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Smith & Nephew (SNN), HOPCo to Enhance Musculoskeletal Care
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Smith & Nephew SNATS (SNN - Free Report) recently announced an exclusive digital and advanced analytics collaboration with Healthcare Outcomes Performance Company (HOPCo) – the world’s largest, fully integrated, musculoskeletal value-based care and outcomes management company.
The collaboration is likely to enhance solutions for Ambulatory Surgical Center’s (ASC) customers, physicians, and patients through HOPCo’s digital health and analytics platforms, myrecovery and Vitals.
More on the Partnership
Smith & Nephew is looking forward to this partnership with HOPCo as it is likely to provide a comprehensive technology platform that encompasses all musculoskeletal procedures performed in the ASC segment. The collaboration is likely to bring HOPCo’s innovative digital solutions to customers in the ASC across both SNN’s Orthopaedic and Sports Medicine businesses.
The AI-powered myrecovery platform enhances the clinical experience by utilizing patient engagement tools such as remote care management, real-time communications, and remote therapeutic monitoring (RTM) while providing quality outcome metrics through proprietary activity tracking technology, functional outcomes reporting, patient-reported outcomes (PROMs), and longitudinal data integration across a patient’s care journey. HOPCo’s Vitals platform provides tools, analytics, and dashboards that are likely to help Smith & Nephew’s customers deliver better, more efficient and coordinated care while also meeting value-based care requirements aiming to reduce cost.
HOPCo’s solutions are likely to allow SNN’s customers to unlock value in the ASC be it using RTM, PROMs, or leveraging analytics to drive efficiencies. Data from the CORI Surgical System’s image-agnostic robotic-assisted knee surgeries will now be augmented with powerful data-driven insights from HOPCo’s Vitals and AI-powered myrecovery digital solutions. The integrated digital platform is surely to encompass some of the most advanced practice and health system analytics solutions available.
Planned integration with Smith & Nephew’s intraoperative data from the CORI Surgical System through RI.INSIGHTS Data Visualization Platform will provide surgeons and healthcare providers with enhanced analytics to link personalized surgical planning, intra-operative decision-making, and PROMs tracking and optimization.
Industry Prospects
Per a report by Precedence Research, the global AI in the healthcare market was estimated to be $15.1 billion in 2022 and is anticipated to surpass $187.95 billion by 2030 at a CAGR of 37%. Factors like the growing adoption of digital technologies in the healthcare sector and the increased patient pool at hospitals are likely to drive the market.
Given the market potential, the latest collaboration is expected to provide a significant boost to Smith & Nephew’s business globally.
Notable Developments
In July, SNN announced the receipt of FDA 510(k) clearance for its new CATALYSTEM Primary Hip System. The system is made to meet the changing needs of primary hip surgery, such as the growing popularity of anterior approach procedures and the growing significance of ambulatory surgery centers.
In June, SNN announced the launch of its new CORIOGRAPH Pre-Operative Planning and Modeling Services. This launch is likely to provide personalized solutions for surgeons and patients across partial and total knee arthroplasty procedures.
In April, SNN announced an exclusive distribution agreement with NAVBIT, a specialized player in surgical technology. This exclusive partnership, unveiled during the Australian Orthopedics Association COE Meeting in Sydney, marks a significant step in expanding its implant business in Australia.
Price Performance
In the past six months, SNN’s shares have gained 9% compared with the industry’s growth of 4.4%. The S&P 500 increased 10% in the same time frame.
Universal Health Service has an estimated long-term growth rate of 19%. UHS’ earnings surpassed estimates in each of the trailing four quarters, with the average being 14.58%.
Universal Health Service has gained 41.1% compared with the industry's 34.8% rise so far this year.
Quest Diagnostics has an estimated long-term growth rate of 6.20%. DGX’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 3.31%.
Quest Diagnostics shares have gained 3.7% so far this year compared with the industry’s 10.2% rise.
ABM Industries’ earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 7.34%.
ABM's shares have risen 24.1% so far this year compared with the industry’s 11.9% growth.
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Smith & Nephew (SNN), HOPCo to Enhance Musculoskeletal Care
Smith & Nephew SNATS (SNN - Free Report) recently announced an exclusive digital and advanced analytics collaboration with Healthcare Outcomes Performance Company (HOPCo) – the world’s largest, fully integrated, musculoskeletal value-based care and outcomes management company.
