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ISRG's dual strategy extends da Vinci systems to ASCs while expanding Ion's adoption.
Intuitive Surgical’s (ISRG - Free Report) Ion platform is quietly emerging as a strategic lever in one of the fastest-growing segments of healthcare delivery — ambulatory surgical centers (ASCs). With procedures shifting from hospital inpatients to outpatient settings, particularly in minimally invasive diagnostics, Ion may represent the company’s most direct entry point into this trend.
Ion, designed for minimally invasive lung biopsy and diagnostics, saw procedures surge 52% year over year in the second quarter of 2025, with utilization per installed system up 8%. This was primarily because payors and providers increasingly favored ASCs for their efficiency and cost-effectiveness. Lung cancer screening programs and the rising prevalence of pulmonary nodules further amplify the demand for less invasive, outpatient-friendly technologies.
Management has been clear about its vision — newer platforms like Ion are being positioned for high-volume centers, while legacy systems such as Xi and X are migrating into ASCs. This dual-pronged approach gives ISRG a chance to deepen its hospital presence with da Vinci 5 while simultaneously unlocking new growth by extending robotic access to lower-cost outpatient facilities.
The strategy could resonate strongly with customers. Hospitals benefit from installing the latest systems in their flagship locations, while shifting older but still capable platforms into satellite ASCs allows them to capture outpatient volume without incremental capital strain. At the same time, Ion offers ASC operators a differentiated technology in lung diagnostics, aligning with broader trends in early detection and minimally invasive intervention.
The key question for investors is whether Ion’s growth trajectory can scale to materially impact Intuitive Surgical’s revenue mix. With under 1,000 installed systems, Ion is still early in adoption, but its fit with the ASC model suggests significant headroom. If execution holds, Ion could prove to be Intuitive Surgical’s vehicle for capturing the outpatient wave in minimally invasive lung care.
Peer Updates
Apart from Intuitive Surgical, several other medtech players also offer ASC-targeted solutions or have the product architecture and scale to pivot meaningfully in that direction. Leading companies include Boston Scientific (BSX - Free Report) and Becton, Dickinson & Company (BDX - Free Report) , popularly known as BD.
Boston Scientific offers a robust suite of ASC-tailored products and services designed to streamline ambulatory surgery center workflows, reduce costs, and enhance procedural efficiency. Under its ASC Solutions brand, Boston Scientific supports GI-oriented outpatient centers with modular offerings such as scope repair services (via Agiliti), infection-prevention tools, and single-use hemostasis and resection devices.
Meanwhile, its NextLab program is marketed to both ASCs and office-based labs (OBLs), bundling vascular, cardiology devices, and practice-management tools including inventory scanning (Lab Agent) and connectivity support.
The product lineup spans vascular access tools, guidewires, balloons, stents, diagnostic catheters, and adjunct devices tailor-made for outpatient/interventional settings. In the GI domain, Boston Scientific promotes endoscopy accessories (clips, snares, stents, suturing systems) for ambulatory surgical applications.
BD has developed a comprehensive portfolio tailored for ASCs, addressing both clinical and operational needs. Its offerings span preoperative skin preparation with solutions like ChloraPrep and PurPrep, surgical irrigation through the Surgiphor Antimicrobial Irrigation System, and advanced hemostasis tools including Arista and Avitene absorbable hemostats.
For outpatient hernia procedures, BD provides meshes and fixation systems such as Ventralex and OptiFix. BDX also enhances efficiency with Pyxis MedBank systems for medication management and quality solutions programs to improve workflow and safety. Together, BD’s products help ASCs deliver cost-effective, high-quality surgical care.
ISRG’s Price Performance, Valuation and Estimates
Shares of ISRG have lost 16.3% in the year-to-date period compared with the industry’s decline of 10.1%.
Image Source: Zacks Investment Research
From a valuation standpoint, Intuitive Surgical trades at a forward price-to-earnings ratio of 48.69, above the industry average. But, it is still lower than its five-year median of 71.62. ISRG carries a Value Score of D.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Intuitive Surgical’s 2025 earnings implies an 11.2% rise from the year-ago period’s level.
