Titan Medical (TSXV: TMD) won U.S. Patent No. 8,306,656, which covers the company's robotic system for performing medical procedures.
The description of Titan’s patent in their application reads, as reported by Proactive Investors:
“The present application describes a method and system for performing medical procedures. The system includes a robotic arm assembly, an end effector assembly and a set of transducers. The system further includes a cable element that is used to control the movement of the robotic arm assembly and the end effector assembly. The cable element is also connected to the set of transducers, which measure the force imparted on the robotic arm assembly and the end effector assembly during the medical procedures”.
So far, Titan has won 5 patents and has filed 12 in the U.S. The Toronto-based company focuses exclusively on surgical robotics.....read more
Hansen Medical rises on new patent license deal
October 31, 2012
NEW YORK — Shares of Hansen Medical Inc. jumped Wednesday after the company said it expanded a patent license agreement with Intuitive Surgical Inc., a fellow robotic surgical device company.
THE SPARK: The Mountain View, Calif., company said Intuitive Surgical bought 5.3 million shares of Hansen stock for $10 million, and agreed to pay $20 million to get an extended license to patents owned by Hansen. Intuitive bought the stock for $1.89 per share, a 4.4 premium to their closing price on Friday — the last day of trading before "superstorm" Sandy shut down the markets on Monday and Tuesday.
The deal will give Intuitive patents relating to "certain non-vascular approaches," or procedures that don't go through blood vessels.
THE BIG PICTURE: Hansen makes products that use robotics to manipulate and control catheters. Its Sensei robotic system was approved in 2007 and the company is seeking approval to market a newer system called Magellan. European Union regulators cleared Magellan in 2011. Intuitive Surgical, of Sunnyvale, Calif., makes the da Vinci robotic surgery system, which is used in prostate, gynecology, urology, and other types of surgical procedures.
Hansen said it is focusing on intravascular robotics, and the capital from the deal will help support the launch of Magellan.....read more
Intuitive Surgical Announces Third Quarter Earnings
October 16, 2012
Intuitive Surgical, Inc. (Nasdaq:ISRG), the industry leader in surgical robotics, today reported third quarter of 2012 revenue of $538 million, up approximately 20% compared with $447 million for the third quarter of 2011. Third quarter of 2012 revenue growth was driven by continued adoption of da Vinci surgery procedures and higher da Vinci Surgical System sales.
Third quarter of 2012 instruments and accessories revenue was $218 million
Third quarter of 2012 systems revenue was $232 million
Third quarter of 2012 operating income increased to $211 million
Third quarter of 2012 net income was $183 million, or $4.46 per diluted share.
Intuitive ended the third quarter of 2012 with $2.7 billion in cash, cash equivalents and investments.
Research and Markets: Robotic Surgery Market Report - 2012 Edition
September 5, 2012
DUBLIN — Research and Markets has announced the addition of the "Robotic Surgery Market Report - 2012 Edition" report to their offering.
The report analyzes the robotic surgery market. It discusses the market opportunities in various segments, like prostatectomy, hysterectomy and orthopedics. The report also profiles the major players in robotic surgery systems, with a discussion of their business strategies.
Hansen Medical Inc. (HNSN) manufactures catheter based medical robots. Its stock price is in a major slump right now, opening Tuesday at $1.48, versus a fifty-two week high of $4.46 on September 20, 2011 and near its 52 week low of $1.42. Is this a buying opportunity, or a stock to be avoided even at this price?
For several years Hansen has marketed its Sensei robot for electrophysiology procedures, which measures electrical activity inside the heart. Meanwhile it has developed its robotic catheter technology for use in vascular (blood vessel) surgery. Last year its Magellan vascular robotic catheter system was approved in Europe. Late in Q2 this year the FDA granted approval for commercial sales in the U.S. Given that Magellan is believed to have an addressable market roughly ten times the size of Sensei, you might think the bulls would be running with the anticipation of future profits.....read more
Intuitive Surgical balances risk with potential long-term reward
September 2, 2012
Consider Intuitive Surgical (Nasdaq: ISRG) for your portfolio. It carries more risk than many companies, but it offers more potential reward as well. The company is the biggest player in the robotic surgical equipment arena, selling hospitals its “da Vinci” machines that permit surgeons to perform procedures in less invasive ways.
In the company’s last quarter, revenue was up 26 percent over year-ago levels and earnings grew by 32 percent. The company has no debt and generates solid cash flow. Better still, the company doesn’t make money only by selling its million-dollar machines – a little more than half its revenue is recurring, from service contracts and supplies and accessories for the machines......read more
Robotic Surgery Company Secures Funding
August 15, 2012
Medrobotics Corp to Receive $8 Million
Medrobotics Corp., which manufactures robotics for use in surgical settings, has secured funding for a Series D round. Of a larger $20 million offering, this round comprises equity, warrants, and other options collectively amounting to $8 million, and 18 investors are involved, according to Mass High Tech.
Back in August 2009, Medrobotics had their Series A round, which garnered $11.6 million, with Eagle Ventures leading the way. In November, Series C funding led to $11.7 million, spread over current shareholders, several angel investors, and the Pittsburgh Life Sciences Greenhouse. Finally, in December, the company netted another $6.4 million in funding.
