Titan Medical (TSX:TMD;OTC:TITFX) has been able to resume product development of its single-port robotic surgical system, CEO David McNally said today in a letter to shareholders. Titan is back working on its system thanks to a $10 million license payment and $1.5 million loan as part of its new development deal with Medtronic (NYSE:MDT). Titan also recently […]
Smith+Nephew launches next-gen surgical robotics system
Competition continues to heat up in the robotic orthopedic surgery space, with Smith+Nephew (LON:SN) today announcing the launch of its next-gen Cori surgical system. Cleared by FDA and available for both total and unicompartmental knee arthroplasty, the handheld Cori robotics platform is meant to be faster than S+N’s previous Navio system. On top of Cori, […]
Insightec wins Medicare coverage for incisionless neurosurgery platform
Insightec announced today that it has secured complete Medicare coverage across the U.S. for its MR-guided focused ultrasound treatment of medication-refractory essential tremor. The coverage comes roughly four years since the Tirat Carmel, Israel–based company won FDA approval for the technology. Insightec officials said compelling clinical evidence and support from physicians, specialty societies and patients […]
ReWalk Robotics raises $9m
ReWalk Robotics (NSDQ:RWLK) announced last week that it entered into definitive agreements to issue its ordinary shares for proceeds totaling about $9 million. The Yokneam Illit, Israel–based robotic walking assistance company issued more than 4.9 million ordinary shares at a purchase price of $1.8225 per share, while also issuing unregistered warrants to purchase up to nearly […]
TransEnterix closes $15m offering
TransEnterix (NYSE:TRXC) announced that it closed its previously announced public offering with gross proceeds totaling approximately $15 million. Research Triangle Park, N.C.-based TransEnterix last week priced the offering of nearly 37.3 million shares of common stock at a public offering price of 35¢ per share, anticipating $13 million in proceeds, before deducting underwriter discounts and commissions […]
RTI Surgical posts losses ahead of potential OEM business sale
RTI Surgical (NSDQ:RTIX) shares dipped today on first-quarter results that fell short of the consensus forecast. The Deerfield, Ill.-based company posted losses of -$17.9 million, or -24¢ per share, on sales of $73.7 million for the three months ended March 31, 2020, for a 91% bottom-line slide on sales growth of 5.3%. Adjusted to exclude one-time […]
TransEnterix prices $13m offering
TransEnterix (NYSE:TRXC) announced today that it priced its previously announced common stock offering at approximately $13 million. Research Triangle Park, N.C.-based TransEnterix is offering nearly 37.3 million shares of common stock at a public offering price of 35¢ per share to total the $13 million in proceeds, before deducting underwriter discounts and commissions and expenses payable […]
FDA clears Orthofix Firebird SI fusion system
Orthofix (NSDQ:OFIX) announced today that it received FDA 501(k) clearance for its Firebird SI 3D-printed titanium bone screw. Lewisville, Texas-based Orthofix touts its Firebird SI as the first 3D-printed titanium bone screw to launch in the U.S. for treating sacroiliac (SI) joint dysfunction. The fusion system is designed to both compress and stabilize the SI joint, […]
Perimeter Medical Imaging to go public in Toronto
Perimeter Medical Imaging — creator of AI-based medical imaging tools for cancer surgery — plans to go public on the TSX Venture Exchange in Toronto on the week of June 29. The Toronto- and Dallas-based company is going public at the same time that it enters the commercial stage for its proprietary, FDA-cleared OCT imaging […]
CEO Kevin Lobo says Stryker ready to regain lost momentum
Stryker (NYSE:SYK) CEO Kevin Lobo said today that the company is preparing to restart “a number” of idled production lines next month as it climbs out the crater created by COVID-19. In an interview on the DeviceTalks Weekly Podcast, Lobo said the company is rebounding from its low point in April, when its sales fell almost […]
Smith & Nephew launches sports medicine OR tech
Smith & Nephew (NYSE:SNN) announced today that it launched its Intellio connected tower platform to connect and control sports medicine systems. Intellio uses a centralized app to wirelessly connect and remotely control the major components of an arthroscopy surgical tower from outside the sterile field in an effort to streamline procedure support. It includes a remote […]
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