Zimmer Biomet's FDA 510(k) Nod Widens Robotic Offerings

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) recently announced the receipt of 510(k) clearance of the ROSA ONE Spine System for robotically-assisted, minimally invasive and complex spine surgeries, thereby expanding the robotically assisted surgeries platform.

ROSA ONE Spine in Details

ROSA ONE Spine is a robotic and surgical navigation system that helps surgeons in performing thoracolumbar minimally invasive and complex spine procedures. It is capable of providing a seamless and flexible workflow, and features a combination of robotic guidance and navigation functionality. Furthermore, the robot introduced 'dynamic tracking' functionality.

Per the company, the multi-function robot can raise robotic platform utilization rate within the neurosurgical and orthopedic department, and reduce costs pertaining to the acquisition of technology and streamlining service, repair and education.

Market Potential

Per a report by Transparency Market Research, we can safely conclude that this latest development will help Zimmer Biomet to cash in on the opportunities in the spine surgery robots market. According to the report, the global spine surgery robots market is expected to witness a CAGR of roughly 17.5% between 2018 and 2026.

ROSA Robot Hardware Platform on a Roll

Zimmer Biomet boasts the only robot hardware platform in the said market to treat neurosurgical, spinal and knee conditions. In February 2019, it announced the receipt of FDA approval for the ROSA One Brain Application. Notably, ROSA One Brain Application is a robotic surgical navigation and positioning system for use in neurosurgical procedures.

Again in January, the company had announced the receipt of FDA 510(k) clearance for the ROSA Knee System for robotically-assisted total knee replacement surgeries. Per management, ROSA Knee boasts 3D pre-operative planning tools, and real-time, intraoperative data on soft-tissue and bone anatomy, which eventually help in enhancing flexion and restoring natural joint movement.

Price Performance

Over the past year, Zimmer Biomet has been observed to outperform its industry. The stock has gained 16.7% compared with 8.6% growth of its industry.

Zacks Rank & Key Picks

Zimmer Biomet currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader medical space are Integer Holdings Corporation (NYSE:ITGR) , Veeva Systems Inc. (NYSE:VEEV) and Hologic, Inc. (NASDAQ:HOLX) .

Integer Holdings projects an earnings growth rate of 31.2% for first-quarter 2019. It currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Veeva Systems’ long-term earnings growth rate is projected at 14.8%. The stock currently carries a Zacks Rank of 2.

Hologic’s long-term earnings growth rate is projected at 8.9%. The stock presently has a Zacks Rank #2.

Is Your Investment Advisor Fumbling Your Financial Future?

See how you can more effectively safeguard your retirement with a new Special Report, “4 Warning Signs Your Investment Advisor Might Be Sabotaging Your Financial Future.”

Click to get it free >>