(MENAFN- News Direct) Tampa, FL | March 17, 2023 08:00 AM Eastern Daylight Time
mcapmediawire -- Umbra Applied Technologies Group, Inc. (OTC: UATG ) (UAT Group) announced today that its subsidiary, Ossifix Orthopedics has begun expanding beyond Texas starting with southern and north-eastern part of the United States.
Over the past several weeks, the Company has onboarded five new account managers across eleven cities in Texas with expansion into the New England area currently underway. The Company has slated the second fiscal quarter of the year for expansion across four major metropolitan cities in Louisiana and across twenty-one major metropolitan cities in Florida.
Ossifix CEO, Mark Estrada, stated:“We are currently in the process of expanding operations and onboarding distribution channels in select target regions. Additionally, in Q2 we will launch two unique foot and ankle product lines.”
The Company projects more than one-hundred surgeries to be completed in Q2 alone with a 20% increase month over in growth. Results from initial surgeries have demonstrated early ambulation trend with many patients driving the next day. Results of the surgeries have dramatically increased interest in the Javelin pin which formed the basis for the Company's decision to start expansion and led to the Company to begin increasing its salesforce.
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. Manufactured of 100% allograft bone, Ossifix implants are designed 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.
Ossifixs' unique manufacturing process and 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.
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, 'The growth and interest that Ossifix has experienced is unprecedented. With the launch of their additional product suites coming later this year, Ossifix will be a disrupting force within a niche but significant market segment”.
Ossifix Orthopedics will continue to meet with hospital systems, surgical centers and orthopedic surgeons across the U.S. with international sales slated to begin later this year.
For more information about Ossifix Technologies go here:
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.
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