NEW YORK, Sept. 16, 2020 /PRNewswire/ -- The medical devices market is anticipated to grow significantly in the near future, thanks in part to technological innovations designed to increase productivity and eliminate or reduce human error. As a result, the medical device industry is expected to enter a new phase as several advancements such as the Internet of Things (IoT), big data analytics, augmented reality devices and other technologies begin reaching maturity. As a result, the global medical device market size as a whole will grow nearly USD 120 Billion between 2017-2022, with 43% of this growth coming from the Americas region, according to a report by Technavio. Because of the high cost of new medical equipment, end-users in the healthcare industry are also focusing on adopting refurbished medical devices as cost-effective alternatives, which in turn will enable healthcare service providers to stay updated with the latest technologies at affordable prices. Endonovo Therapeutics, Inc. (OTC: ENDV), Conformis, Inc. (NASDAQ: CFMS), Sintx Technologies, Inc. (NASDAQ: SINT), Motus GI Holdings, Inc. (NASDAQ: MOTS). Zosano Pharma Corporation (NASDAQ: ZSAN)
As a result of the pandemic, there is currently a shortage of medical devices. A recent report by the FDA indicates that the agency has taken numerous actions to help ensure that patients and health care providers have timely and continued access to high-quality medical devices to respond effectively to the public health emergency. Connected medical devices represent a major sector of the market and allow for the reduction of time taken to administer care to patients with a critical need. Such technology can also monitor patients once they leave the hospital to reduce any false-positive readmissions.
Endonovo Therapeutics, Inc. (OTCQB: ENDV) announced last week, "an additional opportunity to view a live webinar presentation 'The Impact of Pulsed Electromagnetic Field (SofPulse®) on Postoperative Pain in Patients Undergoing Cardiothoracic Surgery' with Dr. Samir Awad, Professor of Surgery at Baylor College of Medicine on Thursday, September 17th at 5:00 pm Eastern Standard Time.
The results of the study demonstrate that the use of SofPulse® significantly decreased postoperative pain VAS (Visual Analog Scale) by 50%, decreased postoperative opioid requirements (morphine equivalent dose) by 70% and resulted in a significant decrease in Length of Stay (LOS) at the hospital by a median of 2 days.
The American Reporter article, published in August 2020, stated that "Coronary artery bypass graft (CABG) surgery is the most common type of open-heart surgery, and up to 500,000 CABG surgeries are performed in the US yearly with patient hospitalization averaging one week or 7 days."
The American Reporter article continued, "It is simply too hard to ignore the overall savings to hospitals if they simply added SofPulse® as a standard of care for all CABG cases yearly." "A two-day reduction in the median Length of Stay (LOS) for CABG surgeries equates to a daily savings of $5,714, and a cumulative average realized savings to hospitals of $11,428 for each surgery performed." "With 500,000 cases performed yearly in the US, the potential cost savings realized by hospitals could result in overall cost savings to in-patient and hospital care of $5,714,000,000."
Endonovo CEO Alan Collier states, "We are extremely honored to have the opportunity to support Dr. Awad in presenting these significant results utilizing the FDA Cleared SofPulse® PEMF device. The economic findings, cost savings and reduction of opioid use to hospitals and patients recovering from open heart type of surgeries from the Baylor College of Medicine study are stunning. Findings showing a significant reduction in the median Length of Stay (LOS) of 2 days for open heart type of surgeries proves that SofPulse® can provide hospitals significant savings on similar inpatient surgeries requiring postoperative pain management and opioid use."
Healthgrades.com, in August 2019 detailed, "The cost of CABG surgery varies greatly across the US with an average cost for CABG surgeries being $40,000." Collier continued, "Study results demonstrate that simply using SofPulse® for postoperative pain and edema reduction offers hospitals a cost savings, from a reduction of the length of stay by 2 days, for patients to recover from these types of surgeries. With savings of $5,714 to $11,428 to hospitals per patient when using SofPulse® for these types of surgeries, we believe findings like these makes SofPulse® a viable option for reducing length of stay on any inpatient or outpatient surgical procedure done in the US."
