Robotic Surgery Archives - Page 4 of 8 - Medical Design Sourcing

Stereotaxis stock down amid cloudy outlook

Stereotaxis (NYSE: STXS) today reported second-quarter revenue that missed Wall Street projections, with the surgical robotics company unable to say how quickly revenue will pick up.

Investors reacted by sending STXS shares down more than 18% to $2.10 apiece by late afternoon trading today.

The St. Louis–based company lost $5.1 million, or 7¢ per share, off $6.2 million in revenue for the quarter ended June 30, 2022 — versus a loss of $1.2 million, or 2¢ per share, off $9.1 million in revenue for the same quarter a year ago.

Losses during the second quarter a year ago were less because Stereotaxis received $2.2 million in Paycheck Protection Loan forgiveness. Adjusted net loss for Q2 2022 and 2022 was the same: $2.5 million.

The $6.2 million in revenue during Stereotaxis’ most recent quarter missed The Street, where analysts predicted $7.08 million in revenue. As of June 30, the company had $35.1 million in cash and cash equivalents — and no…

Vicarious Surgical completes Beta 2 system design

Vicarious Surgical (NYSE:RBOT) continues to progress in the development of its Beta 2 robotic surgery platform, though supply chain disruption poses risks for the company’s timeline.

That appeared to be the big message out of the Waltham, Massachusetts–based surgical robotics company’s Q2 earnings report yesterday evening.

Vicarious Surgical’s technology uses proprietary human-like surgical robots combined with 3D visualization to transport surgeons inside the patient to perform minimally invasive surgery. CEO Adam Sachs noted during the company’s earnings call that updates to the previous Beta 1 system are focusing on ergonomic changes for surgeon comfort — and improved 3D visualization, sensing and motion capabilities. The idea is to enable the surgeon to move freely within the abdominal cavity with the system, he said.

“With significant and very positive feedback on the initial Beta 2 ergonomic prototypes, we have complet…

Asensus Surgical says procedures up by more than a third in Q2

Asensus Surgical (NYSE American: ASXC) today announced mixed Q2 results that also included 34% procedures growth year-over-year.

The Research Triangle Park, North Carolina–based surgical robotics and digital surgery company lost $19.6 million, or 8¢ per share, off $994,000 in revenue for the quarter ended June 20, 2022 — versus a loss of $13.2 million, or 6¢ per share, off $1.1 million in revenue for the same quarter a year ago.

Wall Street analysts had expected EPS of –8¢ on $1.25 million in revenue.

During Q2, Asensus announced the installation of a Senhance system at the University Hospital Tübingen in Germany. The company also has two additional orders that have not yet been installed — including one heading toward one of the countries in the Commonwealth of Independent States, the international organization that includes Russia and many other former republics of the Soviet Union.

The company is seeking to expand the use of its Intelligent Sur…

Moon Surgical raises $31.3M for robotic surgery system

Moon Surgical (Paris and San Francisco) announced today that it has raised $31.3 million in Series A funding to expand its team and accelerate the development of its Maestro robotic surgery system.

GT Healthcare Capital & Partners led the round. There was also participation from Johnson & Johnson Innovation – JJDC, Cathay Health — and existing investors including Sofinnova Partners and medtech leaders including Yann Fleureau, Siddarth Satish, Sacha Loiseau and Richard Leparmentier.

“At Moon Surgical, our ambition is to revolutionize minimally invasive surgery through the power of collaborative and adaptive robotics. Our Maestro System can be used in any laparoscopy, in any operating room,” said Anne Osdoit, CEO of Moon Surgical and a partner in Sofinnova Partners’ medtech accelerator, MD Start.

“We are excited to work with our new partners at GT Healthcare, Johnson & Johnson, and Cathay Health as we enter the ne…

Creo Medical inks collaboration agreement with Intuitive

Creo Medical Group (LON: CREO) announced today that it has signed a multi-year collaboration agreement with Intuitive to make certain Creo surgical technologies compatible with the surgical robotic giant’s systems.

The London exchange reacted by sending CREO shares up more than 4% to 100 pence apiece by the close of trading today. As of midday in New York, ISGR shares are up slightly to $221 apiece on the Nasdaq.

Based in the U.K., Creo is developing and commercializing a suite of electrosurgical medical devices. Its patented Kamaptive technology combines adaptive bipolar radiofrequency (RF) and super high-frequency microwave energy in the CROMA advanced energy platform. Kamaptive can dynamically adapt to patient tissue during procedures such as resection, dissection, coagulation and ablation of tissue, according to Creo.

Get the full story on our sister site Medical Design & Outsourcing.

Creo Medical inks collaboration agreement with Intuitive

Creo Medical Group (LON: CREO) announced today that it has signed a multi-year collaboration agreement with Intuitive to make certain Creo surgical technologies compatible with the surgical robotic giant’s systems.

The London exchange reacted by sending CREO shares up more than 4% to 100 pence apiece by the close of trading today. As of midday in New York, ISGR shares are up slightly to $221 apiece on the Nasdaq.

Based in the U.K., Creo is developing and commercializing a suite of electrosurgical medical devices. Its patented Kamaptive technology combines adaptive bipolar radiofrequency (RF) and super high-frequency microwave energy in the CROMA advanced energy platform. Kamaptive can dynamically adapt to patient tissue during procedures such as resection, dissection, coagulation and ablation of tissue, according to Creo.

