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Medtronic (MDT) Reports First Procedure in Europe With Hugo RAS
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Medtronic plc (MDT - Free Report) recently announced that the first clinical procedure in Europe with the Hugo robotic-assisted surgery (RAS) system has been performed at the OLV Hospital in Aalst, Belgium. In 2021, the first urologic and gynecologic procedures with the Hugo system were performed in Latin America and the Asia Pacific. These procedures and cases in Europe will be added to the Hugo RAS system patient registry, intended to collect clinical data to support regulatory submissions worldwide.
It is worth noting that the OLV Hospital Aalst is the first hospital in Europe to offer the Hugo RAS system and the first in the world to have both of Medtronic's RAS platforms-- the Hugo system for soft tissue and the Mazor system for spinal surgery.
Management at Medtronic believes that its partnership with OLV Hospital Aalst will allow the company to bring the benefits of robotic-assisted surgery to more patients in Europe. This is likely to bolster the company’s Surgical Robotics business, part of the Medical Surgical Portfolio at Medtronic.
Few Words on Hugo RAS
The Hugo RAS system is a modular, multi-quadrant platform developed for a broad range of soft-tissue procedures. It is Medtronic's solution to historical cost and utilization obstacles that kept surgical robotics out of reach for many hospitals. Per Medtronic’s management, the Hugo RAS system has been designed to address today's challenges to adoption in a future-proofed manner.
With dedicated support teams specializing in robotics program optimization, service, and training, the Hugo RAS integrates wristed instruments, 3D visualization, and Touch Surgery Enterprise. For investors’ note, the Touch Surgery Enterprise is a cloud-based surgical video capture and management solution with dedicated support teams specializing in robotics program optimization, service and training.
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The Hugo RAS system is commercially available in some regions. The Hugo RAS system is CE-marked in the European Union, has a medical device license in Canada and is also authorized in Australia. However, the Hugo RAS system is an investigational device that is not available for sale in the United States.
Industry Prospects
Per a report published in MarketsandMarkets, the global surgical robots market is expected to see a CAGR of 17.6% during 2021 to 2026. Factors such as the growing uptake of surgical robots, technological advancements and increasing funds for robotic research are fuelling market growth. Given the substantial market prospects, the first clinical procedure in Europe with the Hugo RAS system bears strategic significance.
Other Notable Developments
Medtronic engaged in a number of significant developments in January 2022.
The Medtronic Foundation, solely funded by Medtronic, entered into 13 new partnerships with prominent organizations in Minnesota, Northern California and Puerto Rico that support underrepresented and underserved K-12 students. The partnerships are part of the Medtronic Foundation’s larger effort to increase its focus on Science, Technology, Engineering and Math (STEM) and promote equity and representation to enhance the lives of underserved communities.
Medtronic’s Micra AV Transcatheter Pacing System (TPS) was approved for sale and reimbursement by Japan's Ministry of Health, Labor and Welfare. The Micra AV is used to treat patients who have an atrioventricular block. It delivers the benefits of leadless pacing to a greater number of patients.
Share Price Performance
The stock has outperformed its industry over the year. It has declined 13% compared with the industry’s 18% fall.
Zacks Rank and Key Picks
Currently, Medtronic carries a Zacks Rank #4 (Sell).
Owens & Minor has a long-term earnings growth rate of 23.6%. Owens & Minor’s earnings surpassed estimates in the trailing four quarters, delivering a surprise of 32.4%, on average.
Owens & Minor has outperformed the industry over the past year. OMI has gained 30.2% against a 18% industry decline in the said period.
Charles River has a long-term earnings growth rate of 14%. Charles River surpassed earnings estimates in the trailing four quarters, delivering a surprise of 10.6%, on average.
Charles River has gained 21.3% against the industry’s 61.1% drop over the past year.
Cerner has a long-term earnings growth rate of 12.8%. CERN’s earnings surpassed estimates in three of the trailing four quarters and met estimates on another occasion, delivering an average surprise of 3.2%.
Cerner has gained 16.5% against the industry’s 55.9% slump over the past year.
