MALVERN, Pa. - TELA Bio, Inc. (NASDAQ: NASDAQ:TELA), a medical technology company, has announced the U.S. launch of its FDA-approved LIQUIFIX devices for hernia repairs. The LIQUIFIX FIX8™ and LIQUIFIX Precision™ are designed for laparoscopic and open femoral and inguinal hernia repairs, respectively.
These devices represent the only FDA-approved options for affixing mesh and approximating peritoneal tissue using liquid anchors, which could potentially reduce mechanical tissue trauma by avoiding the use of penetrating tacks, sutures, or staples. This non-penetrative approach allows for precise mesh fixation and minimizes the risk of complications.
The LIQUIFIX products are particularly beneficial for mesh fixation in sensitive areas known as the "triangle of doom" and "triangle of pain," where traditional fixation methods could lead to vascular or nerve injuries and chronic pain.
With over 1.2 million hernia procedures performed annually in the U.S., LIQUIFIX's introduction could significantly impact surgical practices. Consultant General Surgeon Mr. Paul Wilson, who has used the device in the U.K., attested to its ease of use and effectiveness, noting a reduction in both acute post-op pain and chronic pain.
Manufactured by U.K.-based Advanced Medical Solutions Limited, the LIQUIFIX products have shown strong performance in Europe and other international markets over the past three years. The U.S. launch is facilitated by TELA Bio's agreement with AMS, leveraging TELA's expanding salesforce and focus on new technologies.
The LIQUIFIX devices are indicated for use with prosthetic polypropylene or polyester mesh and are contraindicated for patients with sensitivities to certain adhesives or dyes, as well as for meshes made of PTFE or for specific types of tissue fixation.
The company's press release statement serves as the source for this information.
InvestingPro Insights
As TELA Bio, Inc. (NASDAQ: TELA) makes strides in the medical technology sector with its innovative LIQUIFIX devices, the financial health and market performance of the company remain key factors for investors. TELA holds a market capitalization of $138.85 million, reflecting its position in the industry. Despite the promising launch of its FDA-approved products, TELA's financial metrics indicate some challenges. The company's P/E ratio stands at -2.79, with an adjusted P/E ratio for the last twelve months as of Q3 2023 at -3.16, signifying that the company is not currently profitable.
Furthermore, TELA's revenue growth has been robust, with a 39.05% increase over the last twelve months as of Q3 2023, suggesting a strong market demand for its products. However, an InvestingPro Tip reveals that analysts do not expect TELA to be profitable this year, which may be a point of consideration for potential investors. Additionally, the company's stock has experienced a decline over the last month, with a 1-month price total return of -21.29%.
For those interested in a deeper dive into TELA's financial outlook, InvestingPro offers additional insights. There are currently 5 more InvestingPro Tips available, which could help investors make more informed decisions. To access these tips and take advantage of real-time metrics, visit https://www.investing.com/pro/TELA. Don't forget to use the coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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