The agreement with Intuitives outlines how the companies will conduct joint clinical studies and includes a number of milestone …

The road to a robot: Medtronic’s development process for Hugo RAS system

[Image from Medtronic]Elephants are the perfect analogy for surgical robotics, Medtronic (NYSE:MDT) VP of Marketing for Surgical Robotics Mike Stow says.

Speaking on the “Road to a robot: Designing technology to address unmet needs & barriers” panel at DeviceTalks Boston last week, Stow explained that elephants are big, taking up a lot of space and that they eat a lot, making them expensive to maintain.

When customers came to Medtronic 10 years ago asking them to consider building a surgical robot, the excessive size and price of maintenance applied to those systems, too.

“We looked at the current state of robotics going back 10-plus years and we realized there was an opportunity for us to come in,” Stow said. “Customers were saying, ‘hey, could you make something more flexible that fits better into our rooms and into our hospital setting?'”

The third comparison of surgical robots and elephants was slight…

Titan Medical inks a $2.6M purchase order from Medtronic

Robotic-assisted surgery company Titan Medical (Nasdaq: TMDI; TSX: TMD) is deepening its relationship with Medtronic (NYSE:MDT), securing a $2.6 million purchase order from the medtech giant.

The purchase order news comes more than three months after Titan Medical completed a development and licensing agreement with Medtronic that brought in a net $8.3 million, helping the robotic surgery tech developer weather the COVID-19 pandemic and resulting recession.

The purchase order announced today covers the purchase of instruments and cameras for preclinical activities. Medtronic is also evaluating Titan Medical as a potential manufacturing and supply partner. Headquartered in Toronto, Titan Medical has growing operations in Chapel Hill, North Carolina.

Get the full story on our sister site MassDevice.

Titan Medical inks a $2.6M purchase order from Medtronic

Robotic-assisted surgery company Titan Medical (Nasdaq: TMDI; TSX: TMD) is deepening its relationship with Medtronic (NYSE:MDT), securing a $2.6 million purchase order from the medtech giant.

The purchase order news comes more than three months after Titan Medical completed a development and licensing agreement with Medtronic that brought in a net $8.3 million, helping the robotic surgery tech developer weather the COVID-19 pandemic and resulting recession.

The purchase order announced today covers the purchase of instruments and cameras for preclinical activities. Medtronic is also evaluating Titan Medical as a potential manufacturing and supply partner. Headquartered in Toronto, Titan Medical has growing operations in Chapel Hill, North Carolina.

“Medtronic has been a great partner for Titan since 2020, and we’re excited about this opportunity to further our work together,” Paul Cataford, interim president and CEO of Titan, said in a news release.

…

Stereotaxis opens new headquarters in St. Louis

Stereotaxis’ new headquarters are located in the historic Globe Building in downtown St. Louis. [Image courtesy of Globe Building]Surgical robotics company Stereotaxis (NYSE: STXS) is holding a grand opening today for its 45,000 ft² headquarters facility in downtown St. Louis.

The new headquarters is located in the renovated historic Globe Building in St. Louis’s growing Downtown North Urban Insight District. It’s an all-in-one facility housing research and development, advanced manufacturing, and distribution space for the company’s pipeline of robotic surgery technologies.

Stereotaxis more than 130 professionals in 10 countries worldwide. It designed its headquarters to accommodate significant long-term growth.

“Stereotaxis is delighted to inaugurate a modern new headquarters that serves as a foundation for years of progress and growth,” CEO David Fischel said in a news release.

“We appreciate the many community leaders who have support…

Memic Innovative Surgery partners with VirtaMed to develop robotic surgery simulation

Hominis humanoid-shaped arms inside the virtual reality simulation [Image courtesy of VirtaMed]

VirtaMed and Memic Innovative Surgery announced today that they will work together to develop virtual reality simulations for surgeons training on Memic’s Hominis surgical system.

The FDA-authorized Hominis surgical robot features small humanoid-shaped arms that include shoulder, elbow and wrist joints to provide human-level dexterity and 360-degree articulation. The surgical robotics system has an indication for use in single-site, natural orifice laparoscopic-assisted transvaginal benign gynecological procedures including benign hysterectomy.

Memic officials expect the simulator program will be ready for real-world use by the end of this year.

“Before entering the operating room, it is essential for surgeons performing any procedure including transvaginal robotic surgeries to be fully confident …

Johnson & Johnson leaders discuss what’s possible with the Microsoft cloud deal

Johnson & Johnson Group CIO and Global Vice President of Medical Devices Larry Jones [Photo courtesy of J&J]

Two leaders from Johnson & Johnson connected with Medical Design & Outsourcing this week to discuss the medical device maker’s partnership with Microsoft, the cloud’s potential for medical devices and to offer advice for medtech engineers designing for connectivity.

In January, New Brunswick, New Jersey–based Johnson & Johnson (NYSE:JNJ) named Redmond, Washington-based Microsoft (NASDAQ:MSFT) as its preferred cloud provider for digital surgery solutions and partner on building out J&J’s digital surgery platform and internet of things (IoT) device connectivity.

Johnson & Johnson Group CIO and Global Vice President of Medical Devices Larry Jones and Office of Digital Innovation Leader Peter Schulam (who also serves as global head of medical affairs, clinical a…