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: https://ossifixtech.com/
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.
For more information, visit: www.uatgroup.com
Investor and Media Contact: info@uatgroup.com
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This news release may include "forward-looking statements" including forecasts, estimates, expectations, and objectives for future operations including but not limited to its ability to conclude a business combination with a third party, sale of assets, return of capital or initial public offering and a secondary listing on the OTC as a result of aforementioned and its ability to fund the exploration of its assets through the raising of equity or debt capital or through funding by a joint venture partner that are subject to a number of assumptions, risks, and uncertainties, many of which are beyond the control of Umbra Applied Technologies Group including but not limited to capital markets and securities risks and continued development success on technology. There can be and are no actual or implied guarantees that any of the above activities will be completed or completed on terms acceptable to the Company and its shareholders or approved by any regulatory authority having jurisdiction. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Umbra Applied Technologies Group does not assume the obligation to update any forward-looking statement, except as required by applicable law.
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Umbra Applied Technologies Group, Inc.
