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Company Overview
PROCEPT BioRobotics Corporation is a Silicon Valley-based surgical robotics company dedicated to transforming urologic patient care through innovative, minimally invasive solutions. With a deep commitment to clinical excellence, the company designs and manufactures advanced robotic systems that empower surgeons to perform precise procedures with predictable and reproducible outcomes.
Innovative Robotic Solutions
At its core, PROCEPT BioRobotics develops the AquaBeam and HYDROS Robotic Systems. These state-of-the-art platforms utilize real-time ultrasound imaging and advanced imaging guidance to enable personalized treatment planning. The AquaBeam system, the world’s first autonomous robotic platform for aquablation therapy, safely removes prostate tissue in cases of benign prostatic hyperplasia (BPH), regardless of anatomical variations or surgeon experience. The HYDROS system further integrates AI capabilities to optimize surgical planning and execution, improving both efficiency and clinical outcomes in urologic procedures.
Clinical Excellence and Evidence
The company’s approach is underscored by a robust body of clinical data, with over 150 peer-reviewed publications and multiple clinical trials validating the safety and efficacy of aquablation therapy. Surgeons benefit from a technology that delivers fast, consistent, and reproducible results. The focus on minimally invasive techniques is designed not only to reduce recovery time and complications but also to preserve critical functions such as sexual function and continence, thereby enhancing overall patient quality of life.
Advanced Technology and Real-Time Imaging
Through its image-guided surgical systems, PROCEPT BioRobotics provides surgeons with a multidimensional view of the prostate, allowing for precise tissue resection. The real-time ultrasound imaging incorporated into the robotic platforms ensures that each procedure is tailored to the unique anatomical characteristics of each patient. This level of personalization in treatment planning is crucial for achieving optimal clinical outcomes, demonstrating the company’s expertise in merging robotics, imaging technology, and surgical precision.
Market Position and Competitive Landscape
Operating within the highly specialized field of urologic surgical robotics, PROCEPT BioRobotics holds a distinctive position by focusing on treatments for BPH, a prevalent condition affecting millions of men in the United States. By pioneering aquablation therapy, the company has established itself as a credible innovator in an industry that demands rigorous clinical validation and continuous technological advancement. The combination of advanced robotics and a significant repository of clinical evidence sets the company apart from other medical device manufacturers, ensuring that its solutions remain relevant and trustworthy to both healthcare professionals and the broader medical community.
Operational Footprint and Product Strategy
While a majority of its revenue is generated in the United States, the company’s impact is increasingly global. PROCEPT BioRobotics is committed to expanding market access through strategic installations and consistent performance improvements across its product lines. With products that are designed to work effectively regardless of prostate size or shape, the company addresses a wide spectrum of patient profiles, enhancing its appeal within the diverse and competitive landscape of medical devices.
Commitment to Innovation and Quality
Innovation is central to the company’s ethos. Combining cutting-edge robotics with artificial intelligence, PROCEPT BioRobotics continually evolves its product offerings to meet the rigorous demands of modern urologic surgery. The operational philosophy emphasizes safety, efficiency, and clinical accuracy, ensuring that each robotic system not only meets but exceeds the necessary standards for transformational patient care. The company’s notable emphasis on clinical research and validation further reinforces its role as an authoritative and trusted player in the surgical robotics arena.
Summary
In summary, PROCEPT BioRobotics Corporation is a trailblazer in the field of surgical robotics, specializing in transformative solutions for urologic conditions such as BPH. By marrying innovative robotic technology with extensive clinical evidence, the company has redefined the parameters of minimally invasive surgery. Its dedication to advancing surgical precision and patient safety positions it as an essential contributor to modern urologic care. Investors and healthcare stakeholders seeking comprehensive insights into advanced medical device technologies will find this company’s approach both compelling and indicative of its expertise in the ever-evolving landscape of surgical robotics.
PROCEPT BioRobotics Corporation (Nasdaq: PRCT) reported strong financial results for Q1 2023, with total revenue of $24.4 million, up 72% year-over-year. U.S. handpiece and consumables revenue surged 165% to $11.8 million, while system and rental revenue increased 13% to $8.8 million. The company raised its 2023 revenue guidance to $128 million, a 71% growth from the previous year. PROCEPT also received a positive coverage policy from United Healthcare and signed a national sales contract with a significant U.S. integrated delivery network.
Despite these gains, the net loss widened to $28.5 million from $17.2 million in the prior year. Operating expenses rose to $40.9 million, reflecting increased sales and marketing investments. Gross margin decreased to 51% from 54%.
PROCEPT BioRobotics Corporation (Nasdaq: PRCT) announced it will report its financial results for Q1 2023 on April 27, 2023, before market open. A conference call is scheduled for the same day at 8:00 a.m. Eastern Time. The company is focused on innovations in urology and has developed the AquaBeam Robotic System for minimally invasive surgeries to treat benign prostatic hyperplasia (BPH), affecting about 40 million men in the U.S. PROCEPT BioRobotics emphasizes the effectiveness and safety of its Aquablation therapy, supported by a substantial clinical evidence base, including nine studies and over 150 peer-reviewed publications. Additionally, management will present at the Bank of America 2023 Health Care Conference on May 10, 2023.
PROCEPT BioRobotics Corporation (PRCT) announced that United Healthcare updated its Prostate Surgeries and Interventions Policy Bulletin, confirming Aquablation therapy as medically necessary for treating lower urinary tract symptoms (LUTS) due to benign prostatic hyperplasia (BPH). Effective June 1, 2023, this policy enhances accessibility for patients, potentially providing access to approximately 95% of men in the U.S. The Aquablation therapy employs an automated robotic system that uses heat-free waterjet technology, backed by successful FDA trials demonstrating its safety and efficacy.
PROCEPT BioRobotics Corporation (Nasdaq: PRCT) announced an in-person investor event on April 28, 2023, during the American Urological Association Annual Meeting in Chicago. This event will feature remarks from key executives and a surgeon panel discussing the benefits of Aquablation therapy, which addresses benign prostatic hyperplasia (BPH). Attendees include CEO Reza Zadno and other senior executives. A live webcast of the event will be available on the company's website for at least 90 days. PROCEPT BioRobotics is focused on developing robotic systems for minimally invasive urologic surgery, with significant clinical evidence supporting its Aquablation therapy.
PROCEPT BioRobotics Corporation announced that its Aquablation Therapy for benign prostate hyperplasia (BPH) has received a MedTech Innovation Briefing (MIB) from the National Institute for Health Care Excellence (NICE) in the UK. The therapy is recognized as equally effective as traditional TURP, with clinical experts noting its innovative nature, ability to preserve sexual function, and potential to replace TURP. Aquablation is the first robotic surgical system to obtain a MIB, validating its safety and durability compared to TURP. PROCEPT BioRobotics emphasizes its commitment to advancing patient care through transformative urological solutions.
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