Surgical Science is strengthening its collaboration with its largest customer, Intuitive, and the company's simulation software will be integrated into all da Vinci 5 surgical systems.
Intuitive is the pioneer of robotic-assisted surgery and a global leader in minimally invasive care, with approximately 9,500 da Vinci surgical systems installed globally. In March 2024 the company received approval from the FDA (Food and Drug Administration) in the United States for its new surgical system, the da Vinci 5.
Annual subscription pricing has been set for the period 2025-2028, with a built-in discount over time as the subscription base expands. For other Intuitive surgical systems, such as the da Vinci Xi surgical system, simulation software will continue to be offered as an optional feature. Surgical Science considers the agreement as fully in line with what has been forecasted for the financial goals for 2026 regarding Intuitive.
This agreement has today been formalized through a signed letter of intent and will now be incorporated into the existing legal framework governing the collaboration. Other terms, including Surgical Sciences' retention of full intellectual property rights to its simulation software, remain unchanged. The new conditions will come into force as of January 1, 2025. The da Vinci 5 surgical systems sold in 2024 will over time also be equipped with simulation.
Surgical Science does not comment on historical or projected future annual revenue from its customers, nor on pricing per robotic system. Comparing Surgical Science's delivery to different robot companies is also not relevant, as the content of the deliveries varies greatly.
"We are very excited about this new phase of our partnership and look forward to supporting Intuitive with simulation solutions for the company's important rollout of da Vinci 5. The outcome of this partnership will further improve healthcare outcomes and help save patients' lives, which is the overarching purpose for both our companies. With more sophisticated and flexible surgical platforms, as well as the focus on quality and efficiency in the operating room, simulation is seen as a must-have technology and asset for robotic surgeons and surgical robotic companies," said Tom Englund, CEO of Surgical Science.
"We are pleased with integrating the Surgical Science simulation technology as part of da Vinci 5, and look forward to continuing our collaboration together," said Intuitive Executive Vice President and Chief Digital Officer Brian Miller.
Gothenburg, Sweden, January 15, 2025
Surgical Science Sweden AB (publ)
*da Vinci 5 surgical system is not CE Marked and cannot be placed on the market nor put into service on applicable markets
This press release, in its entirety, is available through the attachment or via:
https://surgicalscience.com/investor-relations/press-releases
This is a translation of the Swedish version of the press release. When in doubt, the Swedish wording prevails.
For further information, please contact:
Tom Englund, CEO
Telephone: +46-70-916 16 81
E-mail: tom.englund@surgicalscience.com
Anna Ahlberg, CFO
Telephone: +46-70-855 38 35
E-mail: anna.ahlberg@surgicalscience.com
About Surgical Science Sweden AB (publ)
One of the biggest challenges within healthcare globally is reducing injuries incurred during care. Medical education and training are key, especially as a large part of the training can now be performed outside the operating room. Surgical Science is a world leader in the development of virtual reality simulators for evidence-based training. The simulators enable surgeons and other medical specialists to train and improve their psycho-motor skills and instrument handling before entering the clinical environment. Alongside its own products, Surgical Science works with simulation solutions for medical device companies that develop instruments for clinical use, such as robotic surgery.
Surgical Science has approximately 270 employees. The company is headquartered in Gothenburg, Sweden and also has operations in Tel Aviv, Israel, as well as in Stockholm, Sweden and in Seattle and Cleveland, US. Through sales offices in the US and China as well as a global network of distributors, Surgical Science maintains a presence in most markets. Shares in Surgical Science Sweden AB (publ) are traded on Nasdaq First North Growth Market. Certified Adviser is Carnegie Investment Bank AB (publ).
This information is information that Surgical Science Sweden AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-01-15 08:30 CET.
