Surgalign Announces Release of HOLO™ AI Insights for Spine Imaging
Surgalign’s HOLO AI Insights aims to enhance clinical decision making through the power of AI technology
DEERFIELD, Ill., March 13, 2023 (GLOBE NEWSWIRE) — 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)
