Is Monogram a good investment?
/Monogram is a medical technology startup revolutionizing knee replacements and orthopedic implants. Their mission is to make orthopedics personal. Currently, joint replacements are generic-sized implants that often cause residual problems. In fact, 100,000 implants fail every year.
The Texas-based company is using 3D-printed, customized implants and robotic surgical assistants to help improve outcomes. And now, you have the opportunity to buy the company’s stock by investing through Monogram’s equity crowdfunding raise.
But, is buying Monogram orthopedics stock a good investment? Keep reading to decide for yourself.
Monogram orthopedics stock is attracting investors
Monogram robotics is a robotics platform working to install personalized implants. The robotics-driven orthopedic solution will initially focus on knee replacements. The company has a robot prototype that can autonomously scan and map someone’s knee and then use precision incisions and cuts to install the implant. This aims to be a less intrusive surgical experience for patients that leads to a better-fitting implant. They’ve demonstrated their robotic surgery on a cadaver in front of a live audience of over 5,000 viewers.
But the robotic surgical assistants are just one part of Monogram’s appeal. Their implants are innovative orthopedics and are also designed to improve patient outcomes.
Benjamin Sexson, Monogram’s CEO, shared more about the use of generic implants in an interview. He stated, “Patients are permanently and irreversibly amputating arthritic bone to have it replaced with an off-the-shelf generic implant that, in non-clinical terms, gets “hammered” into place. We quite literally are replacing joints with implants that are guaranteed not to fit perfectly. We are working to mitigate the risks of arthroplasty with technology that drives personalization.”
Monogram robotics has made its mission to ensure that patients receive the best care modern medicine can provide.
Can Monogram disrupt the $19.4B joint replacement market?
As an investor, it’s necessary to understand the market before diving in with your dollars. In case you’re not familiar with robotics stocks, and the joint and knee replacement industry, here are some high-level insights.
Overall, joint replacements are a $19.4B market. The knee replacement market is expected to more than triple by 2030. Currently, there are more than 1 million knee replacement surgeries conducted a year in the United States alone. This figure is expected to increase to 3.5 million by 2030.
The increase is partially due to the fact that young and active patients are expected to account for more than half of all knee replacement procedures by 2030—creating a total market of at least $12.5 billion.
Additionally, it is estimated that fifty percent of knee replacements will be performed robotically by 2027, a fivefold increase in less than six years.
Unfortunately, most of today's cutting-edge implants are mass-produced. These generic, mass-produced implants are not designed to perfectly restore the individual patient's anatomy. Over time, they can break and cause problems for the patient.
Monogram's innovative orthopedics and custom-printed implants will use each patient's individual bone structure as a blueprint leading to more successful implant surgeries.
Monogram’s innovative orthopedics is revolutionary
The big problem in the market is that joint replacement surgeries have a high failure rate. Over 100,000 knee replacements, or about 9.6% of all procedures, fail every year because current joint replacements are generic and patients can endure complications like infection, implant breakage, stiff joints, chronic pain, and the list goes on.
Currently, over 90% of joint replacement surgeries use cemented implants. Cemented prosthetics can break and cause problems over time. Porous metal press-fit implants allow the bone to fuse to the metal and hold it in place naturally.
Monogram orthopedics is working to fix the failure rate by offering a personalized approach and personalized products. The company expects its surgical approach will mitigate revision incidences from a failure of fixation or surgical error.
Monogram only uses uncemented, also known as press-fit, implants in their joint replacements.
In a press release, Monogram stated, “We believe that the future of orthopedic joint replacements lies in build-to-order, press-fit patient-optimized implants that rely on natural biologic fixation rather than cement.”
Monogram can optimize and customize how the implant fits into the bone by using 3D printing capabilities combined with a surgical robot. The result is a highly stable implant that allows the bone to grow, or fuse, into the implant. Ultimately, this results in an overall healthier replacement and improved stability.
How Monogram robotics works
Monogram robotics will install 3-D printed joint implants customized to fit each patient's specific bone structure with hand-in-glove precision. The company says its system will enable surgeons to replace joints with flawlessly fitted implants and through less-invasive procedures. This innovative approach results in reduced rates of infection, dislocation, and implant failure.
Below is a four-step overview of how Monogram’s product works.
Step one: The surgeon initiates a CT scan that creates a precise 3D model of the patient's bone structure.
Step Two: Monogram makes a patient-specific plan using a machine learning algorithm.
Step Three: The company starts 3D-printing of the patient-optimized titanium alloy press-fit implant.
Step Four: The surgical robot precisely mills the bone cavity and implants the prosthetic bone
Dr. Doug Unis, founder of Monogram and board-certified orthopedic surgeon stated, "We are poised to do what no other company has done in the total joint reconstruction market before - harness technology to build truly personalized implants that fully tap into the power of intelligent robotics."
Dr. Unis goes on to say, “Ultimately, our system builds on fundamentally good surgical procedures. Hip and knee replacements are proven to be long-lasting medical interventions that offer immediate improvement in a patient’s quality of life. We are now using the best available technologies to reduce the limitations of human error and off-the-shelf technology, bringing these procedures even closer to perfection.”
Monogram orthopedics accomplishments and patents
Monogram orthopedics has conducted experiments with the UCLA Orthopedic Research Center that showed 8 times more stability of their robotically inserted hip implant when compared to manually prepared generic test specimens.
To date, the company has one issued patent and has filed for seven more. Its 6,000-square-foot facility includes a fully functioning cadaver and robotics labs.
Monogram has also received a National Science Foundation (NSF) Award and was the subject of a Small Business Innovation Research (SBIR) Phase I award.
Is Monogram orthopedics a good investment?
If you’re wondering, “should I invest in Monogram?” or “is Monogram orthopedics a good investment?” at Money & Mimosas we encourage you to ask yourself three questions:
What are the potential roadblocks?
What is the potential growth or upside?
How does this align with my values and/or overall investment strategy?
All innovation investments are risky, but the biggest potential roadblock we see for Monogram is the challenge of breaking into an industry with incumbent companies. The joint reconstruction market is dominated by four huge conglomerates with deep pockets. Therefore, it may be difficult to persuade surgeons with new technology when the market has been accustomed to operating in a specific way for decades.
However, we also see the potential for growth. Although the industry is dominated by legacy conglomerates, the staggering failure rate of joint reconstruction surgeries likely means that surgeons are eager for more innovative solutions for their patients.
Additionally, although the incumbent companies have deep pockets, Monogram has raised approximately $38 million as of July 2022.
Another upside is that Monogram is backed by a seasoned team of board-certified medical leaders and top technology talent from prestigious educational and medical institutions. Its team includes executives, engineers, data scientists, and advisors from Yale University, California Institute of Technology, Columbia University, Mount Sinai Health System, Think Surgical Inc., Motional, and the Orthopedics Institute for Children, among others.
How to invest in Monogram stock
Monogram is currently offering shares at $7.25. The minimum investment is $1,087.50.
The process of investing is really easy. You head over to the Monogram stock page and enter your email information into the invitation box. From there, the website will walk you through the seamless process of becoming an investor with Monogram.
