Medtronic (NYSE:MDT) is reportedly developing a soft tissue surgical device to rival the da Vinci SP robot-assisted surgery platform made by Intuitive Surgical (NSDQ:ISRG). Bernstein analyst Lee Hambright, writing today in a note to investors, said Fridley, Minn.-based Medtronic is slated to reveal the device during its Sept. 24 analyst day, according to Seeking Alpha. The […]
TransEnterix shares dive on disappointing Q2 sales
Shares of TransEnterix (NYSE:TRXC) started inching back up this morning following a nearly 33% plunge yesterday fueled by disappointing second-quarter results. The Research Triangle Park, N.C.-based company posted losses of $20.1 million, or -10¢ per share, on sales of $3.64 million for the three months ended June 30, 2019. Adjusted to exclude one-time items, losses […]
Siemens to acquire Corindus in $1.1B deal
Corindus Vascular Robotics (NYSE:CVRS) reported its second-quarter financials today, revealing that it inked a deal to be acquired by Siemens Healthineers (NYSE:SI) in an all-cash deal valued at roughly $1.1 billion. Siemens Medical Solution, a subsidiary of Siemens Healthineers, is slated to acquire all issued and outstanding common stock in Corindus for $4.28 apiece in cash. The […]
These 7 trends matter the most for medtech in 2019
The medical device industry is experiencing another eventful year in 2019. Medtech companies face many headwinds, from the U.S.-China trade war to an FDA under fire. But the industry is also seeing the rise of new technologies — especially robot-assisted surgery. In fact, so many major companies are getting involved in robot-assisted surgery that some […]
Japanese government will cover TransEnterix robot-assisted surgeries
Japanese health and welfare officials agreed to reimburse healthcare providers for procedures using the TransEnterix (NYSE:TRXC) Senhance robot-assisted surgery device, the company said today. The reimbursement, which became effective yesterday, applies to 98 benign and malignant laparoscopic procedures across general, colorectal, gynecologic, bariatric and urologic surgeries. The reimbursement rates are equivalent to those provided in […]
Huennekens out, Azarbarzin in at Verb Surgical | Personnel Moves, July 24, 2019
Veteran medtech executive Scott Huennekens is out as CEO of Verb Surgical, the robot-assisted surgery joint venture between Johnson & Johnson (NYSE:JNJ) and Google parent Alphabet (NSDQ:GOOGL), which today installed Kurt Azarbarzin in the corner office. Azarbarzin, himself a medical device industry longtimer, was co-founder & CEO of SurgiQuest until its 2016 acquisition by ConMed (NSDQ:CNMD), where he was named […]
Intuitive Surgical beats The Street on Q2 earnings
Intuitive Surgical (NSDQ:ISRG) today reported better-than-expected earnings and revenue for its second quarter amid 24% year-over-year growth in shipments of da Vinci surgical systems. The dominant robot-assisted surgery company reported profits of $318.3 million, or $2.67 per share, on sales of $1.10 billion for the three months ended June 30, 2019, for a bottom-line gain of […]
Titan Medical on track for FDA, CE Mark bids this year
Titan Medical (TSX:TMD;OTC:TITFX) said today that it’s on track to submit approval bids this year for its Sport robot-assisted surgery device in the U.S. and Europe. The Toronto-based company said it completed all procedures under Good Laboratory Practices guidelines for acute and chronic animal and human cadaver studies, with slated to follow by the end of […]
Musk’s NeuraLink eyes 2020 human trials for brain implant
NeuraLink yesterday pulled back the curtain on the implant it hopes will wirelessly enable the human brain to control machines, reportedly including the robot-assisted implantation system it devised for its “neural lace” sensors, the sensors themselves and a chip designed to clean and amplify brain signals. The Elon Musk-backed company had previously only described its […]
Neocis raises $30m for Yomi robot-assisted dental surgery device
Neocis yesterday said it pulled down $30 million for the Yomi robotic guidance system for dental implant procedures it developed. Miami-based Neocis, which won 510(k) clearance from the FDA for Yomi in 2017, said it plans to use the proceeds on commercialization and R&D. Existing investors, including Mithril Capital Management, backed the round, joined by […]
Intuitive Surgical grabs supplier Schölly Fiberoptic’s robotic endoscope biz
Intuitive Surgical (NSDQ:ISRG) said yesterday that it paid an unspecified amount to buy Schölly Fiberoptic‘s robotic endoscope business. Denzlingen, Germany-based Schölly, a 20-year supplier for Intuitive, designed and manufactured several imaging systems for Intuitive’s flagship da Vinci surgical systems. The vendor relationship is slated to continue with Schölly’s fiberoptic business, Intuitive said. The deal includes Schölly’s […]
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