LEWISVILLE, Texas–(BUSINESS WIRE)–Orthofix Medical Inc. (NASDAQ:OFIX), a global medical device company specializing in spine and orthopedics, and nView medical, a Salt Lake City-based company that develops surgical imaging and guidance systems enabled by artificial intelligence (AI), today announced a partnership and investment agreement to jointly develop and commercialize the innovative nView systems with Orthofix procedural correction solutions. cervical spine and pediatric limb deformities.
The novel nView s1™ system with insta-3D™ The technology is a US Food and Drug Administration 510(k) approved imaging system that offers the unique ability to instantly capture 3D images with ultra-low dose radiation. This approach makes 3D images available throughout surgery, enabling real-time visualization. The nView s1 doubles as a surgical guidance system with GPS-like technology that uses the true representation of anatomy in the form of maps and incorporates AI technology to increase the surgeon’s understanding of the surgery.
As part of this collaboration, Orthofix will use an nView s1 Imaging and Navigation System at its training center in Lewisville, Texas, where they will conduct joint educational programs for surgeon customers. Orthofix and nView medical will work together to obtain 510(k) clearances for Orthofix pediatric limb deformity solutions navigated with the nView s1 system. In addition, the companies will continue to develop an application of the technology for adult cervical spine procedures using Orthofix’s comprehensive portfolio of cervical solutions.
“The insta-3D imaging technology of the nView s1 system complements Orthofix’s pre-planning and post-operative software platforms. It is an innovative digital solution aimed at better streamlining surgery by reducing radiation exposure and decreasing operating room time, which is so important to pediatric surgeons and their patients,” said Orthofix President and CEO Jon Sermousek. “We also look forward to working with nView to expand the application of this technology for use in cervical spine procedures, using Orthofix Cervical Solutions.”
“We are delighted to partner with Orthofix, who have a long history of correcting pediatric limb deformities and deep expertise in adult cervical spine procedures,” said Cristian Atria, Founder and CEO of nView. medical. “As we continue the initial commercial deployment of our technology in pediatrics, we look forward to bringing our value proposition to more patients and surgeons, who are also served by Orthofix.”
Orthofix Medical Inc. is a global medical device company specializing in spine and orthopedics. The company’s mission is to provide innovative, quality-driven solutions while partnering with healthcare professionals to improve patient mobility. Headquartered in Lewisville, Texas, Orthofix’s spine and orthopedic products are distributed in more than 60 countries through the company’s sales representatives and distributors. For more information, please visit www.Orthofix.com.
About nView Medical
nView medical, based in Salt Lake City, UT, is a startup on a mission to make surgery safer, faster, and always accurate. nView develops imaging and guidance systems, bringing breakthrough AI solutions for image creation and visualization to surgery. nView medical funders include; the National Science Foundation (NSF), National Institutes of Health (NIH), State of Utah, National Consortium for Pediatric Device Innovation, HealthTech Arkansas, MedTech Innovator, Dr. Kevin Foley, Fusion Fund, and now, Orthofix Medical Inc. For more information, please visit www.nviewmed.com.
This release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, relating to our business and financial prospects, which are based on our current beliefs, assumptions, expectations, estimates, forecasts and projections. In some cases, you can identify forward-looking statements by words such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, ” estimates”, “projects”, “intends”, “predicts”, “potential” or “continues” or any other comparable terminology. These forward-looking statements are not guarantees of our future performance and involve risks, uncertainties, estimates and assumptions that are difficult to predict, including the risks described in Part I, Item 1A under the heading Risk Factors in the report. Annual Report on Form 10-K for the fiscal year ended December 31, 2020 (the “2020 Form 10-K”). Factors that could cause or contribute to such differences may include, but are not limited to, risks related to: the ability of Orthofix and nView medical to successfully co-develop useful and marketable products for pediatric procedures and cervical; the ability of nView medical to grow and fund its ongoing operations such that Orthofix’s investment in nView medical will maintain or increase its economic value; and continued adoption by the surgical market of both parties’ individual and collaborative products. Due to these various risks, our actual results and results may differ materially from those expressed in these forward-looking statements.
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