Intuitive Acquires Orpheus Medical to Expand Informatics Platform for Hospitals

Date : 02/10/2020 @ 9:01PM
Source : GlobeNewswire Inc.
Stock : Intuitive Surgical Inc (ISRG)
Quote : 503.79  -6.71 (-1.31%) @ 5:00AM
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Intuitive Acquires Orpheus Medical to Expand Informatics Platform for Hospitals

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Intuitive (Nasdaq: ISRG), a global technology leader in minimally invasive care and the pioneer of robotic-assisted surgery, announced it has acquired privately held Orpheus Medical to deepen and expand its integrated informatics platform.

Orpheus Medical provides hospitals with information technology connectivity, as well as expertise in processing and archiving surgical video.

“The addition of Orpheus will provide customers —including surgeons, patient care teams and hospitals—with ready access to and a deeper understanding of their data, which we believe may help our customers improve patient outcomes and lower total treatment costs,” said Julian Nikolchev, Intuitive’s senior vice president of corporate development and strategy.

Orpheus develops and distributes its clinical video management and analytics platform, which hospitals use across surgical disciplines. The platform offers the ability to capture and share clinical video and imaging from many sources, which may help improve physician and OR care team workflow and enable analysis of their interventions.

“Combining both companies’ innovative technologies with Intuitive’s global reach and resources will enable current and future customers easier and faster access to their data,” said Gaddi Menahem, CEO of Orpheus Medical.

Orpheus will be a wholly owned subsidiary of Intuitive. Terms of the acquisition were not disclosed.

About Intuitive Intuitive (Nasdaq: ISRG), headquartered in Sunnyvale, Calif., is a global technology leader in minimally invasive care and the pioneer of robotic-assisted surgery. At Intuitive, we believe that minimally invasive care is life-enhancing care. Through ingenuity and intelligent technology, we expand the potential of physicians to heal without constraints.

Intuitive brings more than two decades of leadership in robotic-assisted surgical technology and solutions to its offerings, and develops, manufactures and markets the da Vinci® surgical system and the Ion™ endoluminal system.

About the da Vinci Surgical System There are several models of the da Vinci surgical system. The da Vinci surgical systems are designed to help surgeons perform minimally invasive surgery. Da Vinci systems offer surgeons high-definition 3D vision, a magnified view, and robotic and computer assistance. They use specialized instrumentation, including a miniaturized surgical camera and wristed instruments (i.e., scissors, scalpels and forceps) that are designed to help with precise dissection and reconstruction deep inside the body.

For more information, please visit the company’s website at www.intuitive.com.

Forward-Looking Statement

This press release contains forward-looking statements, including statements regarding the company’s acquisition of Orpheus Medical. These forward-looking statements are necessarily estimates reflecting the best judgment of the company’s management and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. These forward-looking statements should, therefore, be considered in light of various important factors, including, but not limited to, the following: the risk that Orpheus Medical cannot successfully expand its customer base or grow revenue after closing, risks associated with integrating a newly acquired business outside of the United States, diversion of management and other resources in supporting the newly acquired business, and other risk factors under the heading “Risk Factors” in the Company’s report on Form 10-K for the year ended December 31, 2018, as updated by the Company’s other filings with the Securities and Exchange Commission.  Statements using words such as “estimates,” “projects,” “believes,” “anticipates,” “plans,” “expects,” “intends,” “may,” “will,” “could,” “should,” “would,” “targeted,” and similar words and expressions are intended to identify forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to publicly update or release any revisions to these forward-looking statements, except as required by law.

Contact Global Public Affairs Intuitive Surgical corp.comm@intusurg.com +1-408-523-7337

Source: Intuitive Surgical, Inc.

PN# 1069571-RevA-US-February2020 

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