surgical robotics Archives - Page 4 of 6

Intuitive stock down amid next-gen robot disappointment

Intuitive Surgical (Nasdaq:ISRG) shares took a hit after an earnings call in which CEO Gary Guthart pushed back the timing of a potential next-gen surgical robotics multiport system.

“As we start this year, we do not currently expect a new multiport system launch in 2023,” Guthart said in a call with analysts this evening.

Later in the night, BTIG analysts released a note with the headline: “Multiport Head-Fake Tanks Shares Midway Through the Earnings Call; It’s Not What Many Wanted to Hear.”

ISRG shares were down more than 9% to $257.98 apiece after-hours.

“Shares tanked, and we’re scratching our heads a bit as we try to understand ISRG’s thinking. Some of the change in posture appears to be stemming from a dynamic regulatory environment (across multiple geographies), which may require clinical trials that push out clearances, but supply chain (and new component availability) also appears to be an i…

Titan Medical meets with strategic buyers and investors as surgical robot developer considers its future

Titan Medical’s Enos surgical robotics system has snake-arm instruments that deploy through a single incision. An Enos 2.0 prototype (pictured here) makes room for a third instrument arm by eliminating the integrated camera and using the 3-D scope. [Photo courtesy of Titan Medical]Titan Medical (Nasdaq:TMDI) met with potential buyers of the surgical robotics company this week in San Francisco.

The Toronto-based medical device developer has been considering the best options for investors and the company’s Enos surgical robot. Facing delisting of its stock from the Nasdaq exchange due to its low price last year, Titan Medical announced a strategic review in November and furloughed staff in December.

Also this week — and probably not coincidentally — the company released details of a second-generation Enos design with improvements such as an increase in the number of instrument arms to three from two. Learn more about those Enos design improvements, including a…

Corindus rebrands as Siemens Healthineers Endovascular Robotics

The CorPath system. [Image from Siemens Healthineers Endovascular Robotics/Corindus]Siemens Healthineers announced that its Corindus company rebranded to “Siemens Healthineers Endovascular Robotics.”

In 2019, Siemens Healthineers bought out Corindus for $1.1 billion. Corindus develops the CorPath robot-assisted device for coronary and peripheral vascular procedures.

According to a news release, brand unification represents “the final step” in the company integration process that began in 2019. The business aims to advance interventions with robotics, changing the delivery of care through innovations. These innovations enhance physician techniques and bring precision to interventional procedures, Siemens said.

Siemens said it now offers the Endovascular Robotics business access to its company-wide resources. That allows it to continue advancing its vision of developing innovative, image-guided robotic solutions. It intends to continue…

Titan Medical shelves its plan to avoid Nasdaq delisting

Titan Medical (Nasdaq:TMDI) is suspending a special meeting of shareholders that was supposed to vote on a share consolidation plan.

Since announcing the plan for the Jan. 12 meeting, however, the surgical robotics company’s management has decided to instead begin a strategic review. A sale of the company is a possibility. Meanwhile, Titan has also announced cost-cutting measures. They include furloughing 40 employees.

Cary G. Vance, Titan’s President and CEO, commented, “After consultation with our financial and legal advisors, we determined it was in the best interest of the company and its shareholders to suspend the special meeting,” Titan Medical CEO Cary G. Vance said in a news release.

“This action, in addition to resulting in a cost savings, allows the company to focus its attention on the strategic review process, completing tasks towards an IDE filing with the FDA and fulfilling certain other contractual development and supply…

Moon Surgical wins first FDA 510(k) clearance for surgical robot

This screen grab from a Moon Surgical marketing video gives an idea of what the Maestro robotic surgery system looks like in action [Image courtesy of Moon Surgical]Moon Surgical announced today that it received FDA 510(k) clearance for its Maestro surgical robotics system.

Paris- and San Francisco-based Moon Surgical designed Maestro to support surgeons in soft tissue surgical procedures. Think of it as a robotic surgical assistant.

The small, adaptable system can integrate into existing clinical workflows. It features capabilities that bolster operating room efficiency and allow for alternative labor models, the company said.

In June, Moon Surgical completed a $31.3 million Series A fundraising. CEO Ann Osdoit said the company aims to make Maestro capable of use in any laparoscopy in any operating room. This could revolutionize minimally invasive surgery through collaborative and adaptive robotics.

Moon Surgical featured…

Titan Medical to implement cost-cutting measures, furloughs 40 employees

Titan Medical (Nasdaq:TMDI) announced today that it plans to implement cost-cutting measures that include temporary furloughs.

News of cost-cutting follows last week’s announcement that Titan plans to review and evaluate strategic alternatives.

Toronto-based Titan develops single-access robotic-assisted surgery technology. It consulted with financial and legal advisors to determine that the review is in the company’s and stakeholders’ best interest. Titan’s board plans to consider a full range of strategic alternatives. That may include a corporate sale, merger or other business combination. It could also lead to a sale of all or a portion of its assets, strategic investment or other significant transaction.

According to a news release, Titan’s measures allow it to continue working on its FDA investigational device exemption (IDE) filing. As part of the plan, Titan’s U.S. subsidiary intends to temporarily furlough approximately 40 emplo…

FDA clears Neocis surgical robot for bone reduction

The Yomi surgical robot. [Image from Neocis]Neocis announced today that it received FDA 510(k) clearance for its Yomi surgical robot system for use in guided bone reduction.

