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

7 technologies to make a ‘new Medtronic’ even more powerful

[Original image from Unsplash]

It’s been four months since Geoff Martha took over the corner office at Medtronic (NYSE:MDT), and it’s becoming clear that he has ambitious plans for the world’s largest medical device company.

During the company’s Q1 earnings call on Aug. 25, Martha said management in the coming weeks plans to outline plans for a “new Medtronic” that is more nimble and competitive. He touted the pipeline of products the company has built, saying that it was time to play offense and expand market share now that the pipeline is kicking in.

“We’re determined to make this pipeline count, not just for patients, our customers but for shareholders,” Martha said. He later added: “Over time, longer-term, we want to put the tech in medtech. And we want to shift, we want to pool in some of these digital technologies to change our offerings.”

Raj Denhoy and other Jefferies analysts in a research…

TransEnterix appoints CFO

Robotic surgery company TransEnterix (NYSE: TRXC) announced today that it has hired Shameze Rampertab as its news EVP and CFO.

“We are delighted to welcome Shameze to our team during this important time in TransEnterix’s journey,” TransEnterix CEo Anthony Fernando said in a news release. “His extensive experience at implementing financial strategies and sourcing equity and debt financing options will be invaluable as we continue towards our goals for 2020 and beyond. I am confident Shameze will make an immediate positive impact on the organization and help lead TransEnterix through its next phase of growth.”

Rampertab has over 20 years of financial leadership experience in the healthcare sector. He also spent time as an investment banker and sell-side equity research analyst. Most recently, he rose up to become interim CEO at animal health company Zomedica Pharmaceuticals.

TransEnterix recently reported tough but better-than-expected results for its seco…

Titan Medical reports improved financial position at end of Q2

Titan Medical (TSX:TMD;OTC:TITFX) faced a working capital deficit of $9.7 million more than a year ago. Fast forward 12 months, and the robotic surgery company has $21.7 million in working capital and has been able to resume product development.

That seems to be the big takeaway from Titan Medical’s second-quarter earnings report, released yesterday. Titan executives were able to turn things around thanks to a $10 million license payment as part of its new development deal with Medtronic (NYSE:MDT). Titan also recently brought in $18 million from a public equity raise.

“During the first half of 2020, we also reached agreement on a payment plan with one of our product development suppliers and resolved pending litigation with another service provider,” CEO David McNally said in a news release.

“We are now focused on staffing our newly created U.S. affiliate’s new facility in Chapel Hill, N.C. in order to execute on the development miles…

TransEnterix losses less than expected in Q2

TransEnterix (NYSE: TRXC) reported tough but better-than-expected results for its second quarter as it navigates a challenging COVID-19 pandemic environment.

The Research Triangle Park, N.C.–based robotic surgery company said yesterday evening that cost-saving initiatives and a $15 million underwritten public offering have provided enough cash to support operations into the second quarter of 2021.

TransEnterix reported earnings of –$14.1 million, or –27¢ per share, on sales of $700,000 for the three months ended June 30, 2020. The company earnings of –$20.2 million, or –$1.21 per share, off sales of $3.6 million during the same quarter a year ago.

Adjusted to exclude one-time items, earnings per share were –21¢, 17¢ ahead of The Street, where analysts were looking earnings of –38¢ per share on sales of $420,000.

“Despite operating in a challenging environment throughout the second quarter, we made significant progress towards our goals for the ye…

Titan Medical CEO sees opportunity as product development resumes

Titan Medical (TSX:TMD;OTC:TITFX) has been able to resume product development of its single-port robotic surgical system, CEO David McNally said today in a letter to shareholders.

Titan is back working on its system thanks to a $10 million license payment and $1.5 million loan as part of its new development deal with Medtronic (NYSE:MDT). Titan also recently brought in $20 million from a public equity raise.

McNally said that the opportunity for single-port robotic surgery appears promising. He noted the clinical success that surgeons are reporting while using Intuitive Surgical’s da Vinci SP — presently the only commercially available single-port offering — but the success involves surgical indications outside the initial target area that Titan is pursuing.

“We believe that our robotic-assisted surgical system, having been designed with a focus on single-port surgery, may provide competitive advantages for physicians and their clinical teams, hosp…