Smith+Nephew (SNN) Introduces Real Intelligence & CORI System

Smith+Nephew SNN recently launched its Real Intelligence brand of enabling technology solutions as well as its next-generation handheld robotics platform, the CORI Surgical System, in Canada. The CORI Surgical System has been approved by Health Canada and is available for sale in the country.

Through the continuum of care, Real Intelligence will address clinical challenges such as patient engagement, pre-operative planning, digital and robotic surgery, post-operative assessment and outcomes measurement. Every solution in the Real Intelligence digital ecosystem informs the next stage of treatment, allowing healthcare providers to utilize outcomes data in making more informed decisions regarding how they treat their patients over time.

The CORI Surgical System, available for both total and unicompartmental knee arthroplasty, will stand at the center of the Real Intelligence brand. Per management, the introduction of CORI Surgical System offers a handheld robotic-assisted platform that is especially well adapted to meet the needs of the Canadian marketplace.

More on the CORI System

The CORI System eliminates the need for computed tomography (CT) or pre-op imaging. This system has the potential to enhance implant placement accuracy as well as operating room (OR) efficiency. The CORI System is a fraction of the size of other robotic platforms on the market and represents the first step in Smith+Nephew's long-term plan to alter how orthopedic surgeons in Canada treat patients.

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Smith+Nephew intends to continue introducing new applications for this robotics platform, moving beyond knee procedures and into other orthopedic pathologies. In conjunction with intuitive software, the handheld robot helps to size and position the components with accuracy and achieve optimum ligament balance. The entire system is efficient and portable, an ideal combination for a congested OR.

Industry Prospects

Per a report published in Mordor Intelligence, the robotic-assisted surgery systems market is set to witness a CAGR of 13.6% during 2018-2026. Factors such as increasing technological advancements, entry of new market players, growing burden of chronic disorders and the rising preference for robotic-assisted surgical systems owing to the several advantages associated with them, such as facilitation of precise, tremor-free surgery and benefits of minimally-invasive methods, are fueling market growth.

Given the market prospects, the recent Canadian launch of Smith+Nephew’s next-generation handheld robotics platform, the CORI Surgical System, seems well-timed.

Notable Developments

Smith+Nephew engaged in a number of significant developments in November 2021.

The company announced the creation of a purpose-built digital surgery and robotics innovation center in Munich, Germany. The new innovation center will bring together healthcare professionals from EMEA and Smith+Nephew’s R&D and medical education teams to investigate digital surgery and robotics techniques and technologies. At the heart of the innovation center will be Real Intelligence and the new state-of-the-art robotics-assisted surgical system CORI.

Smith+Nephew reported the first completed surgical procedures and introduced its LEGION CONCELOC Cementless Total Knee System. CONCELOC Advanced Porous Titanium is a patented, proprietary, 3D printed porous structure technology initially utilized in Smith+Nephew’s REDAPT Revision Hip System. CONCELOC is created in a virtual environment and built via 3D printing additive manufacturing to optimize its porosity structure to promote bone ingrowth.

Share Price Performance

The stock has underperformed its industry over the past year. It has declined 10.6% compared with the industry’s 2.8% fall.

Zacks Rank and Key Picks

Currently, Smith+Nephew carries a Zacks Rank #4 (Sell).

A few better-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. AMN, Varex Imaging Corporation VREX and Omnicell, Inc. OMCL.

AMN Healthcare, carrying a Zacks Rank #1 (Strong Buy), has a long-term earnings growth rate of 16.2%. The company surpassed earnings estimates in the trailing four quarters, delivering an average surprise of 19.5%. You can see the complete list of today’s Zacks #1 Rank stocks here.

AMN Healthcare has outperformed its industry over the past year. AMN has gained 72.5% against the industry’s 49% fall.

Varex, sporting a Zacks Rank #1, has a long-term earnings growth rate of 5%. The company surpassed earnings estimates in the trailing four quarters, delivering an average surprise of 115.3%.

Varex has outperformed the industry it belongs to in the past year. VREX has gained 80.9% versus the industry’s 2.9% fall.

Omnicell, carrying a Zacks Rank #2 (Buy), has a long-term earnings growth rate of 16%. The company surpassed earnings estimates in the trailing four quarters, delivering a surprise of 17.4%, on average.

Omnicell has outperformed its industry over the past year. OMCL has gained 68.4% against the 37% industry decline.

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