Intuitive Surgical offers a range of its da Vinci surgical systems, the leading robotics surgical systems on the market. For details about the company’s da Vinci platform, read Delving into the Nuances of the Da Vinci Surgical System. The company’s da Vinci Sp is the latest technological innovation in the company’s surgical systems. The da Vinci Sp is one of the key innovations the company is investing in and is expected to be a key growth driver for the company in 2017 and beyond. The below diagram lists the major investments of the company.
In April 2014, the da Vinci Sp surgical system received FDA (US Food and Drug Administration) 510(k) approval for urological surgical procedures in adults using a single-port approach with the da Vinci Si system. However, the company hasn’t yet commercialized the system and is upgrading its Sp technology to be compatible with its da Vinci Xi system. The commercialization of the da Vinci Sp technology is expected by mid-2018.
Intuitive Surgical’s da Vinci Sp sees competition from Medtronic’s (MDT) Flex system primarily for transoral procedures. Other potential competitors in the market are TransEnterix (TRXC) and Verb Surgical, a joint venture of Johnson & Johnson (JNJ) and Alphabet (GOOGL). The launch of da Vinci Sp is expected to drive ISRG’s stock significantly higher, while its competitors might witness a fall in their stock prices. Any such event might also impact the PowerShares QQQ (QQQ), which holds ~0.54% of its total holdings in Intuitive Surgical.
Why is da Vinci Sp said to be the company’s most robust platform innovation?
As per the company, “the system consists of a single 25 mm cannula equipped with three fully articulating EndoWrist Sp Instruments and a 3D HD camera.” The system is compatible with da Vinci Xi Surgical systems.
The system enables doctors to perform surgeries through a single-incision laparoscopic approach. The company will be initiating US IDE (investigational device exemption) site trials for transoral and colorectal surgery indications of da Vinci Sp, but the company hasn’t yet provided timelines. However, the Asia site trials are already in progress. The company announced its plans for the da Vinci Sp software launch before its urology 510(k) submission in 2H17.