Scheduled from 2 p.m. to approximately 5:30 p.m. EDT, the update will include a robot-assisted surgical procedure performed in a lab to demonstrate the company’s minimally invasive therapy group’s ongoing testing and development process.
A panel of surgeons and Medtronic management will discuss the platform and respond to audience questions. The management Q&A is scheduled to begin at approximately 4:15 p.m.
Medtronic will host a live audio webcast of the update. The webcast and slides can be accessed by clicking on the Investor Events link at http://investorrelations.medtronic.com on September 24, 2019. An archived audio file will be available for replay on the same webpage later in the day and will be available for twelve months.
Medtronic’s robot-assisted surgery technology is under development and not cleared or approved in the U.S. or any market.
Medtronic has sought to give Intuitive Surgical a run for its money as the leader of the robot-assisted surgery space, but announced in early 2018 that its robot-assisted surgery effort had fallen behind schedule. The company is already active in the robot-assisted spine surgery space after its $1.7 billion purchase of Mazor Robotics in December 2018. A month later, Medtronic launched its Mazor X Stealth robotic-assisted spinal surgical platform in the U.S.
The Mazor X Stealth combines robotic guidance system technology from the Mazor acquisition with Medtronic’s StealthStation surgical navigation technology. (Dave Anderson, VP and general manager of enabling technologies at Medtronic, spoke with our sister site, Medical Design & Outsourcing, about the Mazor X Stealth in April.)
MDT shares were up 0.52% to $109.62 shortly after this morning’s opening bell.