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 […]
Johnson & Johnson to take its time on general surgery robot
Johnson & Johnson (NYSE:JNJ) has decided not to follow a 510(k) clearance pathway for its planned general surgery robot — with a goal to start first-in-human studies with the system by the second half of 2022. That was one of the major pieces of information to come out of the New Brunswick, N.J.–based company’s quarterly earnings […]
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, […]
Origami Surgical raises $2.2m for robotic suturing tech
Origami Surgical last week filed an SEC Form D to confirm the sale of more than $2.2 million in an equity offering. The Madison, N.J.-based company, founded this year, filed a new notice for the sale of equity on March 23, 2020, with the intention of the offering lasting less than a year. According to […]
Procept Biorobotics taps industry veteran as new CEO
Procept BioRobotics recently announced that Reza Zadno, former CEO of ophthalmology tech company Avedro, has taken over the corner office at Procept. Zadno has more than three decades of leadership in the medical device industry, with a track record of successfully leading young companies to acquisitions. The latest was Avedro, which Glaukos (NYSE:GKOS) acquired for an […]
Avra Medical Robotics clears debt
Avra Medical Robotics (OTC:AVMR) announced yesterday that it paid off almost all its external corporate debt, including accrued interest. The Orlando, Fla.–based company said it cleared its debt with the exception of loans from its CEO and a loan note for $25,000, which is due on Dec. 31, 2020. One note of $25,000 is being converted […]
Titan Medical may put itself up for sale
Titan Medical (TSX:TMD) CEO David McNally told shareholders today that the company must raise $85 million to finish developing its Sport robot-assisted surgery device and file for FDA clearance. The Toronto-based medical device company is considering raising that money through equity or debt, licensing, merger or acquisition. Titan Medical lost nearly half its value in October […]
How GE Healthcare is investing in medtech innovation
GE Healthcare (NYSE:GE) appears to be taking the “throw it against the wall and see what sticks” approach when it comes to medtech innovation. GE’s Chicago-based healthcare subsidiary today announced a medtech 3D printing partnership with Formlabs (Somerville, Mass.). GE Healthcare also disclosed its participation in the recent $243 million Series C round of robot-assisted surgery […]
7 companies using robot-assisted surgery to transform orthopedics
It seems as if every orthopedic device company is getting involved in robot-assisted surgery — rolling out robots to assist surgeons operating on the knee, hip, shoulder or spine. Two events in recent years especially signaled that robots were coming into their own in the space: Stryker spent $1.7 billion for Mako Surgical in order […]
Robot-assisted surgery matters for contract manufacturers
Robot-assisted surgery is a game changer, not only for orthopedic device companies but the contract manufacturers serving them. For major supplier Tecomet, it means forging relationships earlier, sometimes tighter instrument tolerances — and much more. It makes sense that Tecomet officials would see the rise of robot-assisted surgery in the ortho space as a big […]
Intuitive Surgical wins FDA clearance for robotic-assisted lung biopsy system
Intuitive Surgical (NSDQ:ISRG) said today that FDA has cleared its Ion system — a robotic-assisted, catheter-based platform meant to enable minimally invasive biopsy deep within the lung. Sunnyvale, Calif.–based Intuitive plans to start selling the Ion system in the U.S. in a measured fashion; it’ll start shipping to customers in coming months. The Ion system includes an […]
