LSU Health New Orleans is Louisiana’s flagship and most comprehensive academic health sciences center, Vicarious said in a news release. The center educates the majority of Louisiana’s healthcare professionals. It partners with University Medical Center, which operates a network of more than 760 physicians.
Through the agreement, Vicarious now gains access to the LSU Health New Orleans network. The Waltham, Massachusetts-based surgical robot developer can collaborate directly with the LSU team of experienced robotic surgeons and supporting staff.
Vicarious said the partnership leverages the hospital’s extensive surgeon training expertise. It could help to validate training protocols and identify expected drivers of surgeon adoption. The partnership also offers Vicarious the opportunity to collaborate on formative studies investigating its V1.0 surgical robot.
“We’re thrilled to partner with LSU Health New Orleans as we tailor our system development and commercial launch strategies to meet the needs of individual care networks,” said Adam Sachs, CEO and co-founder of Vicarious Surgical. “As a regional provider with a prominent academic arm, LSU Health New Orleans offers unique insight into the administrative and clinical protocols associated with regional care centers of a similar profile. At the same time, their emphasis on physician training, involving learners at all levels, represents a meaningful opportunity for our team to collaborate with the next generation of surgeons and gain insight into the drivers of future system adoption.”
More about the Vicarious Surgical robot and recent events
The Vicarious Surgical robotic platform, currently called Version 1.0 (V1.0), aims to increase the efficiency of surgical procedures. The company hopes to improve patient outcomes and reduce healthcare costs. With a novel approach, V1.0 uses proprietary, human-like surgical robots to transport surgeons inside the patient to perform minimally invasive surgery.
Vicarious endured an up-and-down 2023, first sharing its intent to raise $45 million amid positive developments for its robot. The company also named former Olympus executive Randy Clark president of the company. With first-in-human trials slated for mid-2024, analysts expected commercialization to come in 2025.
However, the company started 2023 by cutting 14% of its workforce. Sachs pushed V1.0’s timeline back in November 2023 amid more workforce reductions. The company outlined plans for a build and integration in fall 2024. Then, Sachs earmarked early- to mid- 2026 for that de novo submission.
As of March 2024, Vicarious still plans to have its V1.0 system ready for an FDA submission by early- to mid-fiscal 2026. Analysts said the company expects to begin cadaveric testing in the spring ahead of final software and hardware refinements. Integration remains on track for the fall.
The company announced a 1-for-30 reverse stock split in June in an effort to increase its per share trading price, bringing it into compliance with the NYSE. Shares are currently trading at just over $6 apiece after a period of noncompliance in which Vicarious Surgical’s average closing price of Class A common stock fell below $1 per share over a consecutive 30-trading-day period.
