Tampa, FL, July 19, 2022 (GLOBE NEWSWIRE) -- Umbra Applied Technologies Group, Inc. (OTC Pink: UATG) (“UAT Group”) announced today that its subsidiary Ossifix Orthopedics has added a new product to its expanding suite of orthopedic products. Launching in August, the company projects this new product to add to its bottom line with year over increases to exceed as much as 20%. The demineralized bone matrix market is projected to reach $838.9 million USD by 2028, with 4.3% CAGR.
Demineralized Bone Matrix (DBM) is often referred to as “crunch” and is made from 100% human bone tissue. Ossifix Orthopedics DBM/Crunch contains no carrier or filler additives and is engineered to be resistant to washing away or migrating from surgical site.
Ossifix CEO, Mark Estrada, stated: “Our newly launched crunch contains cancellous bone fragments within the crunch to provide the osteoconductive scaffolding to promote new bone growth. Health care practitioners can choose to add fresh marrow aspirate or allograft from the patient to promote further osteogenesis. We anticipate manufacturing to trail our newly launched Javelin cortical allograft bone pin with 12%-20% growth month over which is in line with our estimation of 1,922 cases this year. This equates to about $1.1M in additional or collateral sales over the next five months”.
Ossifix engineers and manufactures 100% allograft bone implants for small bone, extremities, and sports medicine markets with applications in the craniofacial, spine and oral surgery procedures. The resorbable implant technology can work synergistically in support of osteogenesis as both an osteoinductive and osteoconductive matrix. The DBM contains biologically active morphogenic proteins to promote mesenchymal cells differentiation into chondrocytes and osteoblasts. With these new proteins introduced to the surgical site, new bone formation will be promoted and accelerate healing.
Based in Austin, TX, Ossifix Orthopedics™ patent pending products are manufactured from select, allograft cortical bone. Ossifixs’ unique manufacturing process and patent pending designs yield advanced orthopedic products engineered to provide secure fixation while virtually eliminating any allergic or autoimmune reactions associated with metal or plastic/polymer products.
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 Ossifix team has continued to meet with health care facilities and professionals across orthopedic disciplines with significant response. Ossifix is well positioned to expand their market share as they continue to develop and release their suite of products over the course of this year. I believe the Ossifix brand will be a regular staple within the global healthcare system.”
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.
