Tampa, FL, Feb. 14, 2022 (GLOBE NEWSWIRE) -- Umbra Applied Technologies Group, Inc (OTC Pink: UATG) (UAT Group), announced today that it has begun fulfilling purchase orders and contracts for orthopedic distributors and clients nationwide.
Ossifix engineers and manufactures 100% allograft bone implants for small bone, extremities, and sports medicine markets that also has 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. No regulatory approval is required for implantable fixation engineered from allograft bone. As a result, barriers to entry into the market for Ossifix Technologies implants are minimal.
Ossifix Orthopedics™ products are manufactured from select, high-density, allograft cortical bone. Ossifixs’ unique manufacturing process and patent pending 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. Our instrumentation is constructed of an eco-friendly, biodegradable polymer.
Ossifix CEO, Mark Estrada, stated: “These initial sales are the foundation upon which we anticipate building exponential growth in sales We will begin rolling out the Jarvis bone pin immediately followed by additional products in the coming weeks.”
The Ossifix Orthopedics™ line of products will compete in one of the fastest growing, emerging markets, specifically, the resorbable implant market, in three distinct surgical segments; orthopedic, dental, and general. 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 level of thought and excellence that has gone into Ossifix products is something not commonly found in brands, but this is one that in my opinion will stand apart. We believe that its quality, precision, comprehensive layout and market segment provide it with significant competitive advantages. I believe that it will become apparent why we invested so heavily in this technology.”
U.S. based company, Ossifix Orthopedics™ products are manufactured in Austin, TX from select, high-density, allograft cortical bone. Ossifix’s unique manufacturing process and patent pending 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 containing all necessary instruments for implantation are based on decades of clinical experience in the operating room. Ossifix implants are shipped in comprehensive, sterile, single-use surgical kits designed in-house.
We expect Ossifix to post revenues within Q1 of 2022.
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: UAT Group at info@uatgroup.com
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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.