Image: Shutterstock
Can Ion Emerge as ISRG's Vehicle to Tap Ambulatory Care Growth?
Key Takeaways
Intuitive Surgical’s (ISRG - Free Report) Ion platform is quietly emerging as a strategic lever in one of the fastest-growing segments of healthcare delivery — ambulatory surgical centers (ASCs). With procedures shifting from hospital inpatients to outpatient settings, particularly in minimally invasive diagnostics, Ion may represent the company’s most direct entry point into this trend.
Ion, designed for minimally invasive lung biopsy and diagnostics, saw procedures surge 52% year over year in the second quarter of 2025, with utilization per installed system up 8%. This was primarily because payors and providers increasingly favored ASCs for their efficiency and cost-effectiveness. Lung cancer screening programs and the rising prevalence of pulmonary nodules further amplify the demand for less invasive, outpatient-friendly technologies.
Management has been clear about its vision — newer platforms like Ion are being positioned for high-volume centers, while legacy systems such as Xi and X are migrating into ASCs. This dual-pronged approach gives ISRG a chance to deepen its hospital presence with da Vinci 5 while simultaneously unlocking new growth by extending robotic access to lower-cost outpatient facilities.
The strategy could resonate strongly with customers. Hospitals benefit from installing the latest systems in their flagship locations, while shifting older but still capable platforms into satellite ASCs allows them to capture outpatient volume without incremental capital strain. At the same time, Ion offers ASC operators a differentiated technology in lung diagnostics, aligning with broader trends in early detection and minimally invasive intervention.
The key question for investors is whether Ion’s growth trajectory can scale to materially impact Intuitive Surgical’s revenue mix. With under 1,000 installed systems, Ion is still early in adoption, but its fit with the ASC model suggests significant headroom. If execution holds, Ion could prove to be Intuitive Surgical’s vehicle for capturing the outpatient wave in minimally invasive lung care.
Peer Updates
Apart from Intuitive Surgical, several other medtech players also offer ASC-targeted solutions or have the product architecture and scale to pivot meaningfully in that direction. Leading companies include Boston Scientific (BSX - Free Report) and Becton, Dickinson & Company (BDX - Free Report) , popularly known as BD.
Boston Scientific offers a robust suite of ASC-tailored products and services designed to streamline ambulatory surgery center workflows, reduce costs, and enhance procedural efficiency. Under its ASC Solutions brand, Boston Scientific supports GI-oriented outpatient centers with modular offerings such as scope repair services (via Agiliti), infection-prevention tools, and single-use hemostasis and resection devices.
Meanwhile, its NextLab program is marketed to both ASCs and office-based labs (OBLs), bundling vascular, cardiology devices, and practice-management tools including inventory scanning (Lab Agent) and connectivity support.
The product lineup spans vascular access tools, guidewires, balloons, stents, diagnostic catheters, and adjunct devices tailor-made for outpatient/interventional settings. In the GI domain, Boston Scientific promotes endoscopy accessories (clips, snares, stents, suturing systems) for ambulatory surgical applications.
BD has developed a comprehensive portfolio tailored for ASCs, addressing both clinical and operational needs. Its offerings span preoperative skin preparation with solutions like ChloraPrep and PurPrep, surgical irrigation through the Surgiphor Antimicrobial Irrigation System, and advanced hemostasis tools including Arista and Avitene absorbable hemostats.
For outpatient hernia procedures, BD provides meshes and fixation systems such as Ventralex and OptiFix. BDX also enhances efficiency with Pyxis MedBank systems for medication management and quality solutions programs to improve workflow and safety. Together, BD’s products help ASCs deliver cost-effective, high-quality surgical care.
ISRG’s Price Performance, Valuation and Estimates
Shares of ISRG have lost 16.3% in the year-to-date period compared with the industry’s decline of 10.1%.
Image Source: Zacks Investment Research
From a valuation standpoint, Intuitive Surgical trades at a forward price-to-earnings ratio of 48.69, above the industry average. But, it is still lower than its five-year median of 71.62. ISRG carries a Value Score of D.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Intuitive Surgical’s 2025 earnings implies an 11.2% rise from the year-ago period’s level.
Image Source: Zacks Investment Research
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.