Looking to disrupt existing surgical market with superior or new products
Highly experienced management team in health and medical device markets
Spinal implant market expected to beat surpass US$10.2 billion by 2022
What Ozop Surgical does:
Ozop Surgical Corp (OTCMKTS:OZSC) is a medtech group focused on supporting minimally invasive surgery (MIS) in the spine implant market to help the millions of people who suffer severe back and neck pain.
The firm develops, manufactures and sells various products, including endoscopes and expandable cages, mainly for the orthopedic and neurosurgical spine market.
In the last two decades, MIS has transformed procedures, ranging from valve replacement and bypass surgery to orthopedic work involving knees, shoulders and hips.
For patients, benefits include lower costs, fewer complications, faster recovery and less pain. For medics and health providers, there are also cost and time savings.
But spinal surgery has lagged in this space, according to Ozop, because most spine-related procedures are more invasive as they involve using relatively large objects such as screws or plates.
But Ozop's flagship technology, for which it says it has a strong patent position, uses a balloon method to insert something large through a small tube (and then inflate). For disc replacement, the process is known as Balloon Lumbar Interbody Fusion (BLIF) technology.
Once damaged material has been removed, the disc is measured, the insert is then placed and inflated and filled with bone graft material.
By way of example, watch the firm's videos HERE...
According to the company, the spinal implant market was worth over US$9 billion in 2017 and is expected to be worth in excess of US$10.2 billion by 2022. In the US, neck and low back pain cost the country more than US$87.6 billion per year.
In addition, the US market for endoscopic devices is expected to reach almost US$17 billion by 2021, up from US$13 billion in 2016. There were 794,000 spinal fusion procedures in the US in 2013. This is estimated to increase to around 1.1 million by 2020.
Other areas of interest for Ozop are neurological and pain-management procedures.
How is it doing:
Ozop has 21 patents (with more pending), six of which cover the balloon technology and seven covering expanding and ratcheting methods.
In March this year, the firm revealed its expected 2019-2020 milestones which included establishing a team of surgeons and other experts in developing its Balloon Lumbar Interbody Fusion (BLIF) technology.
It expects to complete all necessary testing for Food and Drug Administration (FDA) submission in the next two years. Upon approval, the company plans to build sets, complete a robust training regimen and begin "an alpha launch" at key centers. The company said it expected FDA approval in the second half of 2019.
The firm also wants to expand its IP portfolio, grow the shareholder base and have further talks with several potential strategic companies.
In August this year, Ozop agreed a licensing agreement with Spinal Resources Inc (SRI), which involved it selling SRI’s Swedge product, an FDA approved pedicle screw system used to grip segments of the spine connected by a transition rod.
Ozop also received access to SRI's product portfolio, which includes 3D-printed carbon fiber and polyetheretherketone technology. The company will also be able to sell its own products through SRI’s network of distributors.
In October, the firm said the agreement with Spinal Resources Inc was beating its expectations, and, significantly, was showing a path towards an operating profit.
What the boss says:
Ozop's CEO Michael Chermak said in October's statement: "Our primary objective is to achieve operational profitability at the earliest moment possible. Our path to this goal will be accomplished by a combination of maximizing current sales opportunities and reducing overhead wherever possible, and investing in inventory and product development to support our growing sales pipeline."