The collaboration is likely to enhance solutions for Ambulatory Surgical Center’s (ASC) customers, physicians, and patients through HOPCo’s digital health and analytics platforms, myrecovery and Vitals.
More on the Partnership
Smith & Nephew is looking forward to this partnership with HOPCo as it is likely to provide a comprehensive technology platform that encompasses all musculoskeletal procedures performed in the ASC segment. The collaboration is likely to bring HOPCo’s innovative digital solutions to customers in the ASC across both SNN’s Orthopaedic and Sports Medicine businesses.
The AI-powered myrecovery platform enhances the clinical experience by utilizing patient engagement tools such as remote care management, real-time communications, and remote therapeutic monitoring (RTM) while providing quality outcome metrics through proprietary activity tracking technology, functional outcomes reporting, patient-reported outcomes (PROMs), and longitudinal data integration across a patient’s care journey. HOPCo’s Vitals platform provides tools, analytics, and dashboards that are likely to help Smith & Nephew’s customers deliver better, more efficient and coordinated care while also meeting value-based care requirements aiming to reduce cost.
HOPCo’s solutions are likely to allow SNN’s customers to unlock value in the ASC be it using RTM, PROMs, or leveraging analytics to drive efficiencies. Data from the CORI Surgical System’s image-agnostic robotic-assisted knee surgeries will now be augmented with powerful data-driven insights from HOPCo’s Vitals and AI-powered myrecovery digital solutions. The integrated digital platform is surely to encompass some of the most advanced practice and health system analytics solutions available.
Planned integration with Smith & Nephew’s intraoperative data from the CORI Surgical System through RI.INSIGHTS Data Visualization Platform will provide surgeons and healthcare providers with enhanced analytics to link personalized surgical planning, intra-operative decision-making, and PROMs tracking and optimization.
Industry Prospects
Per a report by Precedence Research, the global AI in the healthcare market was estimated to be $15.1 billion in 2022 and is anticipated to surpass $187.95 billion by 2030 at a CAGR of 37%. Factors like the growing adoption of digital technologies in the healthcare sector and the increased patient pool at hospitals are likely to drive the market.
Given the market potential, the latest collaboration is expected to provide a significant boost to Smith & Nephew’s business globally.
Notable Developments
In July, SNN announced the receipt of FDA 510(k) clearance for its new CATALYSTEM Primary Hip System. The system is made to meet the changing needs of primary hip surgery, such as the growing popularity of anterior approach procedures and the growing significance of ambulatory surgery centers.
In June, SNN announced the launch of its new CORIOGRAPH Pre-Operative Planning and Modeling Services. This launch is likely to provide personalized solutions for surgeons and patients across partial and total knee arthroplasty procedures.
In April, SNN announced an exclusive distribution agreement with NAVBIT, a specialized player in surgical technology. This exclusive partnership, unveiled during the Australian Orthopedics Association COE Meeting in Sydney, marks a significant step in expanding its implant business in Australia.
Price Performance
In the past six months, SNN’s shares have gained 9% compared with the industry’s growth of 4.4%. The S&P 500 increased 10% in the same time frame.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
SNN carries a Zacks Rank #3 (Hold) at present.
Some better-ranked stocks in the broader medical space are Universal Health Service (UHS - Free Report) , Quest Diagnostics (DGX - Free Report) and ABM Industries (ABM - Free Report) . While Universal Health Service sports a Zacks Rank #1 (Strong Buy), Quest Diagnostics and ABM Industries carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Universal Health Service has an estimated long-term growth rate of 19%. UHS’ earnings surpassed estimates in each of the trailing four quarters, with the average being 14.58%.
Universal Health Service has gained 41.1% compared with the industry's 34.8% rise so far this year.
Quest Diagnostics has an estimated long-term growth rate of 6.20%. DGX’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 3.31%.
Quest Diagnostics shares have gained 3.7% so far this year compared with the industry’s 10.2% rise.
ABM Industries’ earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 7.34%.
ABM's shares have risen 24.1% so far this year compared with the industry’s 11.9% growth.