RTI Surgical Gains From HealthPartners' Nod For SI Surgery
Zacks Investment Research | Nov 22, 2018 10:07PM ET
RTI Surgical, Inc. (NASDAQ:RTIX) recently announced HealthPartners’ positive coverage decision for its minimally invasive sacroiliac (SI) joint fusion surgery. Notably, this will increase access to the company’s SImmetry System for HealthPartners members considering treatment of SI joint pain or dysfunction. This is likely to fortify RTI Surgical’s foothold in the minimally invasive devices industry.
Following the news, shares of RTI Surgical inched up by a penny to $4.30 at close.
For investors’ notice, HealthPartners is the largest consumer governed nonprofit health care organization in the United States.
More on SImmetry System
RTI Surgical’s SImmetry System is a minimally invasive surgical solution, providing long-term pain relief through decortication technology, bone graft and threaded fixation.
Notably, the system currently sees robust demand and contributed significantly to RTI Surgical’s Spine business in the recently reported third-quarter 2018.
Booming Minimally-Invasive Surgery Market
Reduced stay at hospital and lower healthcare costs, pain, scarring and tissue-damage are a few benefits of opting for minimally-invasive surgery over traditional procedures. Such surgical methods are currently raking in billions in the surgical industry.
Some of the MedTech bigwigs, deserving special mention in this regard are, Intuitive Surgical (NASDAQ:ISRG) and Medtronic plc (NYSE:MDT) . Intuitive Surgical’s much-coveted da Vinci surgical system — an advanced robot-assisted surgical platform — and Medtronic’s Minimally Invasive Therapies Group currently witness robust demand, worldwide.
BIS Research projects the global minimally invasive surgical systems market to reach a value of $40.52 billion by 2025 at a CAGR of 10.9%.
Hence, RTI Surgical’s latest development seems a well-timed one.
Price Performance
We believe that such positive developments are likely to drive the shares of RTI Surgical and help the stock rebound as it has declined 9.5% against the the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here .
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