Mazor Robotics (NSDQ:MZOR) said today that it won CE Mark approval in the European Union for its Mazor X robot-assisted surgery platform, setting the stage for strategic backer Medtronic (NYSE:MDT) to put the device on the European market. “Receipt of the CE Mark is an important step in our plan to expand the patient, surgeon and hospital benefits…
Cambridge Medical Robotics raises $26m for Versius robot-assisted surgery device
Cambridge Medical Robotics, fresh from the unveiling of its Versius robot-assisted surgical arm, said today that it added $26 million to the Series A round it plans to use on validation studies and further production. Existing backers Cambridge Innovation Capital, LGT Global Invest, Escala Capital and ABB Technology Ventures were joined by new investor Watrium…
Medtronic, Mazor Robotics close $40m round
Mazor Robotics (NSDQ:MZOR) said today that closed the third, $40 million tranche of a deal with Medtronic (NYSE:MDT), which is due to take on exclusive global distribution rights for the Mazor X robot-assisted surgery device. It’s the third investment in the Israeli surgical robotics concern for Fridley, Minn.-based Medtronic, taking its total investment to $72 million, 10.6% stake in…
Medtronic puts another $40m into Mazor Robotics
Mazor Robotics (NSDQ:MZOR) said today that it’s accelerating a deal with Medtronic (NYSE:MDT), which is due to put another $40 million into Mazor and take on exclusive global distribution rights for the Mazor X robot-assisted surgery device. It’s the third investment in the Israeli surgical robotics concern for Fridley, Minn.-based Medtronic, taking its total investment to $72 million and…
It’s in our DNA: How Intuitive Surgical CEO Guthart plans to stay on top of the surgical robotics market
Intuitive Surgical (NSDQ:ISRG) has spent more than a decade dominating the robot-assisted surgery market, and longtime CEO Gary Guthart has no plans to cede that position, he tells MassDevice.com Executive Editor Brad Perriello in this special podcast. Guthart said Sunnyvale, Calif.-based Intuitive stays focused on one criterion: “Where can we make a difference in outcomes?” Robotic surgery…
Globus Medical jumps on FDA nod for Excelsius GPS robot-assisted surgery platform
Globus Medical (NYSE:GMED) said today that it won 510(k) clearance from the FDA for its long-awaited Excelsius robot-assisted surgery platform, which is designed to integrate intra-operative CT and fluoroscopic imaging technologies. Audubon, Pa.-based Globus said the clearance covers minimally invasive and open orthopedic and neurosurgical surgeries, including screw placement in spinal and orthopedic procedures. The system won CE…
Intuitive Surgical licenses JustRight’s robotic sealing, stapling tech
Intuitive Surgical (NSDQ:ISRG) inked a license on the miniaturized robotic sealing and stapling technology developed by JustRight Surgical that includes an unspecified equity investment and joint product development program. Louisville, Colo.-based JustRight raised an $11 million Series B round early last year and later won 510(k) clearance from the FDA for its 3mm pediatric vessel-sealing system. “We…
Titan Medical closes $7m offering
Titan Medical (TSX:TMD) said today that it closed a stock offering worth about $7 million for the Sport robot-assisted surgery platform it’s developing. The round consisted of two tranches, according to Toronto-based Titan: an initial round worth $5.7 million (C$7.3 million) and a subsequent $1.3 million (C$1.7 million) tranche, for gross proceeds of roughly $7.1 million…
Johnson & Johnson CEO Gorsky: Verb Surgical robotics program ‘on track’
Johnson & Johnson (NYSE:JNJ) executives yesterday said the company is “on track” with its Verb Surgical prototype robot-assisted surgery platform, with chairman & CEO Alex Gorsky labeling the healthcare giant’s approach with Alphabet‘s (NSDQ:GOOGL) Verily Life Sciences as “computerized surgery.” “We are quite excited about our computerized surgery program. Everything up to this point in time is on track.…
Mazor Robotics gets a boost from Q2 prelims
Shares in Mazor Robotics (NSDQ:MZOR) got a boost today as investors reacted to its forecast for record second-quarter sales. Caesarea, Israel-based Mazor said it expects to post revenues of roughly $15.4 million for the 3 months ended June 30, which would be a 85.5% increase over the same period last year and 24.6% above the consensus…
Report: Intuitive Surgical won’t sell in Pakistan until da Vinci devices back on line
Intuitive Surgical (NSDQ:ISRG) is reportedly refusing to sell any more of its da Vinci robot-assisted surgery platforms in Pakistan until the two it’s already got on the market there are brought back on line. The Sindh Institute of Urology & Transplantation in Karachi asked to acquire a da Vinci system, according to The News of Pakistan,…
