Tampa, FL , March 10, 2022 (GLOBE NEWSWIRE) -- Umbra Applied Technologies Group, Inc’s (OTC Pink: UATG) (UAT Group), announced today that its subsidiary, Ossifix Orthopedics has entered into full scale production of its Javelin fixation pin.
Ossifix CEO, Mark Estrada, stated: “The initial manufacturing of the first 200 units allowed us to dial in tolerances and streamline the manufacturing process. From here on out we anticipate manufacturing an average of 2000 units monthly with 12%-20% growth month over which is in line with our projections of $4.6M-$6.2M through year-end”.
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.
Manufactured in Austin, TX, Ossifix Orthopedics™ patent pending 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, bio-degradable polymer.
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, "This is a quickly expanding market. Ossifix, with its unique intellectual property, forward-looking business posture and streamlined design processes is perfectly positioned to capitalize on the timing event within this highly specialized market segment. We anticipate significant growth within this ortho-segment over the next 4-6 years and are look forward to being the supplier of choice for surgeons across the globe”
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
NEITHER THE SECURITIES EXCHANGE COMMISSION NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
Forward-Looking Information
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.