Medrobotics was founded in 2005 and created the CardioARM, a remote-controlled robotic probe. The probe is capable of full movement in 3-D space without any structural support.....read more
Mazor Robotics Enters into Agreement with Investors to Receive up to $15 Million
August 12, 2012
Transaction Led by Oracle Investment Management Mazor to Announce Second Quarter Financial Results and Hold Conference Call on August 14, 2012, 11:00 AM ET
Mazor Robotics Ltd. (TASE: MZOR), a developer of innovative surgical robots and complementary products, today announced that it has entered into an agreement regarding a private equity placement transaction of up to $15 million, to provide further investment capital and advance the Company’s efforts to implement an American Depository Receipt (ADR) program on a U.S. stock exchange.
Under the structure of the transaction, the aggregate investment amount will be up to $15 million invested in two tranches of $7.5 million each and divided among a group of institutional and accredited investors in varying percentages. The investment group is led by Oracle Investment Management, which was founded by Larry Feinberg.....read more
Intuitive Surgical Reports New Employee Option Grants for August, 2012
August 10, 2012
Intuitive Surgical, Inc. (Nasdaq:ISRG) today reported that equity awards approved by the Compensation Committee of the Board of Directors, which consists entirely of Independent Directors, were made to 44 new employees.
Pursuant to NASDAQ Marketplace Rule 5635(c)(4), the equity awards were granted under the Intuitive Surgical, Inc. 2009 Commencement Incentive Plan, which the Board of Directors of Intuitive Surgical, Inc. adopted for the granting of equity awards to new employees. In accordance with NASDAQ rules, these grants were made under an equity incentive plan without shareholder approval.
NASDAQ rules require a public announcement of equity awards to be made under this type of plan. 44 employees were granted options to purchase an aggregate of 21,165 shares of the Company's common stock. The options vest over four years and expire in 10 years assuming continued employment. No officers received any award under this plan.
The exercise price for the option shares granted is $496.76, which was the closing price of Intuitive Surgical, Inc.'s common stock on the NASDAQ Global Market as such price was reported by NASDAQ on August 7, 2012. The Company's policy is to issue stock option grants to new employees on the fifth business day of every calendar month. This announcement complies with the applicable NASDAQ rule requiring disclosure of such an inducement grant.
Mazor Robotics Reschedules Date of Second Quarter 2012 Filing of Financial Results
August 8, 2012
Mazor Robotics Ltd. (TASE: MZOR, NASDAQ: MZRTF), a developer of innovative surgical robots and complementary products, announced today that it anticipates filing its financial statements for the second quarter and six-months ended June 30, 2012 with the Tel Aviv Stock Exchange during the week of August 13, 2012.
Immediately following the filing, the Company will hold a conference call with the U.S. investment community to discuss the financial results.
Mazor originally announced that the results and conference call would be held on August 8, 2012 at 10:00 AM ET.
MAKO Surgical Corp. Schedules Second Quarter 2012 Earnings Release and Conference Call
July 23, 2012
MAKO Surgical Corp. (MAKO) announced today that it plans to release second quarter 2012 financial results after market close on Wednesday, August 1, 2012. Maurice R. Ferre, M.D., President and Chief Executive Officer, and Fritz L. LaPorte, Senior Vice President and Chief Financial Officer of MAKO, will host a conference call to review the second quarter 2012 results starting at 4:30 pm ET on the same day. The call will be concurrently webcast.
To listen to the conference call please dial 877-843-0414for domestic callers or 914-495-8580for international callers and enter the passcode 13992893, approximately ten minutes prior to the start time.
To access the live audio broadcast or the subsequent archived recording, visit the Investor Relations section of MAKO's website at www.makosurgical.com. Following the call, a webcast replay will be available on MAKO's website, and an audio replay will also be available by calling 855-859-2056(404-537-3406for international callers) and entering the passcode 13992893.
Both the audio and webcast replays will be available through August 8, 2012.
Analysts wonder if worries over miss in procedure growth overblown
LOS ANGELES (MarketWatch) — Shares of Intuitive Surgical Inc. tumbled by more than 8% Friday, amid concerns about a slowdown in procedures for the maker of robotic surgical devices.
Intuitive Surgical(ISRG) posted second-quarter earnings in which the company grew profits by nearly a third and beat estimates, but shares ended the day down $45.71 to $498.50.
Analysts said the 26% growth in the number of procedures using the company’s devices was lighter than expected. There was a lower utilization in Europe and strong concerns that some procedures are up against changes in patient management, J.T. Haresco, analyst for JMP Research, said in a note to clients.....read more
Titan Medical Inc. Announces Issuance of U.S. Patent
July 18, 2012
Titan Medical Inc.(TITXF) announced today that the United States Patent and Trademark Office (USPTO) has issued U.S. Patent No. 8,224,485 titled "Snaking Robotic Arm with Movable Shapers". The patented technology includes the use of micro-electro-mechanical systems (MEMS) in flexible snake-like robotic arms that may be utilized in surgical robotic applications.
