Ozop Surgical Corp Provides Corporate Update and Outlook for 2019
WEST PALM BEACH, FL / ACCESSWIRE / March 18, 2019 / Ozop Surgical Corp. (OTCQB: OZSC), a provider of premium surgical devices in the rapidly growing field of minimally invasive spine surgery, today released the following corporate update and outlook for 2019 from Michael Chermak, Chief Executive Officer and Chairman.
As a way of introduction; Ozop Surgical Corp invents, designs, develops, manufactures and distributes innovative endoscopic instruments, surgical implants, instrumentation, devices and related technologies, focused on spine, neurological and pain management procedures and specialties.
I began this endeavor a few years ago spurred by the convergence of several factors driving the healthcare industry. First, rising costs showing little sign of slowing down and second, demographics portend increased demand as demand rises exponentially with age. Concurrently, the average operating margin for hospitals is 2.8%1, while nearly 44% of rural hospitals are losing money2. This reality places great stress on hospitals while reimbursement schemes are increasingly placing the financial risk on provider organizations. We believe that strategies that can measurably reduce cost in the healthcare industry without sacrificing patient care or outcomes will be rewarded and, in some cases, may be critical to the financial viability of provider organizations. Concurrent to these trends, surgery is inexorably moving toward minimally invasive surgery (MIS). Witness the impact over the last 20 years in general surgery (gall bladder, appendix) cardiothoracic (stents, valve replacement and bypass procedures) and orthopedics (knees, shoulders and hips). The impact of MIS is well documented including lower cost, fewer complications, faster recovery and less pain. Spine surgery is lagging for the simple reality that most procedures call for rather large objects (interbodies) to be placed inside the human body. A large object historically called for a large opening. But what if we could place an object through a small opening, that can be enlarged after inserted? This is routinely done in millions of patients per year using medical quality balloons, whether it is for the opening arteries or the fixing of broken bones. Fortunately for us we were able to secure a compelling IP portfolio created by a brilliant neurosurgeon to repurpose existing technologies, material and procedures, to solve a significant and costly problem - spinal fusion. This update lays out or most recent past milestones, while laying out our 2019 operating objectives.
Our corporate strategy revolves around combining spinal access and interbody implantation using a less invasive approach than what is currently available to spine surgeons. The goal is to combine single use sterile packed implants with disposable approach instruments such as endoscopes, shavers, and other ancillary prep instruments. The use of disposable instrumentation which is sterile packed is becoming the standard due to the ease of use with disposable kits and concerns about resterilization, especially in the Ambulatory Surgical Center (ASC) setting. Each kit will be specific to the procedure, eliminating waste and allowing for a more efficient procedure. Performing the whole procedure through a small working channel has the potential to decrease operative time and the risk of infection while allowing for a faster return to activities of daily living. The potential cost savings are substantial and measurable.
Key events 2018
Key planned events 2019
Ongoing Balloon Lumbar Interbody Fusion (“BLIF”) Development (2019/2020)
Broad milestones for the development of our BLIF technology include:
In summary, we are happy with our accomplishments to date and realize we have a lot of work ahead of us to achieve our goals and objectives for 2019 and beyond. I thank all of our shareholders and investors for the confidence they have shown in our Company and I look forward to not only growing our shareholder base and other relationships, but to also make a significant impact on those suffering back pain as well as on the healthcare industry as a whole.
About Ozop Surgical Corp.
Ozop Surgical, Corp. ( www.ozopsurgical.com ) invents, designs, develops, manufactures and distributes innovative endoscopic instruments, surgical implants, instrumentation, devices and related technologies, focused on spine, neurological and pain management procedures and specialties. Our focus is on economically disrupting the market with clinically equivalent or superior existing and new products resulting in immediate and significant savings for providers, payors and consumers. For more information please visit www.ozopsurgical.com.
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MZ Group - MZ North America
(1) Beckers Hospital Review
(2) National Rural Health Association 2018 Rural Health Policy Institute
SOURCE: Ozop Surgical Corp.