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MedTech 100 roundup: Industry rebounds from massive dip

The medtech industry saw its largest fall in several months last week, but it has rebounded slightly after a couple of bad weeks.

A strong start to 2021 hit a skid at the end of February and carried over into March, with MassDevice‘s MedTech 100 index hitting its lowest point on March 8 (102.16). It had only notched an all-time best of 110.96 on Feb. 15, leading to a precipitous fall not seen since October.

While the heights of last month have not yet been returned to, the industry has shown signs of bouncing back. The index ended the week (March 12) at 104.62, marking a 1.3% rise from the 103.3-point mark set one week before (March 5).

The industry remains in a strong position and one that is particularly stronger than it was at this time a year ago, as the index is now 13.3% up on the pre-COVID-19 pandemic high of 92.32 set on Feb. 19, 2020.

Nearly one year ago, on March 23, 2020, as the pandemic took hold, the industry sat at 62.13 points on th…

Asensus Surgical rises on Street-beating Q4

Asensus Surgical (NYSE:ASXC) shares ticked up before hours today on fourth-quarter results that topped the consensus forecast.

The Research Triangle Park-based robotic surgery company, which recently changed its name from TransEnterix, posted losses of -$13.8 million, or -13¢ per share, on sales of $1.1 million for the three months ended Dec. 31, 2020, for a nearly unchanged bottom line on sales growth of 61%.

Adjusted to exclude one-time items, losses per share were -9¢, 2¢ ahead of Wall Street, where analysts were looking for sales of $1.06 million.

“We are very pleased with the momentum we generated during 2020 and particularly during the fourth quarter,” Asensus Surgical president & CEO Anthony Fernando said in a news release. “This momentum continued into the early part of 2021 where we have already accomplished a number of significant milestones, including the bolstering of our balance sheet, the rebranding of the organization, and the introduc…

MedTech 100 roundup: Industry sees largest fall since October

The medtech industry’s hot start to 2021 has finally come to a full halt after stocks fell harder than they had in more than four months.

MassDevice‘s MedTech 100 index ended the week (March 5) at 103.3 points, marking a -3.1% dip from the 106.65-point mark set one week before (Feb. 26). In less than a month, the fall has been more than seven points from the end-of-week tally of 110.63 points on Feb. 12.

Medtech’s lowest point of the week was on Thursday, March 4, when it fell to 102.85. The overall drop of about five points from the 107.88-point mark set on Monday, March 1, is the largest dip since the index slid from 97.2 to 91.01 between Oct. 23, 2020, and Oct. 30, 2020.

The all-time best for the index was 110.96, set just three days after that. The index had never reached even the 100-point mark before November 2020.

Still, the industry is in much better condition than it was around this time last year. Medtech’s latest mark means …

DTW Podcast: Can AI, advanced imaging and robotics “democratize” surgery?

A new generation of digital surgery systems will level the playing field for surgeons giving them artificial intelligence, robotic tools and other assistive technologies.

In three interviews in this week’s DeviceTalks Weekly Podcast, leaders form Asensus, ActivSurgical and Memic explain how their systems will improve surgeon performance, reduce errors, and deliver the “democratization” of surgical robotics.

Guests this week include

Anthony Fernando, CEO of Asensus Surgical (formerly Transenterix), outlines the company’s bid to push its Sehance system as a solution for laparoscopic procedures. Fernando, who took over as CEO in 2019, explains why the company’s stock crashed in 2019 and details the changes that he says has started the company’s turnaround. Senhance offers more responsive surgical tools along with data that will help with surgical training and scheduling.

Todd Usen, CEO of ActivSurgical, left a job he loved at Olympus to lead a compan…

Asensus finalizes name change from TransEnterix, debuts NYSE ticker

Asensus Surgical (NYSE:ASXC) announced today that it formally completed its name and stock ticker change from TransEnterix (NYSE:TRXC).

Research Park Triangle, N.C.-based Asensus announced last month that the company would change its name from TransEnterix to Asensus Surgical and introduce a new surgery category. The company aims to enter a new era of performance-guided surgery focused on digitizing the interface between surgeons and patients to bring clinical intelligence that may enable better outcomes and, potentially, a new standard of surgery.

Effective today, the company’s stock is trading on the New York Stock Exchange American under the ASXC ticker. No actions are needed from current stockholders relative to the change. Shares of ASXC are currently trading at $4.08 per share, having closed yesterday down -10.1%.

Just this week, Asensus garnered its first regulatory nod since the name change, winning expanded FDA clearance for general surger…

Asensus Surgical wins FDA nod for general surgery with Senhance robotic surgery system

Asensus Surgical (NYSE:TRXC), formerly TransEnterix, announced that it won expanded FDA clearance for its Senhance surgical system.

Research Triangle Park, N.C.-based Asensus Surgical’s Senhance surgical system, which it touts as the first-of-its-kind digital laparoscopic platform that leverages augmented intelligence to provide strong performance and positive patient outcomes through machine learning, now has FDA clearance for indication expansion in general surgery, according to a news release.

The surgical robotic system provides assurance through haptic feedback, eye-tracking camera control and 3D visualization, while also being the first such platform offering 3mm instruments, which are the smallest available on a robotic surgical platform.

Senhance’s U.S. indication is for controlling laparoscopic instruments for visualization and endoscopic manipulation of tissue, including grasping, cutting, blunt and sharp dissection, approximation, …

DTW Podcast: Geoff Martha updates Medtronic’s new course; AJAX CEO Duke Rohlen is funding innovation differently

Medtronic CEO Geoff Martha and Ajax CEO Duke Rohlen share insights and wisdom on this episode of the podcast.

Less than a year into his role as CEO, Geoff Martha and the Medtronic leadership has overseen a significant reorganization of medtech’s largest player.

In our closing keynote conversation, Martha says the company is clearing a minor COVID-19 bump and sees open road for the company to continue to grab share from competitors.

Martha details what products are gaining the most traction while also identifying those that still have some ground to gain.

We also discuss: When it may bring its renal denervation project to the FDA Why Hugo the surgical robot will be worth the wait (and why development has taken more than a decade) Whether or not Medtronic will collaborate more with private equity firms, early-stage incubators and maybe even SPACs? What will the company’s acquisition strategy look like in 2021. And why. Why the price-cutting for drug-eluting …

BREAKING: TransEnterix announces name change, new category of surgery

TransEnterix (NYSE:TRXC) announced today that it will change its name to Asensus Surgical and introduce a new category of surgery to its offerings.

Research Triangle Park, N.C.-based Asensus Surgical said in a news release that its name change represents its broader vision of shaping the future of surgery by integrating computer vision and machine learning with surgical robotics. Sensus is Latin for “cognition,” highlighting the connection between surgeons’ knowledge and the augmented intelligence technology, the company said.

Including “A” ahead of “sensus” is a hat-tip to augmented intelligence, while “Asensus” also represents “ascending” and elevating” as a tribute to the company’s efforts to elevate robotic surgery.

As a result of the name change, which is effective today, Asensus stock will begin trading under the ASXC ticker on the New York Stock Exchange at the open of t…