DJO Invests in Next-Generation Augmented Reality Technology Primed for ASC Market Growth
March 30 2021 - 7:00AM
Business Wire
DJO, a subsidiary of Colfax Corporation (NYSE:CFX), and a
leading global provider of medical technologies to get and keep
people moving, today announced a strategic investment in Insight
Medical Systems (“Insight”), a technology company dedicated to
wearable surgical navigation in orthopaedics. Insight’s flagship
product, ARVIS® (Augmented Reality Visualization and Information
System), will combine tracking cameras with both a 3D display and
handsfree interface in an integrated eyepiece for total joint
arthroplasty. Unlike other augmented reality (AR) platforms, ARVIS
is the first system with proprietary hardware designed to assist
arthroplasty surgeons in enhancing component positioning precision
to improve joint arthroplasty outcomes.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20210330005381/en/
ARVIS Next-Generation Augmented Reality
System (Photo: Business Wire)
The Computer Assisted Surgery (CAS) Technology market is growing
at a compound annual growth rate (CAGR) of 32%1. Similarly, the
shift in the site of care from hospitals to Ambulatory Surgery
Centers (ASCs) is expanding rapidly. If half of routine total joint
cases were done in the ASC, UnitedHealth Group quantified this
shift as having the potential to help 500,000 patients avoid
overnight hospital stays and save $3B annually2. As surgeons look
to incorporate technology into their surgical workflows whether at
the hospital or ASC, the discussion often focuses on balancing the
clinical benefit of a technology with the added time and cost
associated with it. The high acquisition cost of current CAS
systems can include a capital-intensive investment as well as
per-case disposables and service contracts. These costs, along with
the large footprint of technologies like robotics, are particularly
restricting for ASCs.
“DJO® has been partnering with the orthopaedic surgeon community
to understand their technology needs across all anatomies and in
all settings in which they operate,” said Louis Vogt, President and
General Manager of DJO Surgical®. “The Insight team has developed
an impressive 3D AR technology that tracks the surgeon’s viewpoint
and delivers navigation and patient-specific information right at
the surgical site in a highly efficient and seamless workflow.
ARVIS complements DJO’s ASC 360™ solutions and adds to our full
range of implant technologies, surgical tools and digital care
solutions that uniquely span the continuum of care.”
“We’re thrilled to partner with a leading MedTech company that
has an impressive growth trajectory,” said Nick van der Walt, CEO
of Insight. “DJO and Insight have a shared vision of improving
clinical outcomes with technology in a streamlined, cost-effective
way. We will build on the current capabilities of ARVIS in knee and
hip arthroplasty and expand to other indications in
orthopaedics.”
For ease of use, the ARVIS system will be compatible with
existing surgical helmets, and a single tray of trackable
instruments eliminates the need for disposables. Insight will
leverage DJO’s sales channel to launch ARVIS in the second half of
this year. The EMPOWR™ Partial, Primary and Complex Primary Knee
and Hip implant systems will be compatible. The EMPOWR portfolio is
the culmination of research, clinical legacy and material
technologies that have resulted in hip and knee products that help
restore healthy kinematics and provide surgical efficiencies
optimized for today’s health care environment. Driven by premium,
intelligently designed single-tray instrumentation, these implant
systems have up to a 50% reduction in storage and sterilization
costs compared to similar products on the market3.
For more information about DJO’s EMPOWR brand and ASC 360
offering, visit djoglobal.com/empowr and djoglobal.com/asc360.
About DJO®
DJO, a subsidiary of Colfax Corporation (NYSE:CFX), is a leading
developer and distributor of high-quality medical devices that
provide proven solutions for musculoskeletal health, joint
reconstruction, vascular health, and pain management. The Company’s
extensive range of products and integrated technologies address the
orthopedic continuum of care from performance and mobility to
surgical intervention and post-operative rehabilitation, enabling
people around the world to regain or maintain their natural motion.
For additional information about DJO, please visit
www.DJOGlobal.com.
About Insight Medical Systems
Insight Medical Systems is a medical device company with a focus
on orthopedic surgical procedures. It is leveraging augmented
reality technology to provide a highly cost effective and
easy-to-use alternative to surgical navigation systems and robots.
Insight is currently expanding their R&D and Marketing teams to
accelerate product development and prepare for commercialization.
Prospective candidates should email resumes to
info@insightmedsys.com. For additional information about Insight,
please visit www.insightmedsys.com.
ARVIS is pending clearance by the FDA. ARVIS is a registered
trademark of Insight Medical Systems.
References
- SmartTrak Computer Assisted Surgery Revenue projections:
https://www.smarttrak.com/
-
https://www.unitedhealthgroup.com/newsroom/research-reports/posts/2020-12-10-research-ambulatory-surgery-centers-490916.html
- Based on calculation of no. of trays compared to DePuy Pinnacle
and Zimmer Biomet G7.
https://www.ajog.org/article/S0002-9378(16)30358-1/pdf for cost of
sterilization
https://www.corailpinnacle.net/sites/default/files/2018-10/DSEMJRC05181044%20PINNACLE%20Surgical%20Technique.pdf
https://www.zimmerbiomet.com/content/dam/zimmer-biomet/medical-professionals/000-surgical-techniques/hip/2336.2-GLBL-en_G7%20Surgical%20Technique.pdf
Based on calculation of no. of trays compared to Oxford Uni Knee.
https://www.zimmerbiomet.com/content/dam/zimmer-biomet/medical-professionals/000-surgical-techniques/knee/oxford-partial-knee-microplasty-instrumentation-surgical-technique.pdf
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210330005381/en/
DJO Contact: Ashley Brown ashley.brown@djoglobal.com
Insight Contact: Nick van der Walt
nvanderwalt@insightmedsys.com
Colfax (NYSE:CFX)
Historical Stock Chart
From Mar 2024 to Apr 2024
Colfax (NYSE:CFX)
Historical Stock Chart
From Apr 2023 to Apr 2024