"This patent issuance is an important addition to Titan Medical's growing patent portfolio and strengthens our efforts in advancing next generation surgical robotic technologies," said Craig Leon, Chief Executive Officer of Titan Medical Inc. The Company continues to expand its patent portfolio by filing patent applications with various patent offices as new technologies pertaining to surgical systems are developed and refined.....read more
Cramer's Mad Money - Mako, Intuitive Surgical And The Battle Of The Robots
July 12, 2012
Stocks discussed on the in-depth session of Jim Cramer's Mad Money TV Program, Thursday July 12
Mako Surgical (MAKO) has been hit hard recently after cutting its full year guidance. The stock fell 10 points, and lost 43% of its value. Intuitive Surgical (ISRG) saw a 20 point decline on bad news from its competitor in the robotic surgery space, Mako, but did ISRG deserve to be punished? Cramer thinks Mako's problems are because of Mako. He recommended selling the stock in late May while analysts were still bullish. Mako's problem is that it has been a momentum stock that has run into headwinds. ISRG is a well-established company, its Da Vinci machine is well-loved by doctors, and it has strong fundamentals. ISRG blew away its last quarter with a 35 cent earnings beat and a 27.6% climb in revenues. Cramer does not think ISRG should be guilty by association, and sees the recent decline as a buying opportunity.....read more
Intuitive Surgical, Inc. Second Quarter 2012 Earnings Conference Call
Posted: June 26, 2012. source: marketwatch.com
Intuitive Surgical, Inc. ISRG, the leader in operative surgical robotics, will hold its quarterly conference call to discuss Second Quarter 2012 results, Thursday, July 19, at 4:30 p.m. Eastern Time.
This call is being webcast by Thomson Reuters and can be accessed at Intuitive Surgical's web site at www.intuitivesurgical.com
Dial-in Numbers:800-230-1096 or 612-288-0337. No passcode required.
The webcast is also being distributed over Thomson Reuters' Investor Distribution Network to both institutional and individual investors. Individual investors can listen to the call through Thomson Reuters' individual investor center at www.earnings.com or by visiting any of the investor sites in Thomson Reuters' Individual Investor Network. Institutional investors can access the call via Thomson Reuters' password-protected event management site, StreetEvents (www.streetevents.com).
Saxena White P.A. Files Securities Fraud Class Action Against MAKO Surgical Corp.
BOCA RATON, FL -- (Marketwire) -- 06/08/12
Saxena White P.A. has filed a class action lawsuit in the United States District Court for Southern District of Florida on behalf of all investors who purchased MAKO Surgical Corp. ("MAKO" or the "Company") (NASDAQ: MAKO) common stock during the period between January 9, 2012 and May 7, 2012.
MAKO is a medical device company that primarily markets the RIO Robotic Arm Interactive Orthopedic system and MAKOplasty applications (collectively, the "RIO system") for minimally invasive orthopedic procedures. The Complaint alleges that the defendants misrepresented or failed to disclose that: (a) the Company was poised to suffer a larger first-quarter loss due to higher costs and slower sales of its RIO systems; (b) utilization rates were declining for the Company's RIO systems; (c) the Company's 2012 outlook, provided at the start of the Class Period, lacked a reasonable basis when made; and (d), based on the foregoing, defendants' positive statements about the Company or its outlook lacked a reasonable basis.
You may obtain a copy of the complaint and join the class action at www.saxenawhite.com. If you purchased MAKO stock between January 9, 2012 and May 7, 2012, inclusive, you may contact Joe White or Marc Grobler at Saxena White P.A. to discuss your rights and interests....read more
Hansen Medical Receives FDA 510(k) Clearance for Its Magellan(TM) Robotic System for Peripheral Vascular Interventions
June 4, 2012
Company to Commence Initial Commercial Launch in the United States Immediately; Hansen Medical to Host Conference Call Today at 2:00 PM PT
Hansen Medical, Inc. (HNSN), a global leader in intravascular robotics and the developer of robotic technology for accurate 3D control of catheter movement, today announced that it has received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for its Magellan(TM) Robotic System, including the catheter and accessories. The Company will commence commercialization at selected centers in the U.S. immediately, with a full launch expected later in the year. The product will be presented at the 66th Vascular Annual Meeting of the Society for Vascular Surgery at National Harbor, Maryland from June 7-9.
The Magellan Robotic System is intended to facilitate navigation to anatomical targets in the peripheral vasculature and subsequently provide a conduit for manual placement of therapeutic devices. The System has the potential to provide vascular surgeons and other interventionalists the ability to perform fast and predictable procedures, while allowing the physician to be seated comfortably away from the radiation source, which may reduce radiation exposure and physician fatigue.....read more
Top High Growth Undervalued Medical Systems And Software Stocks Accumulated By Mega Funds
Intuitive Surgical Inc. (ISRG), a pioneer in the field of surgical robotics, is the developer of the da Vinci Surgical System designed to aid surgeons in conducting minimally-invasive surgery by offering surgeons superior 3D HD visualization, enhanced dexterity, and greater precision and ergonomic comfort. A total of 29 mega funds hold 38.7% of the outstanding shares, with twenty funds buying and seven selling during the quarter. Also, together mega funds added a net $233 million in Q4 to their $8.28 billion prior quarter position in the company. The top buyer was mutual fund powerhouse Fidelity Investments ($269 million), and the top holder was Los Angeles based Capital World Investors, with over $262 billion in 13-F assets ($1.72 billion).
