Paragon 28, Inc. FNA recently announced the launch of the SMART28 Case Management Portal. This cutting-edge platform leverages AI to provide a seamless user experience to coordinate patient-specific surgical plans. It is the first major launch within Paragon 28’s SMART28 ecosystem, a portfolio of solutions and products.
Additionally, the company launched SMART Bun-Yo-Matic for bunion correction. It is the first module to be launched with the SMART28 Case Management Portal.
The latest development underscores the company’s commitment to improving all aspects of foot and ankle treatments by utilizing artificial intelligence, data analytics, patient-specific algorithms, 3D modeling and other enabling technologies.
About SMART28 Case Management Portal
The SMART28 Case Management Portal gives surgeons the ability to plan cases, coordinate surgery dates and submit patient imaging. It also serves as a direct line of communication with the Paragon 28 engineering and sales teams for real-time support, status updates and surgical planning insights. The Case Management Portal is a foundational tool for future modules to serve many additional foot and ankle conditions.
About SMART Bun-Yo-Matic Device
SMART Bun-Yo-Matic is the first foot and ankle orthopedic device in the market that allows the user to see the foot as 3D anatomy from two X-ray images. It contains imaging optionality to input either patient weight-bearing X-rays or weight-bearing CT scans.
The device revolutionizes preoperative planning and correction for hallux valgus by creating plans tailored to the individual patient. It comes with AI-driven algorithms and statistical shape modeling integrated with surgeon input.
With the SMART Bun-Yo-Matic, surgeons can efficiently plan a procedure in 3D and precisely implement the plan with full intraoperative control. The final surgical plan provides the surgeon with user-specific reference points for additional reproducibility when paired with the Bun-Yo-Matic Lapidus Clamp.
Industry Prospects
Per a Precedence Research report, the global foot and ankle devices market size was valued at $4.73 billion in 2023 and is expected to hit $9.32 billion by 2033, at a CAGR of 7.02% during the period. Primary factors driving market growth include the intensified awareness of foot and ankle health, sports injuries, the rising aging population, the surge in the prevalence of chronic diseases and technological innovations. Moreover, the increase in popularity of minimally invasive surgical procedures for the cure of foot and ankle disorders also support market growth.
Looking at the market potential, Paragon 28 is well-positioned to gain from the latest launch of the SMART28 Case Management Portal and the SMART Bun-Yo-Matic device.
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Other Notable Developments
In March 2024, Paragon 28 launched the Grappler R3INFORCE Extraosseous Repair System, which helps restore stability to the anterior and posterior ligaments surrounding the ankle during fibula fracture repairs and high ankle sprains. The system is a new addition to the company’s comprehensive and growing suite of novel solutions, designed specifically to treat injuries to highly complex syndesmosis.
In January 2024, the company made a limited market release of the Bun-Yo-Matic Lapidus Clamp System.
Earlier this year, FNA made a few significant product launches. These include the PRECISION MIS Bunion system for surgeons to complete a distal metatarsal osteotomy using a minimally invasive surgical technique, the FJ2000 Power Console and Burr system designed for a wide range of minimally invasive and open procedures in the foot and ankle, and Mister Tendon System for surgeons to perform a distal cut of the flexor hallucis longus through a minimally invasive incision.
Price Performance
Year to date, shares of FNA have lost 34.1% against the industry's 7.1% growth.
Zacks Rank and Key Picks
Paragon 28 currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader medical space are Intuitive Surgical ISRG, TransMedics Group TMDX and Quest Diagnostics DGX. While Intuitive Surgical and TransMedics sport a Zacks Rank #1 (Strong Buy) each, Quest Diagnostics carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Intuitive Surgical’s shares have surged 68.2% in the past year. Estimates for the company’s earnings have moved north 5.1% to $1.65 per share for 2024 in the past 30 days.
ISRG’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 8.97%. In the last reported quarter, it posted an earnings surprise of 16.34%.
Estimates for TransMedics’ 2024 EPS have moved up 125% to 27 cents in the past 30 days. Shares of the company have soared 155.9% in the past year compared with the industry’s 11.8% growth.
TMDX’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 287.50%. In the last reported quarter, it delivered an earnings surprise of 66.67%.
Estimates for Quest Diagnostics’ 2024 EPS have decreased 0.4% to $2.28 in the past 30 days. In the past year, shares of HAE have risen 13.7% compared with the industry’s 20.4% growth.
In the last reported quarter, DGX delivered an earnings surprise of 1.73%. The company has a trailing four-quarter average earnings surprise of 3.31%.
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