07.20.22
Rank: #21 (Last year: #23)
$5.71 Billion
Prior Fiscal: $4.35 Billion
Percentage Change: +31.3%
R&D Expenditure: $671M
Best FY21 Quarter: Q4 $1.55B
Latest Quarter: Q1 $1.49B
No. of Employees: 9,793
Global Headquarters: Sunnyvale, Calif.
KEY EXECUTIVES:
Gary S. Guthart, Ph.D., CEO
Jamie Samath, CFO
Myriam J. Curet, MD, FACS, Exec. VP and Chief Medical Officer
Bob DeSantis, Exec. VP and Chief Product Officer
Brian Miller, Ph.D., Chief Digital Officer
Dave Rosa, Exec VP and Chief Strategy and Growth Officer
Michelle DiMartino, Chief Human Resources Officer
A week and a half before Christmas, robotic-assisted surgical technology maker Intuitive Surgical announced that the number of da Vinci surgical robotic procedures had surpassed 10 million.
The flagship surgical robot was FDA approved in 2000, and since has gathered an installed base of over 6,500 in 67 countries. Approximately 55,000 surgeons worldwide are trained to use the robot. da Vinci assists in almost 70 different surgical specialties, including urology, gynecology, thoracic surgery, general surgery, and transoral surgery.
“The growing base of clinical evidence—nearly 30,000 studies on robotic-assisted surgery—and the increasing ability of surgeons, hospitals, and healthcare systems to assess their own data and patient outcomes, have been major drivers of surgeon adoption and the procedure growth that follows,” CEO Gary Guthart told the press in December.
In the following two decades, the firm has released the da Vinci X, Xi, and single-port systems, the latter of which earned FDA approval for urology procedures in 2018 and radical tonsillectomy and tongue base resection in 2019. According to trial results from this year’s American Urological Association meeting, uro-oncologic surgical patients reported better cosmetic and pain outcomes using the single-port system against the multi-port version.
“Symptomatic and cosmetic advantages are present at the 20-day follow up, with better scar appearance being significant also 90 days after surgery,” the study authors reported in The Journal of Urology in May.
Until the COVID-19 pandemic stifled 2020 sales into a decline, Intuitive has been steadily climbing the Top 30. In just five years the firm has risen six spots in the list of the medtech elite with over $3 billion of revenue growth in the company’s pockets. 2021’s sales of $5.71 billion made up for lost time from COVID, growing by nearly a third over the previous fiscal year (ended Dec. 31).
Intuitive shook up its leadership in October by creating two new functional organizations: Strategy and Growth, and Global Business Services. Then-CFO Marshall Mohr was named executive VP of Global Business Services and was succeeded by current CFO Jamie Samath, who has been with the company since 2013. Dave Rosa—who has been with Intuitive for 25 years—became executive VP and chief strategy and growth officer. He was succeeded by 18-year Intuitive veteran Henry Charlton in the position of chief commercial officer. All of the employees began these positions on Jan. 1 this year.
Former AdventHealth executive Dr. Monica P. Reed was also appointed to the company’s board of directors last April. Across the Pacific, healthcare executive Yong-Bum Choi was named general manager for South Korea in August.
Robotic surgical instruments and accessories captured $3.1 billion of net sales, rising 26.2%. According to the company, the increase reflected continued procedure adoption.
The company’s only major product announcement last year came from this business in December with the U.S. Food and Drug Administration (FDA) clearance of its fully wristed, 8 mm SureForm curved-tip stapler and reloads for general, thoracic, gynecologic, urologic, and pediatric surgery.
The combination of the 8 mm-diameter instrument shaft and jaws, 120-degree cone of wristed articulation, and curved tip can help better visualize and reach anatomy. It fits through the 8 mm da Vinci instrument cannula to allow different angles of approach as well.
Systems revenue hiked up 43.7% with its proceeds of $1.69 billion. Last year saw placement of 668 da Vinci surgical systems compared to 2020’s 432 placements. About 1.6 million da Vinci surgical procedures were performed in 2021.
Intuitive shared preliminary results of the 69-patient PRECIsE trial of its Ion endoluminal system for peripheral nodule lung biopsy in October. An 83% average diagnostic yield was reached, with 82% of 1-2 cm nodule cases spotted and 85% for those between 2-3 cm. Sensitivity for malignancy from biopsy samples was 84%-88%. No serious adverse events were reported. As of the second quarter of last year, there were over 70 Ion systems installed in U.S. hospitals.
These preliminary results of 69 subjects with up to 14-month follow up for applicable subjects are a subset of the study’s total of 365 patients, who were enrolled across six medical centers beginning in March 2019.
Services revenue makes up the remainder of Intuitive’s business—it rose 26.7% to come to rest at $962 million. The increase was primarily driven by the growth of the base of installed da Vinci Surgical Systems producing service revenue, as well as effects of the Customer Relief Program in the prior year that caused an $80 million decrease in service revenue in 2020. The installed base of da Vinci Surgical Systems grew 12% to approximately 6,730 as of last year.
