Surgalign Announces Release of HOLO™ AI Insights for Spine Imaging
13 Mars 2023 - 1:30PM
Surgalign Holdings, Inc., (NASDAQ: SRGA) a global medical
technology company focused on elevating the standard of care by
driving the evolution of digital health, is proud to announce the
release of HOLO AI Insights.
HOLO AI Insights enables customers, partners, and
clinical researchers to take advantage of the Company’s HOLO
artificial intelligence (AI) portfolio through a secure, highly
scalable cloud platform for automated analysis of medical images.
HOLO AI, Surgalign’s portfolio of AI technology, utilizes
convolutional neural network technology to automate various tasks
such as segmenting medical images, measuring anatomic structures,
and planning pedicle screw placement.
As part of Surgalign’s HOLO AI portfolio, HOLO AI
Insights analyzes standard protocol lumbar spine MRI images,
providing quantitative measurements of 16 different anatomic
structures in the spine. Currently, this image processing is being
utilized for retrospective data analysis of patient specific
medical information from participating sites. The insights
generated have the potential for multiple applications in
population health, clinical research, and in the future, patient
care.
Surgalign has partnered with neuro and orthopedic
spine surgeons Hani Malone MD, Greg Mundis MD and Robert Eastlack
MD of the San Diego Spine Foundation for the first research
deployment of HOLO AI Insights. “More than 90% of patient-generated
health data is in the form of unstructured medical imaging data.1
Transforming this unstructured data into structured datasets of
biomarkers, and combining them with patient data such as
demographics, comorbidities, clinical data, and patient reported
outcome scores, has significant potential to provide new clinical
insights,” said Dr. Malone. “I believe that these AI-driven
insights can radically augment clinical decision making and
ultimately improve patient care.”
“We are very excited to partner with doctors
Malone, Mundis and Eastlack in evaluating the potential of HOLO AI.
There’s no question that AI is transforming healthcare, and it is
Surgalign’s mission to leverage its AI technology to help improve
the lives of patients suffering from degenerative or congenital
spinal pathologies. The partnership with the San Diego Spine
Foundation is a huge leap forward in progressing on that mission,”
said Terry Rich, President and Chief Executive Officer of
Surgalign.
HOLO AI also powers Surgalign’s HOLO Portal™
surgical guidance system, by automatically segmenting
intra-operative 3D images and proposing a plan for surgery. The
HOLO Portal system received FDA 510(k) clearance in January of
2022. The addition of HOLO AI Insights is a further step in
Surgalign’s mission to transform patient care with artificial
intelligence.
HOLO AI Insights is not a medical device and is
not intended to be used for patient treatment.
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 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
Email: gwiener@gwcco.com Phone: +1 917 887 8434
1. EMC Digital Universe & IDC: The
Digital Universe Driving Data Growth in Health Care Challenges and
Opportunities for IT (2014)
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