Intuitive Surgical, Inc. (NASDAQ: ISRG) is the global technology leader in minimally invasive robotic-assisted surgery. The Company's da Vinci® Surgical System enables surgeons to operate minimally invasively through a few small incisions or the belly button from a nearby ergonomic console. The da Vinci System features a magnified 3D HD vision system and tiny wristed instruments that bend and rotate far greater than the human hand. As a result of this technology, da Vinci enables surgeons to operate with enhanced vision, precision and control.
The original prototype for the da Vinci System was developed in the late 1980s at the former Stanford Research Institute under contract to the U.S. Army. While initial work was funded in the interest of developing a system for remotely performing battlefield surgery, possible commercial applications were even more compelling. It was clear to those involved that this technology could accelerate the application of a minimally invasive surgical approach to a broader range of procedures.
In 1995, Intuitive Surgical was founded to test this theory. In January 1999, Intuitive launched the da Vinci System, and in 2000 became the first robotic surgical system cleared by the FDA for general laparoscopic surgery. In the following years, the FDA cleared the da Vinci System for thoracoscopic (chest) surgery, cardiac procedures performed with adjunctive incisions, as well as urologic, gynecologic, pediatric, and transoral otolaryngology procedures. In June 2000, Intuitive Surgical completed a successful initial public offering. This was followed by a second successful public offering in 2003. In 2003, the company also acquired its principal competitor, Computer Motion, Inc., strengthening the company’s intellectual property holdings.
For additional information about Intuitive Surgical, including da Vinci System installations, procedures, fiscal year revenue, patent and patent applications, please refer to our Investor Presentation.
Serious complications may occur in any surgery, including da Vinci® Surgery, up to and including death. Examples of serious or life-threatening complications, which may require prolonged and/or unexpected hospitalization and/or reoperation, include but are not limited to, one or more of the following: injury to tissues/organs, bleeding, infection and internal scarring that can cause long-lasting dysfunction/pain. Risks of surgery also include the potential for equipment failure and/or human error. Individual surgical results may vary.
Risks specific to minimally invasive surgery, including da Vinci Surgery, include but are not limited to, one or more of the following: temporary pain/nerve injury associated with positioning; temporary pain/discomfort from the use of air or gas in the procedure; a longer operation and time under anesthesia and conversion to another surgical technique. If your doctor needs to convert the surgery to another surgical technique, this could result in a longer operative time, additional time under anesthesia, additional or larger incisions and/or increased complications.
Patients who are not candidates for non-robotic minimally invasive surgery are also not candidates for da Vinci® Surgery. Patients should talk to their doctor to decide if da Vinci Surgery is right for them. Patients and doctors should review all available information on non-surgical and surgical options in order to make an informed decision. For Important Safety Information, including surgical risks, indications, and considerations and contraindications for use, please also refer to http://www.intuitivesurgical.com/safety. Unless otherwise noted, all people depicted are models.
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1Claim based on Solucient market analysis and internal Intuitive Surgical data on file.
2Since da Vinci Hysterectomy procedure numbers grow rapidly, Intuitive Surgical does market share on an instantaneous (i.e. quarterly) basis. In 1Q12, there were 9,295 da Vinci Hysterectomy cancer procedures in the US. Assuming cancer has no seasonality, which is the case, there are ~13,750 cases per quarter (55,000 / 4). 9295/13750=68%
3National Cancer Institute. NCI Cancer Bulletin. Tracking the Rise of Robotic Surgery for Prostate Cancer. Aug. 9, 2011 Vol. 8/Number 16. Available from: http://www.cancer.gov/ncicancerbulletin/080911/page4.
About the da Vinci System