ISRG has been one of the best long-term performers among mid- and large-cap stocks in the healthcare space, up to about six-fold from the 2008/09 lows and up over 25-fold in the last seven-plus years. Its shares continue to be in new high territory, up about 21% YTD, and trading at 32-33 forward P/E and 7.6 P/B compared to averages of 36.3 and 11.8 for its peers in the medical instruments group, while earnings growth is expected to continue to be stellar, rising from $12.32 in 2011 to $17.36 in 2013 at an annual rate of 18.7%.
Izard Nobel LLP Announces Class Action Lawsuit Against MAKO Surgical Corporation.
May 11, 2012
WEST HARTFORD, CT -- (Marketwire) The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Southern District of Florida on behalf of purchasers of the common stock of Mako Surgical Corporation ("MAKO" or the "Company") (NASDAQ: MAKO) between January 9, 2012 and May 7, 2012, inclusive (the "Class Period").
The Complaint alleges that MAKO, a medical device company that markets its advanced robotic arm solution and orthopedic implants for orthopedic procedures, and certain of its officers and directors violated the federal securities laws. Specifically, the Complaint alleges that defendants failed to disclose the following adverse facts: (I) MAKO was poised to suffer a wider first quarter loss as it was experiencing higher costs and slower sales of its RIO systems; (II) utilization rates of the Company's RIO systems were dropping; (III) that the Company's 2012 outlook provided at the start of the Class Period lacked a reasonable basis when made; and (IV) that defendants lacked a reasonable basis for their positive statements about MAKO or its outlook.....read more
Zacks Equity Research highlights Intuitive Surgical, Inc. as the Bull of the Day.
We upgrade our rating for Intuitive Surgical, Inc. (Nasdaq: ISRG) to Outperform. First quarter earnings per share of $3.50 beat the Zacks Consensus Estimate. Gynecology and prostatectomy procedures did well in 2011, as did certain emerging procedures.
Recurring revenue continues to grow as a proportion of sales. In the interim, the installed base of Intuitive is expanding as more hospitals feel compelled to upgrade their technology. Overall, a proper valuation is appropriate given positive factors such as Intuitive's leading position in robotic surgery, a growing list of emerging procedures, barriers to entry, sizeable cash balance and no debt.
We like the company's da Vinci system, particularly its unique status as an enabler of robotic, minimally invasive surgery. Our target price of $701 is based on a P/E of 48.2x our fiscal 2012 EPS estimate.
Intuitive Surgical and MAKO Surgical Face New Medical Device Tax in 2013
April 19, 2012
The Paragon Report Provides Stock Research on Intuitive Surgical, Inc. and MAKO Surgical Corp.
The aging U.S. population has been one of the driving factors for demand in the Medical Device Industry, as health issues that require medical devices are more common with the elderly. The nation's population of those 65 and older will double between 2000 and 2030, according to the federal Administration on Aging. Despite rapidly growing demand, revenues for the Industry are expected to take a major blow in the coming years.
The Paragon Report examines investing opportunities in the Medical Devices Industry and provides equity research on Intuitive Surgical, Inc. (ISRG) and MAKO Surgical Corp. (MAKO)
The Patient Protection and Affordable Care Act (PPACA) will place a new 2.3 percent tax on the sales of medical devices in the U.S. starting in 2013. The device excise tax is charged on revenues of the devices not profits. Add this on top of existing federal, state, and local taxes companies in 2013 are looking to pay approximately 50 percent for every dollar earned in 2013. As a result we are already seeing companies downsizing their workforce, and eliminating investment in new facilities in the U.S.....read more
Intuitive Surgical climbs following 1Q results
April 18, 2012
Shares of robotic surgical device maker Intuitive Surgical Inc. (NASDAQ: ISRG), continued to climb Wednesday after the company posted strong first-quarter results and raised its expectations for the rest of 2012.
Intuitive Surgical posted its quarterly results after the market closed on Tuesday. The company's profit and revenue both surpassed Wall Street estimates as more procedures were performed with its da Vinci surgery system. Sales of the system increased, and Intuitive said it benefited from a lower tax rate than it had expected.
Intuitive Surgical shares rose $45.71, or 8.4 percent, to $591.24 in afternoon trading. Earlier the stock reached an all-time high of $594.89. Shares of Intuitive Surgical are up 42.5 percent over the last six months dating back to the company's third-quarter report.....complete story
MAKO Surgical Corp. Schedules First Quarter 2012 Earnings Release and Conference Call for Monday, May 7, 2012
Posted: April 18, 2012
MAKO Surgical Corp. MAKO +4.37% announced today that it plans to release first quarter 2012 financial results after market close on Monday, May 7, 2012. Maurice R. Ferre, M.D., President and Chief Executive Officer, and Fritz L. LaPorte, Senior Vice President and Chief Financial Officer of MAKO, will host a conference call to review the first quarter 2012 results starting at 4:30 pm ET on the same day.
The call will be concurrently webcast.
To listen to the conference call please dial 877-843-0414 for domestic callers or 914-495-8580 for international callers and enter the passcode 73226469, approximately ten minutes prior to the start time.
