Boston Scientific (NYSE:BSX) got in on a $45 million private placement for Corindus Vascular Robotics (NYSE:CVRS) and the CorPath GRX device it’s developing for cardiac and peripheral vascular procedures. New investors BioStar Ventures, Consonance Capital and Hudson Executive Capital also participated, joining existing backers HealthCor Partners Management and Royal Philips (NYSE:PHG). “We are pleased to announce this financing and appreciate…
Medrobotics confirms $20m funding round
Medrobotics, which developed the Flex robot-assisted surgery platform, today confirmed a $20 million funding round 1st reported by MassDevice.com last month. 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…
Mazor Robotics dips despite Street-beating Q4, 2016
Mazor Robotics (NSDQ:MZOR) shares are down this morning despite the company’s report that both 4th-quarter and full-year results topped expectations on Wall Street. The Caesarea, Israel-based robot-assisted surgery company posted widened losses of -$4.2 million, or -9¢ per share, on sales of $14.0 million for the 3 months ended Dec. 31. That amounts to a 48.8% increase…
Corindus inks Japanese distribution deal for CorPath GRX
Corindus Vascular Robotics (OTC:CVRS) said today that it inked a Japanese distribution deal for its CorPath GRX device that includes a $2 million advance and provision for 12 of the robot-assisted surgery platforms. The deal with MC Healthcare subsidiary Japan Medicalnext calls for an initial order of a dozen systems within 30 days with a $2 million advance toward the…
TransEnterix touts French debut for Senhance robot-assisted surgery device
TransEnterix (NYSE:TRXC) yesterday touted the 1st clinical use in France of its Senhance robot-assisted surgery platform. The 1st French case, performed by Dr. Celine Chauleur of CHU Saint-Ètienne, was a hysterectomy to treat endometrial cancer with pelvic lymphadenectomy Feb. 7. The patient was discharged less than 24 hours after surgery, Morrisville, N.C.-based TransEnterix said. “I am very pleased…
Washington Supreme Court deals a blow to Intuitive Surgical
UPDATED Feb. 11, 2017, with comment from Intuitive Surgical. Intuitive Surgical (NSDQ:ISRG) must face another trial over whether it gave adequate warnings about using its da Vinci robot-assisted surgery platform in prostatectomies after a botched surgery in which a doctor failed to heed its warnings, the Washington Supreme Court ruled yesterday. Plaintiff Fred Taylor went in for…
Intuitive Surgical warns of risks on Obamacare repeal, NAFTA withdrawal, Brexit
Intuitive Surgical (NSDQ:ISRG) last week warned of the risks posed to its business by the geopolitical shifts of the past year, including the likely repeal of Obamacare, the U.S.’s threatened abrogation of the North American Free Trade Agreement and Great Britain’s pending exit from the European Union. Uncertainty around Obamacare repeal In its annual report filed…
Intuitive Surgical dodges class-action lawsuit over da Vinci robot-assisted surgery device
Intuitive Surgical (NSDQ:ISRG) dodged a class-action product liability lawsuit yesterday when a federal judge in Georgia dismissed the case with prejudice. Plaintiffs Gabriel Fernando Nassar Cure and Dr. Alan Kozarsky sued Intuitive in June 2016 on behalf of all mitral valve surgery patients treated using the company’s da Vinci robot-assisted surgery platform over the past 2…
Medrobotics raises $20m for Flex system
Medrobotics, which developed the Flex robot-assisted surgery platform, said in a regulatory filing today that it raised some $20 million in an equity round. 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…
Globus Medical wins CE Mark for Excelsius GPS robotic guidance device
Globus Medical (NYSE:GMED) said today that it won CE Mark approval in the European Union for the Excelsius GPS robotic guidance device it acquired 3 years ago. Audubon, Pa.-based Globus said the Excelsius GPS system is for use in both minimally invasive and open procedures for orthopedics and neurosurgery, including procedures for the spine, long bones…
Mazor Robotics gains on Street-beating Q4 outlook
Mazor Robotics (NSDQ:MZOR) said today that it expects its 4th-quarter revenues to top expectations on Wall Street, sending share prices up in mid-day trading. The Caesarea, Israel-based robot-assisted surgery company said it expects to post sales of $14 million for the 3 months ended Dec. 31, 2016, ahead of the $12.9 million forecast on The Street,…
Sofar puts another $5m into TransEnterix
TransEnterix (NYSE:TRXC) said today that Italy’s Sofar SpA agreed to buy a $5 million stake in lieu of a $10 million milestone payment as the duo amended the $100 million deal for Sofar’s Telelap ALF-X robot-assisted surgery device – now known as Senhance. In September 2015, TransEnterix bought the Senhance technology for $25 million up front and about 15.5…
Analyst: There’s a ‘mismatch’ between expectations and reality for Stryker’s Mako platform
A 51-physician Barclays survey of U.S. hip and knee surgeons today prompted analyst Matthew Taylor to question investors’ expectations for Stryker‘s (NYSE:SYK) Mako robot-assisted surgery platform. Some 22% of the docs surveyed reported using the Mako system, most for partial knee replacement procedures, with 25.5% saying they would use it more in the future, Taylor…
Titan Medical names ex-Domain Surgical chief McNally as CEO
Fresh from the sale last August of Domain Surgical to OmniGuide Surgical, former Domain Surgical CEO David McNally landed the top spot at Titan Medical (CVE:TMD), that company said today. McNally, who also founded and led Zevex International to a 2007 acquisition by Moog Inc., succeeded interim chief John Barker effective Jan. 1. Barker, who was named to replace John Hargrove last…