Orthopedic devices maker
Wright Medical Group
) recently reported the inauguration of its MiToe patient outreach
effort to develop a better understanding of different treatments
for hammertoes. The company has developed MiToe as the brand for
its hammertoe offerings, which includes the Pro-Toe VO Hammertoe
Fixation System. In addition, Wright Medical's MiToe hammertoe
related website is now live.
The company's Pro-Toe VO Hammertoe Fixation System along with other
offerings, such as the Inbone Total Ankle Replacement System, may
be viewed at Wright Medical's booth at the American Orthopaedic
Foot & Ankle Society (AOFAS) meeting, at San Diego, during June
20 to June 23, 2012.
Hammertoes are a frequently occurring deformity of the lesser
toes. It is estimated that about 0.5 million surgeries are carried
out annually to treat this deformity. A large proportion of these
cases utilize wire pins, but some patients complain of problems
such as restricted activities.
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Sophisticated implant design has rendered hammertoe implants, such
as the Pro-Toe VO Hammertoe Fixation System, a practical surgical
option for many patients. The implant corrects the deformity and
pain associated with hammertoes while obviating the complications
associated with wires.
There are, however, several risks involved with foot surgery, which
need to be discussed with the doctor. Potential problems include
inflammation, infection, pain, allergic reaction, swelling, implant
While inaugurating the MiToe patient outreach effort, which
includes the website, Wright Medical stated that it was focusing
its effort on the worst victims of hammertoes, i.e., women in the
age group of 40 years to 60 years. In this manner, the company
hopes to grow its foot and ankle operations at a more rapid rate
than the market.
Wright's focus on niche technologies lends some support amid
economic cyclicality. Moving forward, revenue growth will be
supported by new product launches. Moreover, new deals in
extremities are expected to bolster growth in this segment. The
company's restructuring initiatives should also boost future
Our views on the company are moderated by intense competition from
larger players and pricing pressure. Wright Medical competes
with much bigger names such as
Smith & Nephew
). Moreover, the company remains exposed to procedure volume
headwind. Our Neutral recommendation is supported by a short-term
Zacks #3 Rank (Hold).