Ozop Surgical license agreement with Spinal Resources ‘exceeding expectations’

Ozop Surgical Corp (OTCMKTS:OZSC), a spinal surgical device producer, on Wednesday provided an update on its partnership with Spinal Resources Inc. 

In a statement, the company said it believes the license agreement with Florida-based Spinal Resources is “exceeding expectations.”

In August, Ozop announced it will sell Spinal Resources’ Swedge product, an FDA-approved pedicle screw system used to grip segments of the spine connected by a transition rod.

READ: Ozop Surgical inks licensing agreement with Spinal Resources

The West Palm Beach, Florida company said specific developments with Spinal Resources include:

• Three new surgeons currently using its licensed products, with two more expected to schedule cases before year’s end;
• Two new distributors in the contract finalization stage with a ramp-up expected to start by year’s end;
• Three hospital contracts, including one national agreement, in the finalization stage. Cases starting upon approval, possibly as soon as December;
• Three new product introductions with the first – a proprietary management information system (MIS) system — before the end of the year; and
• First member of its surgeon advisory board has joined, with more updates to follow.

“Our primary objective is to achieve operational profitability at the earliest moment possible,” said Ozop CEO Michael Chermak. “Our path to this goal will be accomplished by a combination of maximizing current sales opportunities and reducing overhead wherever possible, and investing in inventory and product development to support our growing sales pipeline.”

Ozop invents, designs, develops, manufactures and distributes innovative endoscopic instruments, surgical implants, instrumentation, devices and related technologies with a focus on spine, neurological and pain management procedures and specialties.

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Story by ProactiveInvestors