Titan Medical (TSX:TMD;OTC:TITFX) faced a working capital deficit of $9.7 million more than a year ago. Fast forward 12 months, and the robotic surgery company has $21.7 million in working capital and has been able to resume product development. That seems to be the big takeaway from Titan Medical’s second-quarter earnings report, released yesterday. Titan executives […]
Surgical
Vicarious Surgical raises $13.2M toward commercializing surgical robotics, VR
Vicarious Surgical Inc. last week announced that it has raised $13.2 million in funding. The Cambridge, Mass.-based company said the latest investment will help it develop and commercialize its product, which applies robotics and virtual reality to minimally invasive surgery. In 2014, Adam Sachs and Sammy Khalifa co-founded Vicarious Surgical along with Dr. Barry Greene, […]
J&J’s Ethicon touts surgical stapler study
Ethicon — part of Johnson & Johnson (NYSE:JNJ) — is highlighting new study results in which its Echelon powered stapler with gripping surface technology (GST) had a lower rate of bleeding-related complications than a competing Medtronic product. Ethicon funded the peer-reviewed study, which appears online in Medical Devices: Evidence and Research. The study compared the Echelon […]
TransEnterix losses less than expected in Q2
TransEnterix (NYSE: TRXC) reported tough but better-than-expected results for its second quarter as it navigates a challenging COVID-19 pandemic environment. The Research Triangle Park, N.C.–based robotic surgery company said yesterday evening that cost-saving initiatives and a $15 million underwritten public offering have provided enough cash to support operations into the second quarter of 2021. TransEnterix reported […]
NuVasive dips despite Street-beating Q2
NuVasive (NSDQ:NUVA) shares closed today on the downturn despite second-quarter results that beat the consensus forecast. The San Diego-based spine surgery technology developer posted losses of -$50 million, or -98¢ per share, on sales of $203.6 million for the three months ended June 30, 2020, for a bottom-line slide from profits of nearly $15 million year-over-year […]
J&J’s Ethicon wins FDA breakthrough nod for microwave ablation tech
Johnson & Johnson (NYSE:JNJ) subsidiary Ethicon announced that it received FDA breakthrough device designation for its microwave ablation technology. The transbronchial microwave ablation technology, which is currently under development, utilizes robotic-assisted bronchoscopy. Johnson & Johnson’s acquisitions of NeuWave Medical and Auris Health allowed the company to bring the robotic surgical and microwave ablation technology together to […]
Teleflex slides on revenue, profit dips in Q2
Teleflex (NYSE:TFX) shares fell today despite second-quarter results that came in well ahead of the consensus forecast. The Wayne, Pa.-based surgical and critical care device maker posted profits of $11.5 million, or 24¢ per share, on sales of $567 million for the three months ended June 28, 2020, for an 86.3% bottom-line slide on a sales […]
Smith+Nephew launches total hip arthroplasty system
Smith+Nephew (NYSE:SNN) today said it launched its RI Hip Navigation system for total hip arthroplasty. The technology is designed to maximize accuracy and reproducibility to deliver patient-specific component alignment for surgeons when assessing individual total hip arthroplasty cases. RI Hip Navigation helps surgeons take control of a patient’s pelvic tilt, leg length and offset measurement. It […]
FDA clears Palliare device to get smoke out of operating room
Palliare announced today that it received FDA 510(k) clearance for its EVA15 insufflator and smoke evacuation system for operating rooms. Galway, Ireland-based Palliare’s EVA15 is designed to meet insufflation requirements in endoscopic and robotic surgery while offering integrated surgical smoke evacuation capability, according to a news release. The insufflator filters hazardous smoke particles produced during […]
Intuitive Surgical sales down more than a fifth in Q2
Intuitive Surgical (NSDQ:ISRG) posted second-quarter results today that beat Wall Street expectations — but the results still showed how much the COVID-19 pandemic has damaged sales for surgical robotics companies. The Sunnyvale, Calif.-based robot-assisted surgery company — the dominant player in the space — reported profits of $68 million, or $0.57 per diluted share, on sales […]
NuVasive projecting losses up to $40m for Q2
NuVasive (NSDQ:NUVA) announced that it anticipates losses for the second quarter to come in around -$40 million amid the COVID-19 pandemic. The San Diego-based spine surgery technology developer said in a news release that preliminary results for the quarter, ended June 30, 2020, revealed an operating loss of between -$35 million and -$40 million on a […]