to the ASC setting within the next 4-5 years. ZBH noted the top two reasons for losing deals in ASCs are surgeon implant preference and economics.
- STUDIES
Cemented TKA Outperforms Cementless
A retro cohort study including nearly 1.9MM TKAs found that cemented TKA patients experienced better outcomes with fewer complications compared to cementless, suggesting cemented TKA should be the preferred option. AAOS 2024 Paper 81
Implant Factors Associated w/ Reverse Shoulder Dislocation
A multicenter retro analysis including 6,621 patients with mean f/up of 19.2 mos found surgical factors predictive of dislocation following reverse shoulder replacement were spacer presence, constrained poly liner and lack of subscapularis repair. AAOS 2024 Poster 447
AAOS 2024 Annual Meeting
At AAOS 2024, a study paper suggested that at short-term f/up, PRP inj for treatment of meniscus tears led to radiologic improvement in 50.9% of patients, with significant pain improvements, Lysholm, KOOS scores and high satisfaction, but noted limitations due to sample size. AAOS 2024 P004
Cost Benefit Analysis of BMP-2 in Adult Spinal Deformity
This study of 387 adult spine deformity (ASD) patients shows BMP-2 has equivocal cost-utility within those of moderate and high risk for developing pseudarthrosis within two years following ASD correction and provides a predictive score to assess risk and justify BMP-2 use. AAOS 2024 P195
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