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The company added that it also set aside $67.4 million in the first quarter of 2014 and $9.6 million in the second quarter so it could settle a number of product liability claims.
Intuitive is a big player in the surgical robots market, which Grand View Research projects will increase at a compounded annual growth rate of 9.5% until 2030.
Intuitive Surgical is best known for the da Vinci system, a robotic-assisted surgery (RAS) device that allows physicians to perform various procedures, from kidney removals to hernia repairs.
For the fiscal year 2017, Intuitive Surgical reported earnings of US$660 million, with an annual revenue of US$3.129 billion, an increase of 15.7% over the previous fiscal cycle. Intuitive Surgical's shares traded at over $307 per share, and its market capitalization was valued at over US$58 billion in November 2018. [10]
da Vinci patient-side component (left) and surgeon console (right) A surgeon console at the treatment centre of Addenbrooke's Hospital The da Vinci System consists of a surgeon's console that is typically in the same room as the patient, and a patient-side cart with three to four interactive robotic arms (depending on the model) controlled from the console.
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MAKO Surgical was founded in 2004 by Rony Abovitz and other key members of its predecessor Z-KAT, Inc. [9] Z-KAT was founded in 1997 by Rony Abovitz, William Tapia, Michael Peshkin Ph.D., Julio Santos-Munne, and Wayne J. Kerness, M.D. and was developing a novel haptic robotic system for medical applications, amongst a wide variety of computer-assisted surgery technologies.
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