Medical Design and Outsourcing

  • Home
  • Medical Device Business
    • Mergers & Acquisitions
    • Financial
    • Regulatory
  • Applications
    • Cardiovascular
    • Devices
    • Imaging
    • Implantables
    • Medical Equipment
    • Orthopedic
    • Surgical
  • Technologies
    • Contract Manufacturing
    • Components
    • Electronics
    • Extrusions
    • Materials
    • Motion Control
    • Prototyping
    • Pumps
    • Tubing
  • Med Tech Resources
    • DeviceTalks Tuesdays
    • Digital Editions
    • eBooks
    • Manufacturer Search
    • Medical Device Handbook
    • MedTech 100 Index
    • Podcasts
    • Print Subscription
    • The Big 100
    • Webinars / Digital Events
    • Whitepapers
    • Video
  • 2022 Leadership in MedTech
    • 2022 Leadership Voting!
    • 2021 Winners
    • 2020 Winners
  • Women in Medtech

Intuitive Surgical names new C-suite leaders, reports Street-beating Q3

October 19, 2021 By Jim Hammerand

Intuitive Surgical CFO Jamie Samath

Jamie Samath [Photo courtesy of Intuitive Surgical]

Intuitive Surgical (NSDQ:ISRG) today announced changes in the ranks of its senior leadership as the surgical robotics maker released Q3 results that exceeded expectations.

Sunnyvale, California-based Intuitive launched two new functional organizations — Strategy and Growth, and Global Business Services — and named leaders who will take over effective Jan. 1.

Dave Rosa, a 25-year veteran at Intuitive, will fill the new position of EVP and chief strategy and growth officer, while Henry Charlton (with more than 18 years of experience at the company) will serve as chief commercial officer.

Marshall Mohr, who has served as CFO for 15 years, will take the new position of EVP for Global Business Services.

Replacing Mohr at CFO is Jamie Samath, who has been with Intuitive since 2013 and oversaw most finance functions as SVP of finance.

“These are outstanding and proven leaders. I am confident they will be effective in pursuing our goal to advance minimally invasive care globally in a highly competitive environment,” Intuitive CEO Gary Guthart said in a news release. “Their efforts will help us operate at the larger scale our customers demand globally.”

Intuitive reported $1.40 billion in revenue for the third quarter ended Sept. 30, 2021, and $381 million in net income, or $1.04 per diluted share (calculated by Intuitive using non-GAAP metrics as $435 million, or $1.19 per diluted share). Analysts expected EPS of $1.17 off $1.39B in revenue.

Robotic surgery procedures using Intuitive’s da Vinci system increased about 20% worldwide over the third quarter of 2020, with COVID-19 pandemic disruptions significantly hurting volumes in both quarters.

Intuitive tightened its full-year 2021 guidance for procedure growth from 27-30% to 27-29%.

The company said it shipped 336 da Vinci systems in the quarter, up 72% from the same time a year ago, and increased its installed base by 11% in that time to 6,525.

Intuitive Surgical CEO Gary Guthart

Intuitive Surgical CEO Gary Guthart [Photo courtesy of Intuitive Surgical]

“We are pleased with our team’s performance in a complex environment, and we are building upon the robust clinical and technological foundation created over the past 26 years through investment in innovation to drive continued growth,” Guthart said in a news release.

The Q3 earnings came out on the same day that Johnson & Johnson (NYSE: JNJ) announced a two-year delay in developing its Ottava soft-tissue surgical robot, its bid to compete against Intuitive in the space.

Investors reacted by sending ISRG shares up slightly in after-hours trading.

Hear more about Intuitive and robotically-assisted surgery from leaders like CEO Gary Guthart in Mass Device’s new IntuitiveTalks Podcast.

DeviceTalks by MassDevice · CEO Gary Guthart explains how Intuitive grew into the dominant force in surgical robotics

Related Articles Read More >

Medtronic Hugo robot-assisted surgery system
The road to a robot: Medtronic’s development process for its Hugo RAS system
A portrait of Stryker executive Siddarth Satish
How Stryker includes users for product design in the digital age
Harvard Science and Engineering Complex SEC SEAS Harvard John A. Paulson School of Engineering and Applied Sciences
Here’s where Harvard’s engineering dean sees medtech research going
A portrait of Fictiv co-founder and CEO Dave Evans
Manufacturing matchmaker Fictiv raises $100M for supply chain push

DeviceTalks Weekly.

May 13, 2022
Our Pre-Post-DeviceTalks Boston episode, also MedtronicTalks replay with Gastro CMO Austin Chiang
See More >

MDO Digital Edition

Digital Edition

Subscribe to Medical Design & Outsourcing. Bookmark, share and interact with the leading medical design engineering magazine today.

MEDTECH 100 INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.
DeviceTalks

DeviceTalks is a conversation among medical technology leaders. It's events, podcasts, webinars and one-on-one exchanges of ideas & insights.

DeviceTalks

New MedTech Resource

Medical Tubing

Enewsletter Subscriptions

Enewsletter Subscriptions

MassDevice

Mass Device

The Medical Device Business Journal. MassDevice is the leading medical device news business journal telling the stories of the devices that save lives.

Visit Website
MDO ad
Medical Design and Outsourcing
  • MassDevice
  • DeviceTalks
  • MedTech 100 Index
  • Medical Tubing + Extrusion
  • Drug Delivery Business News
  • Drug Discovery & Development
  • Pharmaceutical Processing World
  • R&D World
  • About Us/Contact
  • Advertise With Us
  • Subscribe to Print Magazine
  • Subscribe to E-newsletter
  • Attend our Monthly Webinars
  • Listen to our Weekly Podcasts
  • Join our DeviceTalks Tuesdays Discussion

Copyright © 2022 WTWH Media, LLC. All Rights Reserved. Site Map | Privacy Policy | RSS

Search Medical Design & Outsourcing

  • Home
  • Medical Device Business
    • Mergers & Acquisitions
    • Financial
    • Regulatory
  • Applications
    • Cardiovascular
    • Devices
    • Imaging
    • Implantables
    • Medical Equipment
    • Orthopedic
    • Surgical
  • Technologies
    • Contract Manufacturing
    • Components
    • Electronics
    • Extrusions
    • Materials
    • Motion Control
    • Prototyping
    • Pumps
    • Tubing
  • Med Tech Resources
    • DeviceTalks Tuesdays
    • Digital Editions
    • eBooks
    • Manufacturer Search
    • Medical Device Handbook
    • MedTech 100 Index
    • Podcasts
    • Print Subscription
    • The Big 100
    • Webinars / Digital Events
    • Whitepapers
    • Video
  • 2022 Leadership in MedTech
    • 2022 Leadership Voting!
    • 2021 Winners
    • 2020 Winners
  • Women in Medtech