UAT Group Subsidiary, Ossifix Orthopedics Announces First Scheduled Surgeries with Proprietary Bone Pin

Rhea-AI Summary

Umbra Applied Technologies Group (UATG) announced that its subsidiary, Ossifix Orthopedics, will exclusively supply allograft bone pins to surgical centers in San Antonio and Houston, starting with the Javelin bone pin implant in mid-August. The Javelin pin, made from high-density, allograft cortical bone, offers enhanced fixation without slippage. With no regulatory approval required, Ossifix is poised for minimal market entry barriers. The company aims for global distribution, targeting a market projected to reach $4.696 billion this year, growing at 14% annually.

Positive

• Exclusive supply agreement for allograft bone pins in Texas surgical centers.
• Launch of Javelin bone pin, an industry-first product, expected to enhance surgical procedures.
• No regulatory approval needed for allograft bone implants, minimizing market entry barriers.
• The orthopedic market is experiencing an estimated 14% annual growth.

Negative

• None.

Tampa, FL, July 28, 2022 (GLOBE NEWSWIRE) -- Umbra Applied Technologies Group, Inc’s (OTC Pink: UATG) (“UAT Group”), announce today that its subsidiary, Ossifix Orthopedics has agreed to be the exclusive supplier of allograft bone pins to several surgical centers in San Antonio and Houston Texas. In just a couple of weeks, the industry first Javelin bone pin will see its first implantation in mid-august of this year. Constructed of select, high-density, allograft, cortical bone, the proprietary design of the Ossifix Orthopedics Javelin pin ensures rigid fixation without pin slip or pirouetting. Ossifix will continue to build and expand upon this initial success by expanding to additional surgical centers.

Ossifix CEO, Mark Estrada, stated: “Javelin is more than an industry first, it’s a paradigm shift in how the industry will approach osteo-fixation procedures from this point on. We are now delivering the most advanced and safest rigid fixation implants on market. Simply put, we are now driving the train with no competitors in site”.

Ossifix engineers and manufactures 100% allograft bone implants for small bone, extremities, and sports medicine markets, but have applications in the craniofacial, spine and oral surgery procedures. Resorbable implant technology is readily accepted and used in today’s market, both domestically and globally. No regulatory approval is required for implantable fixation engineered from allograft bone. As a result, barriers to entry into the market for Ossifix Technologies implants are minimal.

Ossifixs’ unique manufacturing process and patent pending designs yield an engineered cortical bone implant that provides secure fixation and virtually eliminates any allergic or autoimmune reactions associated with metal or plastic/polymer implants. All Ossifix Orthopedics™ Pin, Screw and Plate Systems are single-use surgical kits with all necessary instruments for implantation and are based on decades of clinical experience and use in the operating room.  Our instrumentation is constructed of an eco-friendly, bio-degradable polymer.

Ossifix products are designed to be used in hospitals, ambulatory surgical centers, and specialty clinics. Distribution is scheduled throughout North America, and globally in Latin America, Europe, Asia Pacific, as well as the Middle East and Africa. This global market is currently experiencing an estimated growth of 14% per year and is expected to reach $4.696 billion in sales this year.

Umbra Applied Technologies Group Chief Executive Officer, Alex Umbra, commented, " Here within the UAT Group ecosystem, adapting to the evolution of change has become a constant we embrace. While competitors have become weary or complacent, we have chosen to invest in innovation so that we can deliver the disruptive technologies and/or products that are needed across multiple market segments. The Javelin bone pin is a great example of a product that an entire industry has been waiting for yet no one delivered – until now. This is the direct result of the innovative culture we foster here. Our many companies will continue to deliver solutions to industry wide challenges across the globe. This year will prove that our leveraged approach to technology can deliver the advancements needed across verticals.”

Ossifix Orthopedics will continue to meet with hospital systems, surgical centers and orthopedic surgeons across the U.S. with international sales slated to begin in January of 2023 when it launches in Europe.

For more information about Ossifix Technologies go here: https://ossifixtech.com/

About Umbra Applied Technologies Group, Inc.

The firm is located in Tampa Florida and focuses on advanced technologies across many disciplines. UAT Group is a holding company with interests in both public and private companies during the early stages of development as well as growth stages of companies with a synergistic business model to UAT Group subsidiaries.

For more information visit www.uatgroup.com

Investor and Media Contact: info@uatgroup.com

NEITHER THE SECURITIES EXCHANGE COMMISSION NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

Forward-Looking Information

This news release may include "forward-looking statements" including forecasts, estimates, expectations, and objectives for future operations including but not limited to its ability to conclude a business combination with a third party, sale of assets, return of capital or initial public offering and a secondary listing on the OTC as a result of aforementioned and its ability to fund the exploration of its assets through the raising of equity or debt capital or through funding by a joint venture partner that are subject to a number of assumptions, risks, and uncertainties, many of which are beyond the control of Umbra Applied Technologies Group including but not limited to capital markets and securities risks and continued development success on technology. There can be and are no actual or implied guarantees that any of the above activities will be completed or completed on terms acceptable to the Company and its shareholders or approved by any regulatory authority having jurisdiction. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially. Umbra Applied Technologies Group does not assume the obligation to update any forward-looking statement, except as required by applicable law.

FAQ

What recent agreement did UATG announce?

UATG announced that its subsidiary, Ossifix Orthopedics, will exclusively supply allograft bone pins to surgical centers in Texas.

When will the Javelin bone pin be launched?

The Javelin bone pin is set to be implanted for the first time in mid-August 2022.

What is the expected market growth for Ossifix products?

The global market for Ossifix products is currently growing at an estimated rate of 14% per year.

Is regulatory approval required for Ossifix's bone implants?

No, Ossifix's allograft bone implants do not require regulatory approval, allowing easier market entry.