To access the live audio broadcast or the subsequent archived recording, visit the Investor Relations section of MAKO's website at www.makosurgical.com.
Following the call, a webcast replay will be available on MAKO's website, and an audio replay will also be available by calling 855-859-2056 (404-537-3406 for international callers) and entering the passcode 73226469.
Both the audio and webcast replays will be available through May 14, 2012.
Intuitive Surgical, Inc. First Quarter, 2012 Earnings Conference Call Posted: April 6, 2012 Intuitive Surgical, Inc. (NASDAQ: ISRG), the leader in operative surgical robotics, will hold its quarterly conference call to discuss First Quarter 2012 results, Tuesday, April 17, at 4:30 p.m. Eastern Time. Dial-in numbers: United States: (800) 230-1059 International: (612) 234-9959 This call is being webcast by Thomson Reuters and can be accessed at Intuitive Surgical’s web site at www.intuitivesurgical.com The webcast is also being distributed over Thomson Reuters’ Investor Distribution Network to both institutional and individual investors. Individual investors can listen to the call through Thomson Reuters’ individual investor center at www.earnings.com or by visiting any of the investor sites in Thomson Reuters’ Individual Investor Network. Institutional investors can access the call via Thomson Reuters’ password-protected event management site, StreetEvents ( www.streetevents.com).
NOVADAQ Announces Pricing of $35.1 Million Offering of Common Shares
April 3, 2012
Novadaq(R) Technologies Inc. ("Novadaq" or the "Company") CA:NDQ -1.27% NVDQ +0.24% , a developer of real-time medical imaging systems for use in the operating room, today announced that it has priced an underwritten public offering of 6,100,000 newly issued common shares at a public offering price of US$5.75 per share.
The gross proceeds to Novadaq, before underwriting commissions and other offering expenses are expected to be approximately US$35.1 million. Novadaq has granted the underwriters of the offering an option to purchase an additional 915,000 common shares at the public offering price during the period ending 30 days from the date of Novadaq's final prospectus supplement filed in connection with the offering to cover over-allotments, if any.....read more
HeartWare International Expands Intellectual Property and Technology Portfolio Through Definitive Agreement to Acquire World Heart Corporation for US$8 Million
March 29, 2012
/PRNewswire/ -- HeartWare International, Inc. (NASDAQ: HTWR, ASX: HIN), which develops and manufactures miniaturized ventricular assist devices, and World Heart Corporation (NASDAQ: WHRT), which has been engaged in the development of left ventricular assist devices, announced today that they have entered into a definitive merger agreement under which HeartWare will acquire WorldHeart for consideration of US$8 million, which will be paid in shares of HeartWare common stock or cash, at HeartWare's election.
Under the merger agreement, each share of WorldHeart common stock will either be converted into the right to receive the number of shares of HeartWare common stock equal to the quotient determined by dividing per share merger consideration by the average of the per share closing prices of HeartWare common stock on NASDAQ during the ten consecutive trading days ending on (and including) the trading day that is one calendar day prior to the date of the closing of the transaction or cash equal to the per share merger consideration at HeartWare's election. The per share merger consideration will be determined by dividing $8 million by the number of shares of WorldHeart common stock outstanding on a fully diluted basis (excluding out of the money options and warrants and warrants subject to a put right), or approximately $0.29 per share at today's fully diluted WorldHeart common stock outstanding. The boards of directors of both companies have approved the transaction. The transaction is subject to the approval of WorldHeart's stockholders and satisfaction of other customary closing conditions. HeartWare stockholder approval is not required.....read more
Mazor Robotics to Announce Fourth Quarter and Full Year 2011 Financial Results and Conduct Conference Call
Mazor Robotics Ltd. (tase:MZOR), a developer of innovative surgical robots and complementary products, today announced that the company will host conference calls on Wednesday, March 28, 2012 to discuss fourth quarter and full year 2011 financial results ended December 31, 2011.
The company will host a conference call in English at 10:30 am ET on Wednesday, March 28, 2012.
To participate in this teleconference, please dial 877-941-9205 fifteen minutes before the conference is scheduled to begin. Callers outside of the U.S. should dial 480-629-9818 The call will also be webcast live at http://www.mazorrobotics.com
A replay of the call will be available for two weeks after the live call on the company's website, or by dialing 800-406-7325 Callers outside of the U.S. should dial 303-590-3030 The replay participant code is 4526848.
Mazor Robotics Signs Agreement with Distributor for China
March 12, 2012
Agreement Includes Commitment to Purchase Three Renaissance Systems
CAESAREA, Israel, Mar 12, 2012 (BUSINESS WIRE) -- --Distributor Responsible for Securing Regulatory Clearance in China
Mazor Robotics Ltd (tase:MZOR), the leader in innovative surgical robots and complementary products for spine surgery, signed an agreement with Cicel Science & Technology Co., Ltd. to distribute its Renaissance(TM) system in China. Renaissance is Mazor Robotics' next generation surgical guidance system for spine procedures.
