Smith+Nephew partners with HOPCo to provide AI-powered analytics and solutions to ASC customers
Smith+Nephew (LSE:SN, NYSE:SNN), the global medical technology company, today announces an exclusive digital and advanced analytics collaboration with Healthcare Outcomes Performance Company (HOPCo) – the world’s largest, fully-integrated, musculoskeletal (MSK) value-based care and outcomes management company. This collaboration will focus on enhancing solutions for ASC customers, physicians, and their patients through HOPCo’s digital health and analytics platforms, myrecovery® and Vitals®
The partnership with HOPCo provides a comprehensive technology platform that encompasses all musculoskeletal procedures performed in the ASC segment. 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 critical* 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 to help Smith+Nephew customers deliver better, more efficient and coordinated care while also meeting value-based care requirements aiming to reduce cost.
"We are thrilled to partner with HOPCo and the ability to bring their innovative digital solutions to customers in the ASC across both our Orthopaedic and Sports Medicine businesses. The HOPCo solutions will allow our customers to unlock value in the ASC be it through the use of RTM, PROMs, or leveraging analytics to drive efficiencies. Their commitment to driving meaningful change in outcomes through data aligns perfectly with the strength and value of the CORI◊ Surgical System," said Craig Gaffin, President of Global Orthopaedics at Smith+Nephew. "This collaboration underscores our commitment to advancing orthopaedic surgery through innovative technology, improving patient outcomes, and transforming the future of healthcare."
Data from the CORI Surgical System’s ability to perform image-agnostic robotic-assisted knee surgeries will now be augmented with the powerful data-driven insights from HOPCo’s Vitals and AI-powered myrecovery digital solutions. The integrated digital platform will 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.
“Smith+Nephew is clearly committed to using outcomes data to enhance the value of its products and services,” said Dr. David Jacofsky, CEO and Chairman at HOPCo. “HOPCo’s myrecovery and Vitals platforms will allow Smith+Nephew to leverage unique longitudinal data to do just that, while simultaneously providing meaningful additional value to customers and improving patient outcomes.”
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About Smith+Nephew
Smith+Nephew is a portfolio medical technology business focused on the repair, regeneration and replacement of soft and hard tissue. We exist to restore people’s bodies and their self-belief by using technology to take the limits off living. We call this purpose ‘Life Unlimited’. Our 18,000 employees deliver this mission every day, making a difference to patients’ lives through the excellence of our product portfolio, and the invention and application of new technologies across our three global business units of Orthopaedics, Sports Medicine & ENT and Advanced Wound Management.
Founded in Hull, UK, in 1856, we now operate in more than 100 countries, and generated annual sales of $5.5 billion in 2023. Smith+Nephew is a constituent of the FTSE100 (LSE:SN, NYSE:SNN). The terms ‘Group’ and ‘Smith+Nephew’ are used to refer to Smith & Nephew plc and its consolidated subsidiaries, unless the context requires otherwise.
For more information about Smith+Nephew, please visit www.smith-nephew.com and follow us on X, LinkedIn, Instagram or Facebook.
About HOPCo
Healthcare Outcomes Performance Company (HOPCo) is the global leader of integrated musculoskeletal value-based health outcomes management, digital analytics, practice management, and health system service line management. This includes comprehensive expertise across all MSK specialties, including orthopedics, spine, pain management, rehabilitation, neurosurgery, and neurology. HOPCo's integrated care, analytics, and facilities development platforms have proven to increase the quality of patient care while reliably reducing the total cost of MSK care across the care continuum for practices, health systems and payors alike. HOPCo's affiliated payors, practices and health systems successfully participate in highly efficient value-based contracting (bundled payments, population health programs, and other advanced risk-based arrangements) utilizing HOPCo's proprietary platforms, IT solutions, integrated analytics, advanced medical economics and standardized care pathways. Visit www.hopco.com to learn more.
Forward-looking Statements
This document may contain forward-looking statements that may or may not prove accurate. For example, statements regarding expected revenue growth and trading profit margins, market trends and our product pipeline are forward-looking statements. Phrases such as "aim", "plan", "intend", "anticipate", "well-placed", "believe", "estimate", "expect", "target", "consider" and similar expressions are generally intended to identify forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from what is expressed or implied by the statements. For Smith+Nephew, these factors include: conflicts in Europe and the Middle East, economic and financial conditions in the markets we serve, especially those affecting healthcare providers, payers and customers; price levels for established and innovative medical devices; developments in medical technology; regulatory approvals, reimbursement decisions or other government actions; product defects or recalls or other problems with quality management systems or failure to comply with related regulations; litigation relating to patent or other claims; legal and financial compliance risks and related investigative, remedial or enforcement actions; disruption to our supply chain or operations or those of our suppliers; competition for qualified personnel; strategic actions, including acquisitions and disposals, our success in performing due diligence, valuing and integrating acquired businesses; disruption that may result from transactions or other changes we make in our business plans or organisation to adapt to market developments; relationships with healthcare professionals; reliance on information technology and cybersecurity; disruptions due to natural disasters, weather and climate change related events; changes in customer and other stakeholder sustainability expectations; changes in taxation regulations; effects of foreign exchange volatility; and numerous other matters that affect us or our markets, including those of a political, economic, business, competitive or reputational nature. Please refer to the documents that Smith+Nephew has filed with the U.S. Securities and Exchange Commission under the U.S. Securities Exchange Act of 1934, as amended, including Smith+Nephew's most recent annual report on Form 20-F, which is available on the SEC’s website at www. sec.gov, for a discussion of certain of these factors. Any forward-looking statement is based on information available to Smith+Nephew as of the date of the statement. All written or oral forward-looking statements attributable to Smith+Nephew are qualified by this caution. Smith+Nephew does not undertake any obligation to update or revise any forward-looking statement to reflect any change in circumstances or in Smith+Nephew's expectations.
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