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Surgalign Holdings, Inc. (SRGA) is a prominent medical technology company that specializes in the design, development, manufacture, and distribution of biologic, metal, and synthetic implants worldwide. Established in 1997 and headquartered in Deerfield, Illinois, Surgalign Holdings has carved out a significant niche in the fields of orthopedics, spine, sports medicine, plastic surgery, trauma, and other surgical procedures.
The company offers a range of innovative products aimed at improving surgical outcomes and promoting natural healing. Among its key offerings is the Coflex Interlaminar Stabilization Device, which is designed to treat moderate to severe lumbar spinal stenosis in conjunction with decompression. Additionally, the Simmetry Sacroiliac Joint Fusion System is known to decrease opioid use, pain, and disability. Another notable product is the Fortilink IBF System with TETRAfuse 3D technology, enhancing the integration and fusion of spinal implants.
Surgalign’s state-of-the-art implants are utilized by healthcare providers, hospitals, and various healthcare facilities through a robust distribution network. The company leverages its direct distribution force, OEM relationships, and an extensive network of independent distributors to reach its clients effectively. Surgalign's commitment to quality and innovation has positioned it as a leader in medical technology, dedicated to enhancing patient outcomes and advancing the field of surgical implants.
For more information, the latest updates, and media inquiries, please contact Glenn Wiener at gwiener@gwcco.com or +1 917 887 8434.
Surgalign Holdings, Inc. (NASDAQ: SRGA) announced on April 10, 2023, that it received a notification from Nasdaq indicating it is no longer in compliance with the $10 million minimum stockholders’ equity requirement for continued listing. The notification does not immediately affect the trading of its common stock. The company has 45 days to submit a plan for compliance, which may include transferring its listing to the NASDAQ Capital Market. If accepted, Surgalign could be granted up to 180 days to demonstrate compliance. The company plans to submit this plan by May 25, 2023.
Surgalign focuses on digital health and innovative solutions for surgical care and operates in over 40 countries.
Surgalign Holdings, Inc. (NASDAQ: SRGA) reported Q4 and full-year 2022 results, highlighting a revenue decline to $20.6 million from $21.8 million year-over-year. GAAP gross margin was -13.6%, down from 56.5% in Q4 2021 due to inventory write-downs related to restructuring. Nonetheless, total operating expenses decreased significantly to $45.3 million from $105 million a year prior. The company successfully closed a $12 million offering and sold its Coflex product line for $17 million, boosting its cash position. Surgalign aims to achieve $30-$35 million in cash savings in 2023 and believes it can maintain liquidity through Q4 2023.
Surgalign Holdings, Inc. (NASDAQ: SRGA) announced plans to release its financial results for Q4 and full year 2022 after market close on March 30, 2023. A conference call will follow at 4:30 p.m. ET, accessible via phone or webcast. The company focuses on advancing digital health in the surgical landscape, with operations in the U.S. and approximately 50 countries. Surgalign aims to deliver superior clinical outcomes and has faced various forward-looking risks including financial stability, litigation, and integration challenges from recent acquisitions. Investor relations details are provided for further inquiries.
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