Smith+Nephew SNN recently introduced the FAST-FLIX FLEX Meniscal Repair System, which is the only device to provide a surgeon-guided, bendable needle and shaft allowing access to all zones of the meniscus. The newly launched device is commercially available for sale in the United States and select countries globally.
Smith+Nephew’s new FAST-FIX FLEX system utilizes an all-inside approach, supported by the 15-year clinical legacy of its FAST-FIX platform. This might help to end the need for further incisions, lower the risk of neurovascular injury and offer procedural efficiency to back faster operating times.
FAST-FIX FLEX has one of the smallest needles in the all-inside device category and smooth, low-profile anchors that helps in a 25% reduction in needle insertion area along with a repair that is above 20% stronger than the prior generation FAST-FIX 360 system.
This launch is likely to boost the company’s Orthopaedics segment.
More on the News
This new system provides better access to surgeons, which might result in a greater opportunity to repair the meniscus instead of removing it, thereby leading to long-term benefits for the patient.
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Meniscal tears remain one of the most common orthopaedic injuries. In fact, meniscal repair aids in slowing down the progression of osteoarthritis that might expedite the return to normal knee function post injury.
Per management, the introduction of this new system marks a new milestone in meniscal repair and is an addition to the company’s All Tears, All Repairs Meniscal Repair Solutions portfolio, which will advance its goal to alter the standard of care — meniscal repair instead of meniscectomy.
Market Prospects
Per a report by Research and Markets, the global meniscus repair systems market is anticipated to witness a CAGR of 7.6%. Growing number of meniscal allograft transplant and repair procedures will drive the overall market growth. Hence, the launch of the new system is well-timed for Smith+Nephew.
Recent Developments
In June, the company unveiled its Real Intelligence suite of enabling technology solutions, which includes its next generation robotics platform — the CORI Surgical System, in Australia and New Zealand.
In May, Smith+Nephew introduced ARIA Home PT, a remote physical therapy product as part of the ARIA solutions portfolio.
Price Performance
Shares of the Zacks Rank #3 (Hold) company have gained 12.6% in a year’s time, compared with the industry’s growth of 18.4%.
Key Picks
Some better-ranked stocks from the broader medical space are Veeva Systems (NYSE:VEEV) Inc. VEEV, Envista Holdings (NYSE:NVST) Corporation NVST and Align (NASDAQ:ALGN) Technology, Inc. ALGN, each currently carrying 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 estimated at 15.8%.
Envista Holdings’ long-term earnings growth rate is estimated at 26.4%.
Align Technology’s long-term earnings growth rate is projected at 23.2%.
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Smith & Nephew SNATS, Inc. (SNN): Free Stock Analysis Report
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