Surgalign Announces Release of HOLO™ AI Insights for Neurovascular Research
May 08 2023 - 7:30AM
Surgalign Holdings, Inc., (NASDAQ: SRGA) a global medical
technology company focused on elevating the standard of care by
driving the evolution of digital health, is proud to announce
today, the release of HOLO™ AI Insights for use in neurovascular
research.
HOLO AI Insights, initially launched in March 2023 for spine
imaging, enables customers, partners, and clinical researchers to
take advantage of the Company’s HOLO artificial intelligence (AI)
portfolio through a secure, highly scalable cloud platform for
automated analysis of medical images. HOLO AI, Surgalign’s
portfolio of AI technology, utilizes convolutional neural network
technology to automatically segment medical images, measure
anatomic structures, automate pedicle screw planning, and perform
other tasks.
With this latest release, HOLO AI Insights has evolved to now
address neurovascular research. This latest addition to the
Company’s portfolio, can analyze large sets of cranial MRI images,
automatically identify 16 different structures, and aggregate the
data for the user into configurable graphical and file formats. The
insights generated by these results are believed to have multiple
applications in population health, clinical research, and in the
future, patient care.
Surgalign has partnered with Dr. Brian Jankowitz, a fellowship
trained cerebrovascular neurosurgeon, for neurovascular research
with HOLO AI Insights. “Most of the AI work done in the
neurovascular space has focused on acute care with CT imaging and
doesn’t help with measurement. HOLO AI Insights can automate
volumetric analysis of vascular structures on MRI, which is a big
leap forward in efficiency and more applicable to longitudinal
comparisons than other tools available today,” said Dr. Jankowitz.
“I believe that ultimately this technology will both speed our
workflow and improve clinical guidelines by providing a
significantly more detailed characterization of neurovascular
structures.”
Dr. Jankowitz, MD is a neurosurgery specialist with extensive
experience in Neurocritical Care Disorders. He is affiliated with
the medical facilities Hospital of the University of Pennsylvania
and Cooper University Hospital. He previously served as an
associate professor of neurological surgery at the University of
Pittsburgh School of Medicine and served as faculty of the UPMC
Neurosurgery Department and UPMC Stroke Institute where he
specialized in both open and endovascular neurosurgery. Dr.
Jankowitz earned a bachelor of science degree from the University
of Notre Dame and received his medical degree from Temple
University School of Medicine.
“It’s an honor to partner with Dr. Jankowitz with a shared goal
of advancing technology utilized by neuroanatomy researchers,” said
Terry Rich, President and Chief Executive Officer of Surgalign.
“Collecting patient-specific medical information from multiple
sites to generate population level reports using AI technology
holds tremendous promise to improve our knowledge of the brain. We
believe processing larger volumes of data is an invaluable step to
generate reference information to help medical professionals as we
continue to look for new ways to leverage our AI portfolio.”
HOLO AI also powers Surgalign’s HOLO Portal™ surgical guidance
system and HOLO AI Insights for Spine. The addition of HOLO AI
Insights for neuroanatomy is a further step in Surgalign’s mission
to transform patient care with artificial intelligence.
HOLO AI Insights is not intended to be used for patient
treatment. Learn more at https://www.holo.ai.
About Surgalign Holdings, Inc.Surgalign
Holdings, Inc. is a global medical technology company committed to
the promise of digital health to drive transformation across the
surgical landscape. Uniquely aligned and resourced to advance the
standard of care, the company is building technologies physicians
and other health providers will look to for what is truly possible
for their patients. Surgalign is focused on developing solutions
that predictably deliver superior clinical and economic outcomes.
Surgalign markets products throughout the United States and in
approximately 50 countries worldwide through an expanding network
of top independent distributors. Surgalign is headquartered in
Deerfield, IL, with commercial, innovation and design centers in
San Diego, CA, Warsaw and Poznan, Poland, and Wurmlingen, Germany.
Learn more at www.surgalign.com and connect on LinkedIn and
Twitter.
Forward Looking StatementThis press release
contains forward-looking statements based on management’s current
expectations, estimates and projections about our industry, our
management’s beliefs and certain assumptions made by our
management, and such forward-looking statements include (among
others) statements regarding anticipated future financial and
operating performance (including forecasted full-year revenue and
number of HOLO sites secured), product rationalization and expense
reduction initiatives and the results thereof, potential third
party financing and anticipated cash needs. Words such as
“anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,”
“estimates,” variations of such words and similar expressions are
intended to identify such forward-looking statements. The
forward-looking statements are not guarantees of future performance
and are based on certain assumptions including general economic
conditions, as well as those within the Company’s industry, and
numerous other factors and risks identified in the Company’s most
recent Form 10-K, 10-Q and other filings with the SEC. Our actual
results may differ materially from the anticipated results
reflected in these forward-looking statements. Important factors
that could cause actual results to differ materially from the
anticipated results reflected in these forward-looking statements
include risks and uncertainties relating to the following: (i) the
Company’s access to adequate operating cash flow, trade credit,
borrowed funds and equity capital to fund its operations and pay
its obligations as they become due, and the terms on which external
financing may be available, including the impact of adverse trends
or disruption in the global credit and equity markets; (ii) risks
relating to existing or potential litigation or regulatory actions;
(iii) the identification of control deficiencies, including
material weaknesses in internal control over financial reporting;
(iv) general worldwide economic conditions and related
uncertainties; (v) the continued impact of the COVID-19 and the
Company’s attempts at mitigation, particularly in international
markets served by the Company; (vi) the failure by the Company to
identify, develop and successfully implement its strategic
initiatives, particularly with respect to its digital surgery
strategy; (vii) the reliability of our supply chain; (viii) our
ability to meet obligations, including purchase minimums, under our
vendor and other agreements; (ix) whether or when the demand for
procedures involving our products will increase; (x) our financial
position and results, total revenue, product revenue, gross margin,
and operations; (xi) failure to realize, or unexpected costs in
seeking to realize, the expected benefits of the Holo Surgical Inc.
(“Holo Surgical”) and Inteneural Networks Inc. (“INN”)
acquisitions, including the failure of Holo Surgical’s and INN’s
products and services to be satisfactorily developed or achieve
applicable regulatory approvals or as a result of the failure to
commercialize and distribute its products; (xii) the failure to
effectively integrate Holo Surgical’s and INN’s operations with
those of the Company, including: retention of key personnel; the
effect on relationships with customers, suppliers, and other third
parties; and the diversion of management time and attention to the
integration; (xiii) the number of shares and amount of cash that
will be required in connection with any post-closing milestone
payments, including as a result of changes in the trading price of
the Company’s common stock and their effect on the amount of cash
needed by the Company to fund any post-closing milestone payments
in connection with the acquisitions; (xiv) the continuation of
recent quality issues with respect to our global supply chain; (xv)
the effect and timing of changes in laws or in governmental
regulations; and (xvi) other risks described in our public filings
with the SEC. These factors should be considered carefully, and
undue reliance should not be placed on the forward-looking
statements. Each forward-looking statement in this communication
speaks only as of the date of the particular statement. Copies of
the Company's SEC filings may be obtained by contacting the Company
or the SEC or by visiting Surgalign’s website at
http://www.surgalign.com/ or the SEC’s website at
http://www.sec.gov/. We undertake no obligation to update these
forward-looking statements except as may be required by law.
Investor and Media Relations Contact:Glenn
WienerGwiener@gwcco.com+1 917 887 8434
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