Intuitive (Nasdaq: ISRG), a global technology leader in minimally
invasive care and the pioneer of robotic-assisted surgery, today
provided an update on its efforts to support customers,
communities, and its employees during the COVID-19 pandemic.
“The COVID-19 pandemic presents unprecedented
challenges to global health care systems, care teams, and
communities,” said Intuitive CEO Gary Guthart. “Intuitive is
focused on the health and safety of our customers, our communities
and our employees, through policies and initiatives designed to
help.”
Communities
Intuitive and the Intuitive Foundation are working
to assemble, donate, and distribute personal protective equipment
(PPE) to hospitals and healthcare facilities. To date, more than
100,000 pieces of PPE have been sourced or built, and then donated
for distribution throughout the U.S. The company’s goal is to
manufacture and donate 1 million more face shields globally.
The Intuitive Foundation is also connecting
employees with opportunities to volunteer in their communities.
This includes a DIY face mask initiative and engagement with
healthcare and essential service-oriented non-profits and
organizations. The Foundation (established in 2018 with a $25
million gift from Intuitive), has also started a COVID-19 specific
employee matching donation drive.
Employees
Intuitive has taken numerous measures to minimize
the spread of COVID-19 while continuing to provide essential
services and support to customers. Intuitive implemented a
work-from-home policy for the majority of employees globally. For
employees who cannot work from home, Intuitive has implemented
additional health and safety measures, including maximizing working
space, changing shift schedules, and instituting mandatory
screening and temperature checks.
Intuitive has implemented an expanded paid and sick
leave program to support employees who are unable to work due to
family care responsibilities, underlying health issues,
connectivity issues, or other unique circumstances. The company is
also providing premium pay for essential team members who continue
to supply customers with the products needed to care for patients.
In addition, there are Employee Assistance Programs that have been
developed or expanded to provide services and resources specific to
the needs of employees at this time.
Customers
Intuitive recognizes the economic toll that
COVID-19 has taken on hospitals and healthcare systems, and is
introducing a series of programs to provide financial relief to
customers. Informed by customer needs, and recognizing the unique
challenges each customer faces, this financial support will be
customized and may include service credits, warranty extensions,
and more flexible payment terms. Intuitive expects that the
estimated value of this financial support will range between $90
million and $130 million, and will not exceed $205 million.
“As different regions move through various stages
of recovery, we believe that da Vinci surgery is an important
minimally invasive option for hospitals and surgeons to offer their
patients,” Guthart said. “Our patients-first focus translates into
doing our part in helping our customers deliver the very best
care.”
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.
For more information on the company’s customer
financial program, please see the company’s 8-K filed on April 28,
2020.
Forward-Looking Statements
This press release contains forward-looking
statements. For example, statements using words such as
“estimates,” “projects,” “believes,” “anticipates,” “plans,”
“expects,” “intends,” “may,” “will,” “could,” or “should”.
These forward-looking statements are necessarily estimates
reflecting the best judgment of management and involve a number of
risks and uncertainties that could cause actual results to differ
materially from those suggested by such statements. They
should, therefore, be considered in light of various important
factors, including, but not limited to, the following: our ability
to obtain accurate procedure volume in the midst of the COVID-19
pandemic, the risk that the COVID-19 pandemic could lead to
material delays and cancellations of procedures and our actual
costs of the customer relief program may be higher than estimated,
curtailed or delayed capital spending by hospitals and disruption
to our supply chain, closures of our facilities, delays in surgeon
training, delays in gathering clinical evidence, diversion of
management and other resources to respond to the COVID-19 outbreak;
the evaluation of the risks of robotic-assisted surgery in the
presence of infectious diseases, the impact of global and regional
economic and credit market conditions on healthcare spending; the
risk that the COVID-19 virus disrupts local economies and causes
economies to enter prolonged recessions and other risk factors
under the heading “Risk Factors” in our report on Form 10-K for the
year ended December 31, 2019, as updated by our other filings with
the Securities and Exchange Commission.
Contact Global Public Affairs
Intuitive Surgical corp.comm@intusurg.com
+1-408-523-7337
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