As part of the agreement, Cicel is committed to purchasing three Renaissance systems. Cicel will use these systems to pursue regulatory clearance for Renaissance from the State Food and Drug Administration (SFDA) in China and to establish marketing activities in China. Cicel will be responsible for securing the necessary regulatory clearance, which Mazor expects will take two years. Cicel will have exclusive rights to market and distribute the system in China for three years following the receipt of SFDA clearance. Mazor has received a first installment on account of the total consideration for the systems from Cicel. The delivery of the three Renaissance systems is subject to fulfillment of preset conditions....read more
Intuitive Surgical Reports New Employee Option Grants for February, 2012
Intuitive Surgical, Inc. ISRGtoday reported that equity awards approved by the Compensation Committee of the Board of Directors, which consists entirely of Independent Directors, were made to 59 new employees.
Pursuant to NASDAQ Marketplace Rule 5635(c)(4), the equity awards were granted under the Intuitive Surgical, Inc. 2009 Commencement Incentive Plan, which the Board of Directors of Intuitive Surgical, Inc. adopted for the granting of equity awards to new employees.
In accordance with NASDAQ rules, these grants were made under an equity incentive plan without shareholder approval. NASDAQ rules require a public announcement of equity awards to be made under this type of plan.
59 employees were granted options to purchase an aggregate of 20,758 shares of the Company's common stock. The options vest over four years and expire in 10 years assuming continued employment. No officers received any award under this plan.
The exercise price for the option shares granted is $508.25, which was the closing price of Intuitive Surgical, Inc.'s common stock on the NASDAQ Global Market as such price was reported by NASDAQ on March 7, 2012.
The Company's policy is to issue stock option grants to new employees on the fifth business day of every calendar month. This announcement complies with the applicable NASDAQ rule requiring disclosure of such an inducement grant.
MAKO Surgical Corp. Reports Operating Results for the Fourth Quarter and Full Year 2011
March 6, 2012
Fourth quarter revenue totaled $32.9 million, a 122% increase over the same period in 2010.
Full year 2011revenue totaled $84.5 million, a 91% increase over 2010.
Eighteen RIO(R) systems sold in the fourth quarter, increasing worldwide commercial installed base to 113 RIO systems and domestic commercial installed base to 111 RIO systems.
A total of48 RIO systems sold worldwide in 2011, a 45% increase over 2010
2,258 MAKOplasty(R) procedures performed in the fourth quarter, a 97% increase over the same period in 2010.
6,932 MAKOplasty procedures performed in 2011, a 99% increase over the same period in 2010.
37 MAKOplasty Total Hip Arthroplasty (THA) applications sold in the fourth quarter.
Total of49 MAKOplasty THA applications sold in 2011, resulting in 44% of domestic commercial installed base having the MAKOplasty THA application at year end.
Houston Medical Robotics, Inc. Receives FDA 510(k) Clearance for Euclid™ Tier 1 Mini Access System
March 5, 2012
HOUSTON/PRNewswire/ -- Houston Medical Robotics, Inc. announces that it has received U.S. Food and Drug Administration 510(k) clearance to market the Euclid™ Tier 1 Mini Access System. The Euclid™ Tier 1 Mini Access System is a portable, hand-held device that integrates commercially available ultrasound imaging systems to facilitate placement of a needle and guidewire into a targeted anatomical location for a variety of therapeutics applications.
"Although numerous applications have been identified, our initial target for the Euclid™ Tier 1 Mini Access System is reducing complications associated with central venous catheter (CVC) placement," stated Jeffery J. Sheldon, Houston Medical Robotics, Inc. Chairman & CEO. "With over 5 million CVCs placed each year - and published complication rates are as high as 26% - we are poised to make a significant impact on healthcare outcomes," stated Mr. Sheldon.
Technology limitations, inadequate procedure training & exposure, and varying patient size & morphology have all been identified as co-contributors to the high CVC placement complication rates. Use of ultrasound imaging during procedures has been shown to reduce complications; however, the procedure is cumbersome and generally requires additional assistance.
"The Euclid™ Tier 1 Mini Access System places all the necessary tools and consumables readily at hand for single-operator safe, effective, rapid, and cost-effective access," stated Mr. Sheldon.
NEW YORK, Feb. 24, 2012 /PRNewswire via COMTEX/ -- OTC Markets Group Inc. (otcqx:OTCM), the company that operates the world's largest electronic marketplace for OTC-traded equities, announced that Titan Medical Inc. (otcqx:TITXF)(tsx.v:TMD), a company focused on the development and commercialization of robotic surgical technologies, is now trading on the highest tier of the OTC market, OTCQX®.
Titan Medical began trading today on the OTC market's prestigious tier, OTCQX International. Investors can find current financial disclosures and Real-Time Level 2 quotes for the Company on www.otcmarkets.com .
"The OTCQX platform supports a transparent marketplace with high quality issuers, financial information disclosure and efficient trading for U.S. investors," said R. Cromwell Coulson, President and Chief Executive Officer of OTC Markets Group. "We are pleased to welcome Titan Medical to OTCQX."
