After reaching a critical milestone for its recently released platform, Surgalign Holdings Inc. (NASD: SRGA) shares were up 12.50% at $1.53 as of the most recent check in active trading.
Which accomplishment has SRGA made?
The Cortera Spinal Fixation System, a recently released posterior fixation platform, reached a significant milestone last week, according to Surgalign (SRGA). In August 2022, Surgalign gained FDA 510(k) approval, and soon after, Cortera was released in a restricted market. With the execution of the 100th case with this flagship model pedicle screw system, SRGA has effectively entered target markets in a little more than three months.
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In order to accurately represent the user preferences and requirements of the larger market, SRGA sought to gather clinical and design input on the system during its initial market release from a diverse group of spine surgeons. In order to increase its market share in the US posterior fixation market, which is expected to reach $2.2 billion by 2023, Surgalign is now making efforts to procure new products. In the first part of that year, Surgalign plans to scale up commercialization.
The system’s initial version claims superior quality to numerous screw systems that have been available on the market for many years. Doctors have used the Cortera system to treat a variety of patients, from those who had simple degenerative pathologies to those who had complicated disfigurements and revision needs, and they have found it to be a stable and dependable surgical solution that enables them to give their patients the best care possible.
The Cortera system’s basic component is a 5.5/6.0mm rod pedicle screw solution with both open and MIS modules, which was developed with input from some of the world’s most skilled and educated surgeons and engineers. The system has a freshly created locking mechanism and a functional screw design that keeps a relatively modest profile. In addition to aiming to combine Cortera with its HOLO Portal surgical guiding system, SRGA plans to create more devices and tools to add to the Cortera System over the course of the next three to four years.
What does this achievement represent for SRGA?
The company Surgalign (SRGAfirst )’s organically generated product, Cortera, shows significant promise for both the business and its clients. The market response has been quite positive thus far, and SRGA will continue to push system innovation as it enters the next stage of its commercial release in 2023.
