Monogram Orthopedics (NASDAQ: MGRM), an AI-powered robotics company based in Austin, Texas, is on the brink of commercializing its next-generation surgical robot designed to improve orthopedic surgeries. The company's technology promises to revolutionize the field by leveraging a combination of robotics, 3D printing, and pre-operative imaging to enhance surgical precision and patient outcomes.
The orthopedic surgery robotic market, valued at $6.8 billion in 2022, is projected to reach $16 billion by 2030, according to Virtue Market Research. Monogram is strategically positioned to capitalize on this growth with its mBôs surgical robot, mVision technology, and underlying intellectual property.
Monogram’s advanced technology is expected to introduce a new level of precision in surgeries, potentially reducing recovery times and improving overall patient care. Dr. Fabio Orozco, an orthopedic surgeon specializing in hip and knee replacements, emphasizes the advantages of Monogram's technology. “You start thinking about 0.5 millimeters and 0.5 degrees and being able to reproduce your plan exactly to reality in a patient. And then you start seeing rapid recoveries - patients don’t need six months to recover from surgery or don’t need physical therapy,” said Orozco.
Orozco, who performs approximately 1,000 hip and knee replacements annually using robotics, has been using Monogram’s Mako robot for the past decade. He anticipates that Monogram’s next-gen mBôs technologies will elevate orthopedic surgeries to a new level. “When you bring Monogram to your table, it’s going to make a significant difference in the way that we practice orthopedics,” he added.
One of the standout features of Monogram’s technology is its ability to 3D print implants that replicate the structure of human organs and tissues, allowing for customization to a patient’s anatomy. Dr. Bobby Jamieson, another orthopedic surgeon, agrees that Monogram is taking orthopedic surgery to the next level. Jamieson, who performs around 650 hip and knee surgeries each year, has been involved in robotics for years and looks forward to integrating Monogram’s technology upon FDA approval.
Jamieson appreciates Monogram’s approach, which incorporates the best features of existing robotic platforms into a single system. “What I appreciate most about the company’s technology is that it takes the best of all robotic platforms available, including features such as navigation, and builds them into a single robot, setting the tech suite apart and drumming up excitement in the industry,” he said.
Monogram Orthopedics boasts a market cap of over $90 million, and its competitive edge lies in its specialized focus on surgical robotic systems. This singular focus, combined with advanced 3D printing capabilities, positions Monogram ahead of larger corporations with broader focuses.
The company has recently submitted its 510(k) for its mBôs TKA System to the U.S. Food and Drug Administration (FDA) and has received administrative approval to proceed with the next step, which involves a formal review. FDA approval is crucial for advancing the technology on the clinical side and ultimately bringing it into practical use.
Dr. Jamieson likens Monogram’s technological advancement to that of the iPhone, noting that the company’s latest innovations are akin to jumping several generations ahead in technology. “The advantage that Monogram has coming to market is that it’s already at this iPhone five or 10 [level]… they’re able to come in as the newest technology that’s on the market and put it into one robotics system,” he said.
As Monogram Orthopedics moves closer to commercializing its next-gen surgical robot, the potential impact on the field of orthopedic surgery is significant. Enhanced precision, reduced recovery times, and improved patient outcomes could soon become the norm, thanks to Monogram’s innovative approach to surgical robotics.
