Robert Isaacs Presents TrackX Technology at LSI USA ‘23

Transcription

Hi everyone. I'm Robert Isaacs former director of spine surgery at Duke University. Multi time exited founder in the computer assisted surgery space and CEO and co founder of TrackX. TrackX gives surgeons a virtual live fluoroscopy mean they can see their surgical tools whenever they want take a standard x ray. But in between all the X rays they take, they get what's virtual live fluoroscopy, they can see where they are as if they're hitting the button without the radiation exposure. That's a real X ray, but in between the next X ray and that that's all virtual, and then that's real X ray. And then that's all virtual, they can see critically where they are at all times. And then when they need to take a shot, they can take any shot they want. We're going after this 17 million or so fluoroscopic procedures from the United States every year. We're starting with minimal invasive spine surgery and then branching out from there. We have a razors and blades strategy where effectively we place units. We consign units and hospital we sell disposables, we call them snaps, $2,000 on average per snap 3000 on average per procedure, we have over 90% margins. Multiple issued patents brought FDA clearance and greater than 15%. month over month traction over the last three quarters were over a $3.5 million run rate at this point. Anyone who's been in an operating room has seen a fluoroscopically guided procedure. In fact, half of the most common medical procedures in the United States every year are fluoroscopically guided meaning an x ray machine called a fluoroscope is used to help guide the physician to do what they want to achieve. And they all look like this. It's x ray X ray X ray X ray X rays, you're trying to move that instrument into the spot the surgeon once in order to perform that step in the procedure X ray X ray X ray and eventually they'll get there, eventually they'll get to the point where they want to. And once they do, they'll be done with that step. And then the move to the next step, which will look an awful lot like that. And rinse and repeat. Each individual X ray is not that big a deal, the cumulative impact of the hundreds, literally 1000s of x rays taken in a given procedure as massive impact to the lives of healthcare providers and patients. Four times higher rate of cancer amongst physicians who perform these types of procedures, half of us will end up getting cataracts into the patient will increase their lifetime risk of cancer by a couple percent. These are problems. And of course, they've been looking for solutions. medical device companies unless you have been not privy to the field have been looking at robots and navigation systems and the like, for decades trying to solve this problem trying to avoid taking these X rays in the operating room. But the majority of us in fact, over three quarters, never use them. Most of us find the systems to be cumbersome, bulky and extremely inefficient in the or they slow us down by half an hour or more. And has been shown actually in every national survey study to increase the rate of major complications. So people use a fluoroscope, because they want to confirm what they're doing in real time they want to make sure they're doing the surgery correctly, they'd rather risk their own health. It's an every hospital in the country, a floor scope is in every Outpatient Center, floor scope is everywhere. It's ubiquitous technology is way we're all trained to do surgery, and it doesn't change the surgical workflow. And so rather than trying to get rid of the floor scope, we elected to try to improve it effectively. And we're the only navigation product that seamlessly blends into a fluoroscopic environment. And that's TrackX. So that means that the surgeon can use the same CRMs the same workflow, the same instruments and instrumentation that we're used to using today. But by adding that navigation backbone into it, that means greater accuracy, substantially decreased over time, and to boot over 90% radiation reduction. And we're able to do this by design using again, our snaps, which is in this case orange without any capital investment by the facility. We do so by adding a cap and a collar the two blue things onto a standard floor scope that already exists in the hospital or outpatient center to the instrument they want to track we have to add a snap, which was the black thing. And then any x ray they take shows up on the screen whatever they want, but when they move that instrument, when we have a snap attached to it, then we can see watch it as if we're performing live fluoroscopy like you saw earlier, whenever they're ready and whenever they need, they can take any shot they want. That shot and only confirms what they're doing and proves that we're telling the truth, but actually recalibrates the entire system, meaning that every shot you take keeps the technology on track and we're the only system out there effectively allows physicians to do that in real time, and just a few seconds, they can get to the exact place they want, at the right angle, the right location, and complete that step in the procedure, which means substantially decreased operating room time and less radiation. In randomised controlled trials, we've shown over 90% of the radiation reduction at the same time, almost half an hour or time saving per procedure when they use this technology. A recent study shows that we have the accuracy equivalent to the best navigation robotic systems on the market, but in the same surgeon's hands over a three year period of time. The last study shows that we save an hour of operating room time per procedure when they use when the same surgeon uses our technology versus a robot. Which it means a lot to hospitals because time is money in the LR as is the our business model, our business model favors the way the hospitals think about it, they don't have to acquire a large capital expenditure upfront, they don't have to commit millions of dollars of implant sales to have and they extended charges that first that last over time. Track X is a simple business model where you pay for snaps, you use a snap, you pay for it. We're starting out in the southeast and we're looking for spine surgeons who are heavily fluoroscopically driven that means a lateral excellent ayliffe. O lif ATP or endoscopic patient, physicians, physicians that are tied to the floor scope, which is as I said, the majority of us we're going to go deeper into their practices go to their partners and eventually expand into other areas of orthopedics. Namely orthopedic trauma will be our next field which will enter at the by the end of the year. To the hospital we're offering to retain and improve their number of spine cases to outpatient centers. We're specifically looking to bring high dollar high margin cases to those facilities in a way that is economically viable to them to succeed. We have a razors and blades strategy, as I said earlier, 2000 on average per snap 3000 per procedure or 90, our margins over 90%. Two, we also offer a subscription model, effectively allowing outpatient centers and the like to control their costs and still obtain technology that like they need. And extremely high margins as you can see on the on the screen. Our cogs are about $35,000 a pop for the system and $35 apiece for a snap. We've done well over 1000 cases in over a dozen facilities were on track to hit were over 3.5 million and run rate at this point we're growing as I said 15% month over month, which projects out nicely over the course of the next couple of years. The market opportunity here is massive because fluoroscope thoracoscopy is everywhere. And so as we branch out to go from mineral invasive spine into greater orthopedics, we expect the opportunity to grow and grow. We're in our pipeline is full mostly in the southeast, as we're a Southeastern based company. We have multiple issued patents abroad FDA clearance allowing us to letter to file a new procedure, a new area of medicine, any new snap. And a team that successfully invented and then builds ultimately brought into the or been DD and less re prior to exiting those technologies and now have reformed to build tracks. To that we've added a number of others, including the including a number of people from maser, which we're pretty excited to have. Our goal is to be standard of care and fluoroscopy. And we're doing so by taking small bites of the apple and growing that overall. For that we're looking to raise 20 million as we send a commercial round, and I'm happy to talk to anyone who'd be interested in finding out more or I talk more about tracks and thank you very much.