$5.71 Billion
Prior Fiscal: $4.35 Billion
Percentage Change: +31.3%
R&D Expenditure: $671M
Best FY21 Quarter: Q4 $1.55B
Latest Quarter: Q1 $1.49B
No. of Employees: 9,793
Global Headquarters: Sunnyvale, Calif.
KEY EXECUTIVES:
Gary S. Guthart, Ph.D., CEO
Jamie Samath, CFO
Myriam J. Curet, MD, FACS, Exec. VP and Chief Medical Officer
Bob DeSantis, Exec. VP and Chief Product Officer
Brian Miller, Ph.D., Chief Digital Officer
Dave Rosa, Exec VP and Chief Strategy and Growth Officer
Michelle DiMartino, Chief Human Resources Officer
A week and a half before Christmas, robotic-assisted surgical technology maker Intuitive Surgical announced that the number of da Vinci surgical robotic procedures had surpassed 10 million.
The flagship surgical robot was FDA approved in 2000, and since has gathered an installed base of over 6,500 in 67 countries. Approximately 55,000 surgeons worldwide are trained to use the robot. da Vinci assists in almost 70 different surgical specialties, including urology, gynecology, thoracic surgery, general surgery, and transoral surgery.
“The growing base of clinical evidence—nearly 30,000 studies on robotic-assisted surgery—and the increasing ability of surgeons, hospitals, and healthcare systems to assess their own data and patient outcomes, have been major drivers of surgeon adoption and the procedure growth that follows,” CEO Gary Guthart told the press in December.
In the following two decades, the firm has released the da Vinci X, Xi, and single-port systems, the latter of which earned FDA approval for urology procedures in 2018 and radical tonsillectomy and tongue base resection in 2019. According to trial results from this year’s American Urological Association meeting, uro-oncologic surgical patients reported better cosmetic and pain outcomes using the single-port system against the multi-port version.
“Symptomatic and cosmetic advantages are present at the 20-day follow up, with better scar appearance being significant also 90 days after surgery,” the study authors reported in The Journal of Urology in May.
Until the COVID-19 pandemic stifled 2020 sales into a decline, Intuitive has been steadily climbing the Top 30. In just five years the firm has risen six spots in the list of the medtech elite with over $3 billion of revenue growth in the company’s pockets. 2021’s sales of $5.71 billion made up for lost time from COVID, growing by nearly a third over the previous fiscal year (ended Dec. 31).
Intuitive shook up its leadership in October by creating two new functional organizations: Strategy and Growth, and Global Business Services. Then-CFO Marshall Mohr was named executive VP of Global Business Services and was succeeded by current CFO Jamie Samath, who has been with the company since 2013. Dave Rosa—who has been with Intuitive for 25 years—became executive VP and chief strategy and growth officer. He was succeeded by 18-year Intuitive veteran Henry Charlton in the position of chief commercial officer. All of the employees began these positions on Jan. 1 this year.
Former AdventHealth executive Dr. Monica P. Reed was also appointed to the company’s board of directors last April. Across the Pacific, healthcare executive Yong-Bum Choi was named general manager for South Korea in August.
Robotic surgical instruments and accessories captured $3.1 billion of net sales, rising 26.2%. According to the company, the increase reflected continued procedure adoption.
The company’s only major product announcement last year came from this business in December with the U.S. Food and Drug Administration (FDA) clearance of its fully wristed, 8 mm SureForm curved-tip stapler and reloads for general, thoracic, gynecologic, urologic, and pediatric surgery.
The combination of the 8 mm-diameter instrument shaft and jaws, 120-degree cone of wristed articulation, and curved tip can help better visualize and reach anatomy. It fits through the 8 mm da Vinci instrument cannula to allow different angles of approach as well.
Systems revenue hiked up 43.7% with its proceeds of $1.69 billion. Last year saw placement of 668 da Vinci surgical systems compared to 2020’s 432 placements. About 1.6 million da Vinci surgical procedures were performed in 2021.
Intuitive shared preliminary results of the 69-patient PRECIsE trial of its Ion endoluminal system for peripheral nodule lung biopsy in October. An 83% average diagnostic yield was reached, with 82% of 1-2 cm nodule cases spotted and 85% for those between 2-3 cm. Sensitivity for malignancy from biopsy samples was 84%-88%. No serious adverse events were reported. As of the second quarter of last year, there were over 70 Ion systems installed in U.S. hospitals.
These preliminary results of 69 subjects with up to 14-month follow up for applicable subjects are a subset of the study’s total of 365 patients, who were enrolled across six medical centers beginning in March 2019.
Services revenue makes up the remainder of Intuitive’s business—it rose 26.7% to come to rest at $962 million. The increase was primarily driven by the growth of the base of installed da Vinci Surgical Systems producing service revenue, as well as effects of the Customer Relief Program in the prior year that caused an $80 million decrease in service revenue in 2020. The installed base of da Vinci Surgical Systems grew 12% to approximately 6,730 as of last year.