Dorsey & Whitney LLP will serve as Titan Medical's Principal American Liaison ("PAL") on OTCQX, responsible for providing guidance on OTCQX requirements and U.S. securities laws....read more
MDA to develop advanced technology solutions for paediatric surgery
February 20, 2012
Richmond, B.C. - MacDonald, Dettwiler and Associates Ltd. (TSX: MDA), a provider of essential information solutions, announced today that it has signed a Master Research Collaboration Agreement with the Children's National Medical Center (Children's National) in Washington, D.C. Through this collaborative partnership, MDA and Children's National will develop advanced medical robotics and "smart tools" to improve the quality of patient outcomes for children's surgeries. The initial phase is valued at US$2.7 million.
The Sheikh Zayed Institute for Pediatric Surgical Innovation at Children's National builds partnerships, such as this one with MDA, that will truly shift the paradigm of pediatric surgery,' said Peter Kim, Vice President of the Sheikh Zayed Institute and Associate Surgeon in Chief at Children's National. 'The tools and robotics we conceive together moving forward will represent the first generation technology specifically to focus on precision in children's surgery.'.....read more
Teleflex Incorporated Signs Agreements with Premier Healthcare Alliance
February 20, 2012
LIMERICK, Pa.--(BUSINESS WIRE)--Teleflex Incorporated (NYSE:TFX), a leading global provider of medical devices for critical care and surgery, has announced three new group purchasing agreements with the Premier healthcare alliance. The new agreements cover Teleflex Incorporated's Weck® brand of Ligation and Stapling products, Deknatel® brand of Cardiovascular Suture and Taut® brand of Laparoscopic Access Ports. The agreements begin April 1, 2012 and extends through March 31, 2015.
For nearly 50 years, surgeons have relied on Weck ligation systems to provide high quality clips for every surgical need. The ligating clip and applier combination is designed to work together; the applier specifically and meticulously designed to apply a specific clip in a precise manner to provide secure, reliable ligation of vessels in critical surgeries. Weck metal clips are made with heart-shaped wire and engineered to give each clip a firm grip on blood vessels. The pre-formed clip allows for precise tip-to-tip closure to fully engulf the vessel.
Titan Medical Inc. Enters Into Exclusive License Agreement with Columbia University for Novel Single Port Robotic Surgery System February 15, 2012
Titan Medical Inc. ("the Company") announced today that it has entered into an exclusive license agreement with Columbia University for a novel single port robotic surgery system, The Insertable Robotic Effector Platform ("IREP"). Under the terms of the agreement, the Company will have exclusive rights to the development and commercialization of the intellectual property of IREP, developed by Dr. Nabil Simaan. IREP is believed to be the world's smallest, in terms of required diameter, to enter the body while enabling full manipulation capabilities and imaging feedback. It consists of a novel endoscope and two flexible arms, all contained within one lumen, that is meant to be used to perform single port surgery in a variety of areas, such as single port gallbladder surgery, trans-vaginal access, trans-oral access, and trans-anal access.....read more
Novadaq to Release Fiscal 2011 Year-End and Q4-2011 Financial Results on February 16-Conference Call to Follow February 2, 2012
Novadaq(R) Technologies Inc. CA:NDQ , a developer of real-time imaging systems for use in the operating room, will announce its fiscal 2011 year-end and fourth quarter 2011 financial results prior to the market opening on Thursday, February 16, 2012.
Novadaq is pleased to invite all interested parties to participate in a conference call on February 16, at 8:30 a.m. Eastern Time during which the results will be discussed.
Those wishing to access the live conference call by telephone should dial 1-877-407-8031 (within Canada and the United States) or 1-201-689-8031 (international callers) several minutes prior to the beginning of the call.
A telephonic replay of the conference call will be made available until midnight on March 16, 2012 and can be accessed by dialing 1-877-660-6853 (within Canada and the United States) or 1-201-612-7415 (international callers) and entering the account number 286 and the conference identification number 388170 when prompted.
The call will be archived for 90 days on the Company's website at http://www.novadaq.com under the "Events" tab in the Investors section. In addition, a replay of the call will be available for download to a portable audio player or computer, as an MP3 or podcast file, at the same location on Novadaq's website.....read more
Stratos Product Development Lends Critical Design Expertise to Mimic Technologies' dV-Trainer Surgical Training Device
January 31, 2012
Stratos Product Development LLC today announced its partnership with Mimic Technologies to advance the current design of the Mimic dV-Trainer, an independently validated, highly realistic simulation system for the da Vinci robot that improves patient safety and allows for surgical training, saving operating room time and reducing operational costs.
Stratos is developing an updated version of Mimic's dV-Trainer that involves creating a new 3D stereoscope and updating the existing hardware architecture so that the system will be more robust during manufacturing, service and operation. The solution will include miniaturized connectors, a custom fine-gauge cabling solution and reversible parts to minimize overall part count for the pair of gimbals contained in each system. Additionally, Stratos is working with Mimic to redesign the grip with a similar cabling solution to create additional features that improve the overall use of the grip....read more
NEW YORK (TheStreet) -- Shares of Intuitive Surgical (ISRG) fell in late trades on Thursday despite another above-consensus quarterly profit from the high-flying maker of robotic surgery equipment.
Intuitive Surgical has now beaten Wall Street's earnings per share view in nine straight quarters, according to Thomson Reuters data. For the three months ended Dec. 31, the Sunnyvale, Calif.-based company earned $151 million, or $3.75 a share, on revenue of $497 million, up 22% from last year.