Titan Medical closes $6m offering
Titan Medical (TSX:TMD) said today that it raised nearly $6 million in a public offering, with company insiders putting up another $166,000. Toronto-based Titan, which is developing the Sport robot-assisted surgery platform, had said it might float up to 100 million shares, which would have fetched $11.5 million. In the event the company floated nearly 48.4 million shares…
Titan Medical looks to raise up to $12m for Sport surgical robotics platform
Titan Medical (TSX:TMD) said today that it plans to float as many as 100 million shares in a public offering that could fetch as much as $11.5 million for the Sport robot-assisted surgery platform it’s developing. The Toronto-based company said it will offer at least 46.7 million shares at 11.5¢ (C15.0¢) apiece, for minimum gross proceeds of…
Mazor Robotics reveals Israeli regulatory probe
Mazor Robotics (NSDQ:MZOR) yesterday revealed a probe by Israel’s version of the U.S. Securities & Exchange Commission, sending share prices down today in early trading. Caesarea, Israel-based Mazor said the Israeli Securities Authority searched its offices and questioned some members of management in May, “in connection with an investigation held by the ISA.” “Mazor has not been informed…
FDA deals setback to Globus Medical’s ExcelsiusGPS robot-assisted surgery platform
Globus Medical (NYSE:GMED) said yesterday that the FDA won’t accept the 510(k) clearance bid for its ExcelsiusGPS robot-assisted surgery platform, likely delaying its launch until the 3rd quarter. Globus said in a regulatory filing that the federal safety watchdog told it that the company hadn’t “sufficiently addressed the FDA’s questions” about its original clearance application. Audubon, Pa.-based Globus…
TransEnterix inks $17m term loan deal, misses consensus with Q1 earnings
TransEnterix (NYSE:TRXC) said yesterday that it took out a $17 million term loan with an affiliate of Innovatus Capital Partners that it plans to use to get its Senhance robot-assisted surgery platform past the FDA. The Research Triangle Park, N.C.-based company also posted 1st-quarter earnings that missed the consensus forecast by a penny. The 1st $14 million…
Medrobotics wins colorectal indication for Flex robot-assisted surgery system
Medrobotics said today that it won 510(k) clearance from the FDA for a colorectal procedure indication for its Flex robot-assisted surgery platform. The Raynham, Mass.-based company won expanded CE Mark approval in the European Union last October for Flex for performing colorectal procedures. The system won 510(k) clearance from the FDA for transoral procedures in July 2015 (that indication…
Titan Medical spikes talks with Chinese distributor
Titan Medical (CVE:TMD) said today that it’s spiking talks with Chinese distributor Longtai Medical over its Sport robot-assisted surgery platform so it can focus on winning regulatory approvals in the U.S. and Europe. Back in October 2015, Toronto-based Titan inked a private placement deal with Longtai, a subsidiary of Chinese medical device distributor Ningbo Long Hengtai International Trade…
Mazor Robotics slides on Q1 prelims
Share prices for Mazor Robotics (NSDQ:MZOR) slid today despite preliminary 1st-quarter sales numbers that beat expectations on Wall Street. The Caesarea, Israel-based robot-assisted surgery device maker said it expects to post sales of $11.5 million for the 3 months ended March 31, ahead of The Street’s $11.2 million forecast and up 79.7% compared with Q1 2016. Investors…
ReWalk Robotics slides on Barclays downgrade
Shares in ReWalk Robotics (NSDQ:RWLK) are off nearly 4% today after an analyst with Barclays downgraded the stock, citing “lack of tangible progress” and increased competition from other players in the robot-assisted rehabilitation market. Barclays analyst Matthew Taylor lowered the investment house’s rating on ReWalk from “equal weight” to “underweight” and cut his price target to…
Zimmer Biomet shoots for robot-assisted total knee release next year
Zimmer Biomet (NYSE:ZBH) expects to launch a robot-assisted surgery platform for total knee procedures during the 2nd half of 2018, the company said this week at the annual conference of the American Academy of Orthopedic Surgeons in San Diego. A prototype of the device, on display at the AOSS conference, is based on the Rosa technology Zimmer Biomet…
Analyst: Uptake for robotic knee procedures will depend more on marketing than evidence
The adoption of robot-assisted total knee replacements will depend more on marketing that data or outcomes, Leerink Partners analysts wrote yesterday, as the leading contenders prepare to unveil their robotic total knee systems at an upcoming orthopedics conference. Based on a conference call with a pair of orthopedic surgeons who each perform roughly 200 knee…