This represents the second FDA clearance for Neocis this year, and its 14th in total.

Miami-based Neocis designed its Yomi surgical robot for dental surgery. It assists clinicians in the planning and operative phases of dental implant placement. For example, Yomi offers interactive digital planning software and physical guidance for surgical instrumentation.

The new indication for Yomi allows dental professionals to perform robot-guided alveoloplasty of the mandible and/or maxilla. This is commonly referred to as bone reduction, according to a news release.

A CT scan of the patient digitally plans the bone reduction and placement of implants. During the procedure, Yomi’s guide arm provides haptic feedback. This keeps the burr from deviating beyond …

Titan Medical to seek share consolidation to keep Nasdaq listing

Titan Medical (Nasdaq: TMDI; TSX: TMD) said today that it will hold a virtual shareholders meeting on Jan. 12, 2023 to seek approval for a share consolidation plan.

The surgical robotics company described share consolidation as the last option to regain compliance with Nasdaq’s $1 a share minimum bid price requirement and retain its listing.

Titan Medical has until Dec. 26 to demonstrate that TMDI shares can trade over $1 apiece for at least 10 consecutive business days. After that, TMDI shares are subject to a delisting after Titan Medical exhausts its appeals process.

TMDI shares were down more than 2% to 44¢ apiece in morning trading today.

“We believe that a consolidation is in the best interests of shareholders, including for the purposes of regaining compliance with Nasdaq listing requirements,” CEO Cary G. Vance said in a news release.

“A continued Nasdaq listing provides numerous benefits to the company, incl…

Stereotaxis stock up on new orders, progress on next-gen robot

Stereotaxis’ headquarters in St. Louis include an operating room with a Genesis RMN system for demonstration and training purposes. [Image courtesy of Stereotaxis]Stereotaxis (NYSE:STXS) today reported third-quarter results that missed on revenue. However, investors reacted positively to a list of positive news from the surgical robotics company.

St. Louis–based Stereotaxis lost $5.3 million, or 7¢ per share, off $7.7 million in revenue for the quarter ended Sept. 30, 2022. It lost $5.0 million, or 7¢ per share, off $9.1 million in revenue in Q3 2021.

Wall Street analysts had expected $8.2 million in revenue.

However, much of the news was positive for Stereotaxis, which provides surgical robotics that incorporate magnets for minimally invasive endovascular intervention. (It’s included in MassDevice’s list of robotic surgery companies you need to know.)

“Stereotaxis continues to demonstrate robust commercial and technological progres…

Titan Medical CEO sees ‘unique opportunity’ for Enos surgical robot in an increasingly crowded field

Titan Medical CEO Cary Vance [Photo from Vance’s LinkedIn page] Titan Medical CEO Cary Vance discusses the Enos robotic surgery platform, deals with Medtronic and supply chain silver linings.

Titan Medical President and CEO Cary Vance said he knew what he was getting into when he was approached about leading the robotic surgery company.

“The challenges, I knew what they were,” said Vance, who had served on the company’s board for two years when he became CEO of Titan in July. “I knew the opportunity we had to meet those challenges and knew the people I’d be working with … could make sure whatever strategy we have is executed.”

Vance sees “a unique opportunity” ahead of Toronto-based Titan, which is manufacturing the Enos surgical robot platform with plans to enter into clinical use next year.

In June, Titan delayed its FDA investigational device exemption (IDE) submission timeline for the roboti…

Neocis raises $40M for dental surgical robot

The Yomi surgical robot. [Image from Neocis website]Robot-assisted dental surgery technology developer Neocis announced today that it completed an oversubscribed financing round worth $40 million.

Miami-based Neocis manufactures Yomi, a computerized robotic navigational system. It provides assistance in the preoperative and intraoperative phases of dental implantation surgery. Yomi provides software for planning procedures and offers robotic navigational guidance for surgical instruments during procedures. The company developed its system for use in partially edentulous and fully edentulous adult patients who qualify for dental implants.

Yomi assists clinicians during all phases of implant placement. Its streamlined digital planning and haptic guidance offer accuracy, efficiency and confidence for clinicians. Its uses often include flapless procedures, a less invasive surgical approach.

An unnamed specialist investor within the dental industry led Neocis…

Smith+Nephew announces first clinical use of Legion revision knee handheld robotics tech

The Cori surgical robot system for knee replacement. [Image from Smith+Nephew]Smith+Nephew (NYSE:SNN) today announced the first cases for revision knee replacement using the Cori surgical robot system.

Dr. Thorsten Seyler of Duke University performed the first cases on Aug. 17, 2022. Seyler used the combination of Smith+Nephew’s handheld Cori robotic technology with the Legion revision knee system. The system uses image-free smart mapping to eliminate the need for pre-operative CT/MRI scans. It also eliminates the potential for image distortion due to in situ components from the primary procedure.

London-based Smith+Nephew said in a news release that surgeons can build patient-specific 3D models of the joint. They can also register anatomy and bony defects after implant extraction. With the system, surgeons can intra-operatively gap balance in real-time, and accurately precision mill for final placement of components.

Smith+Nephew said it is the first…