Investors may be keying off news that at least some of the company's 12% upside surprise was fueled by a lower income tax rate in the latest quarter. Intuitive Surgical said its full-year income tax rate came in at 30.2% of pretax income, down from a 32.1% rate recorded through the first three quarters of the fiscal year....read more
MAKO Surgical (MAKO) Shares Given New $39.00 Price Target by Analyst at Summer Street January 17, 2012
Research analysts at Summer Street increased their price target on shares of MAKO Surgical (NASDAQ: MAKO) to $39.00 in a report issued on Tuesday.
Separately, analysts at Summer Street Research raised their price target on shares of MAKO Surgical from $35.00 to $39.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. Analysts at Goldman Sachs (NYSE: GS) raised their EPS on shares of MAKO Surgical in a research note to investors on Tuesday. They now have a “buy” rating and a $38.00 price target on the stock.
Shares of MAKO Surgical traded up 2.18% during mid-day trading on Tuesday, hitting $35.62. MAKO Surgical has a 52 week low of $15.27 and a 52 week high of $43.00. The stock’s 50-day moving average is $28.04 and its 200-day moving average is $32.37. The company’s market cap is $1.484 billion.
ProPep Surgical™ Issued Unites States Patent for its ProPep Nerve Monitoring System™ January 12, 2012
ProPep Surgical, LLC, a privately-held, Austin-based medical device company, announced today the United States Patent and Trademark Office has granted the company a patent for a System and Method for Laparoscopic Nerve Detection (8,083,685). This is the first in a series a patents the Company has filed or will be filing on their ground breaking ProPep Nerve Monitoring System.
The ProPep Nerve Monitoring System is the first, real-time nerve identification system specifically designed for use during robotic surgery. Fast, accurate and easy to use, the System aids a surgeon in identifying otherwise invisible nerves during minimally invasive robotic pelvic surgery....read more
Immersion's CEO Presents at 14th Annual Needham Growth Conference January 11, 2012
Immersion is The Haptics Company. We are a company that licenses haptic technology. We’ve got world-class customer base. We’re established in large and growing markets. We’ve got a strong patent portfolio of over 1,200 issued or pending patents and we have a strong balance sheet with no debt $63 million in cash. But essentially a licensing company focus in the field of technology called haptics.
Haptic feedback enables keys on the keyboard, a virtual keyboard, you actually feel yourself pushing buttons and keys. You can create cool effects in games, you probably experienced that in the gaming space for many, many years, scrolling, swiping, textures, tension, all of these things engage a sense of touch.
In medical simulation......read complete transcript
Mazor Robotics Announces Key European Patent for Renaissance(TM) Surgical Guidance Robot January 6, 2012
Mazor Robotics Ltd. (tase:MZOR), a developer of innovative surgical robots and complementary products, today announced that the European Patent Office granted European Patent No. 1414362 entitled "Miniature Bone-mounted Surgical Robot," which covers the Company's flagship product, Renaissance(TM). Renaissance is a state-of-the-art surgical robotic system that enables surgeons to conduct spine surgeries in an accurate and secure manner.
The newly granted patent includes claims for surgical robots, including Renaissance, to be mounted to a patient's spine. This maximizes the likelihood of accurate positioning of implants during surgical procedures even if patient movement occurs....read more
4 health technologies to drive cost vs. innovation debate in 2012 January 5, 2012
• 3-D digital breast tomosynthesis..... • Ultra high field strength MRI machines...... • Personalized medicine for cancer care........
• Robotic surgery advances: A new, improved generation of robotic surgery devices is poised to enter the market to compete with the 1,500 daVinci robots made by Intuitive Surgical in Sunnyvale, California. Titan Medical’s version has tactile feedback technology when cutting or suturing a wound that can be give to surgeons, something the daVinci model lacks. It’s also smaller and more flexible and the Canadian company believes it will be ready for FDA approval in 2014.
Although supporter argue the new generation of robots will continue to reduce surgery times and improve precision, the report is skeptical of whether the $3 million outlay is justified. “The real unanswered questions are how much value they add and, more importantly, how and when will they definitively improve patient care and long-term outcomes?........read all
Intuitive Surgical, Inc. Fourth Quarter 2011 Earnings Conference Call 1-3-2012
SUNNYVALE, Calif., Jan 03, 2012 (BUSINESS WIRE) -- Intuitive Surgical, Inc. ISRG, the leader in operative surgical robotics, will hold its quarterly conference call to discuss Fourth Quarter 2011 results, Thursday, January 19, at 4:30 p.m. Eastern Time.
This call is being webcast by Thomson Reuters and can be accessed at Intuitive Surgical's web site at www.intuitivesurgical.com .
Dial-in Numbers: 800-230-1059 or 612-234-9959. No passcode required.
The webcast is also being distributed over Thomson Reuters' Investor Distribution Network to both institutional and individual investors. Individual investors can listen to the call through Thomson Reuters' individual investor center at www.earnings.com or by visiting any of the investor sites in Thomson Reuters' Individual Investor Network. Institutional investors can access the call via Thomson Reuters' password-protected event management site, StreetEvents ( www.streetevents.com ).
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