Medical Design and Outsourcing

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Intuitive Surgical logo

Intuitive Surgical

2023 Rank: 22
2022 Rank: 22

Headquarters:
Sunnyvale, California

www.intuitive.com

Revenue ($USD) : $6,222,200,000
R&D spend : $879,000,000.00
Employees : 12,120
Fiscal year end : 12/31/22
CEO : Gary Guthart, president & CEO

Medtech companies large and small appear to be learning what Intuitive figured out a long time ago: Innovating in surgical robotics is hard. It’s probably why Intuitive remains the dominant company in the soft-tissue robotics space with its da Vinci and Ion systems — and why Intuitive’s top executives are staying quiet about potential timelines for next-generation robotic platforms. During the company’s Q2 earnings call in July, CEO Gary Guthart noted that it’s possible to build features quickly, but long-term validation is arduous. For example, the company has initiated a phase 1 launch of Case Insights, a tool that works with the da Vinci system and hospital data to build AI models that find correlations between surgical technique, patient populations, and surgical outcomes. But Guthart noted that it will take several quarters before Intuitive sees material revenue from Case Insights. Intuitive officials also see opportunities for Ion, which has a fully articulating catheter making its way through the lungs for cancer biopsy. In May, Intuitive promoted Dave Rosa to the role of president. –CN

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