The investigator initiated study, authored by Dr. Samir Awad, is entitled 'The Impact of Pulsed Electromagnetic Field (SofPulse®) on Postoperative Pain in Patients Undergoing Cardiothoracic Surgery.' The presentation was accepted for oral presentation at the 44th Annual meeting of the Association of VA Surgeons in 2020. The Study was conducted on 31 patients from 1/1/2019 thru 12/31/2019 with sixteen patients using SofPulse® adjunctively for recovery and fifteen patients not using SofPulse®. Both groups of patients were well matched with no significant difference in: Age, BMI, Gender, Comorbidities, ETOH, Tobacco or history of opioid use.
The American Reporter article also noted in regard to the study, "Cost savings related to the reduction of opioid use and an overall improvement to the patient standard of care should be noted as well."
Dr. Awad will be presenting his research findings to his colleagues, the medical community and any interested parties in the general public.
'The Impact of Pulsed Electromagnetic Field (SofPulse®) on Postoperative Pain in Patients Undergoing Cardiothoracic Surgery' webinar presentation is presently scheduled for Thursday, September 17th at 5pm EST.
Please reserve your place today via email at firstname.lastname@example.org."
Conformis, Inc. (NASDAQ: CFMS) announced last month that it has completed the second of three milestones pursuant to the License Agreement and Development Agreement with Howmedica Osteonics Corp., a wholly owned subsidiary of Stryker Corporation also known as Stryker Orthopaedics, under which Conformis is developing patient-specific instrumentation ("PSI") for use in connection with Stryker's knee implant offerings. The Company will receive an additional $3.0 million from Stryker for achieving this milestone. "We are pleased to announce the achievement of the second project milestone," said Mark Augusti, President and Chief Executive Officer. "We believe that this project, as well as the long-term distribution agreement under which Conformis will manufacture and supply PSI to Stryker, will create value for our shareholders as we successfully support the increasing demand for efficient outpatient joint replacement."
Sintx Technologies, Inc. (NASDAQ: SINT) an original equipment manufacturer of silicon nitride ceramic for medical and non-medical applications, announced earlier this month new studies confirming that its material inactivates SARS-CoV-2, the causative agent of the COVID-19 pandemic, as well as the Influenza A virus that is responsible for the common cold. Previous findings had shown that SINTX's silicon nitride can inactivate SARS-CoV-2, as well as other single-strand RNA (ssRNA) viruses such as Influenza A, Feline calicivirus, and Enterovirus. Those findings were first reported in June 2020 on BioRxiv, a pre-print server for COVID-19 research ahead of peer review. Data related to the other ssRNA viruses are under peer review for publication.
Motus GI Holdings, Inc. (NASDAQ: MOTS) announced on September 14th, that the China National Intellectual Property Administration ("CNIPA") issued patent 201680002365, titled "Distal Front End for Coordination Positioning of an Endoscope with a Suction Device." The patent covers the method of mounting Motus GI's proprietary sensing technology and enhanced suction systems with the distal end of a colonoscope. This patent further protects the Company's flagship product – the Pure-Vu® System – in this key potential market. "This patent offers our Pure-Vu System long-term protections in a key market with a large number of annual colonoscopies. We believe the Chinese market could offer a significant commercial opportunity for the Pure-Vu System either through a strategic partnership or distribution agreement when we begin to expand our efforts beyond the U.S. in the future," said Tim Moran, chief executive officer of Motus GI.
Zosano Pharma Corporation (NASDAQ: ZSAN) is a clinical stage biopharmaceutical company that focuses on developing products where rapid aministration of approved molecules with established safety and efficacy profiles that may provide substantial benefit to patients, in markets where patients remain underserved by existing therapies. Zosano Pharma has an intracutaneous microneedle system, a single-entity combination product which comprises a reusable applicator and a microneedle array containing patch, for intracutaneous drug delivery allowing rapid absorption into the bloodstream. The microneedle array patch is applied to the skin using a ready to use and reusable handheld applicator. When the microneedle patch is applied, the microneedles penetrate the outermost layer of the epidermis (stratum corneum). The shallow depth of penetration limits the likelihood of stimulating sensory nerve endings and causing pain. Interstitial fluid in the skin reconstitutes the drug and makes it available for rapid absorption into the bloodstream.
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