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Medtronic (MDT) Reports First Procedure in Europe With Hugo RAS
Medtronic plc (MDT - Free Report) recently announced that the first clinical procedure in Europe with the Hugo robotic-assisted surgery (RAS) system has been performed at the OLV Hospital in Aalst, Belgium. In 2021, the first urologic and gynecologic procedures with the Hugo system were performed in Latin America and the Asia Pacific. These procedures and cases in Europe will be added to the Hugo RAS system patient registry, intended to collect clinical data to support regulatory submissions worldwide.
It is worth noting that the OLV Hospital Aalst is the first hospital in Europe to offer the Hugo RAS system and the first in the world to have both of Medtronic's RAS platforms-- the Hugo system for soft tissue and the Mazor system for spinal surgery.
Management at Medtronic believes that its partnership with OLV Hospital Aalst will allow the company to bring the benefits of robotic-assisted surgery to more patients in Europe. This is likely to bolster the company’s Surgical Robotics business, part of the Medical Surgical Portfolio at Medtronic.
Few Words on Hugo RAS
The Hugo RAS system is a modular, multi-quadrant platform developed for a broad range of soft-tissue procedures. It is Medtronic's solution to historical cost and utilization obstacles that kept surgical robotics out of reach for many hospitals. Per Medtronic’s management, the Hugo RAS system has been designed to address today's challenges to adoption in a future-proofed manner.
With dedicated support teams specializing in robotics program optimization, service, and training, the Hugo RAS integrates wristed instruments, 3D visualization, and Touch Surgery Enterprise. For investors’ note, the Touch Surgery Enterprise is a cloud-based surgical video capture and management solution with dedicated support teams specializing in robotics program optimization, service and training.
The Hugo RAS system is commercially available in some regions. The Hugo RAS system is CE-marked in the European Union, has a medical device license in Canada and is also authorized in Australia. However, the Hugo RAS system is an investigational device that is not available for sale in the United States.
Industry Prospects
Per a report published in MarketsandMarkets, the global surgical robots market is expected to see a CAGR of 17.6% during 2021 to 2026. Factors such as the growing uptake of surgical robots, technological advancements and increasing funds for robotic research are fuelling market growth. Given the substantial market prospects, the first clinical procedure in Europe with the Hugo RAS system bears strategic significance.
Other Notable Developments
Medtronic engaged in a number of significant developments in January 2022.
The Medtronic Foundation, solely funded by Medtronic, entered into 13 new partnerships with prominent organizations in Minnesota, Northern California and Puerto Rico that support underrepresented and underserved K-12 students. The partnerships are part of the Medtronic Foundation’s larger effort to increase its focus on Science, Technology, Engineering and Math (STEM) and promote equity and representation to enhance the lives of underserved communities.
Medtronic’s Micra AV Transcatheter Pacing System (TPS) was approved for sale and reimbursement by Japan's Ministry of Health, Labor and Welfare. The Micra AV is used to treat patients who have an atrioventricular block. It delivers the benefits of leadless pacing to a greater number of patients.
Share Price Performance
The stock has outperformed its industry over the year. It has declined 13% compared with the industry’s 18% fall.
Zacks Rank and Key Picks
Currently, Medtronic carries a Zacks Rank #4 (Sell).
A few better-ranked stocks in the broader medical space are Owens & Minor, Inc. (OMI - Free Report) , Charles River Laboratories International, Inc. (CRL - Free Report) and Cerner Corporation , each currently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Owens & Minor has a long-term earnings growth rate of 23.6%. Owens & Minor’s earnings surpassed estimates in the trailing four quarters, delivering a surprise of 32.4%, on average.
Owens & Minor has outperformed the industry over the past year. OMI has gained 30.2% against a 18% industry decline in the said period.
Charles River has a long-term earnings growth rate of 14%. Charles River surpassed earnings estimates in the trailing four quarters, delivering a surprise of 10.6%, on average.
Charles River has gained 21.3% against the industry’s 61.1% drop over the past year.
Cerner has a long-term earnings growth rate of 12.8%. CERN’s earnings surpassed estimates in three of the trailing four quarters and met estimates on another occasion, delivering an average surprise of 3.2%.
Cerner has gained 16.5% against the industry’s 55.9% slump over the past year.