Vicarious Surgical Enters Long-Term Lease, Expanding Footprint for Continued Growth

Rhea-AI Summary

Vicarious Surgical (NYSE: RBOT, RBOT WS) announced a long-term lease for an additional 30,000 square feet in Waltham, MA, expanding its manufacturing capacity. This new facility will feature four operating rooms for research and testing, enhancing development and hospital engagement. CEO Adam Sachs emphasized that this expansion is vital for innovation and commercialization of their robotics technology aimed at improving surgical efficiency and patient outcomes. Established in 2014, Vicarious Surgical is known for its FDA-designated Breakthrough Device for minimally invasive surgeries.

Positive

• Expansion of manufacturing facilities with an additional 30,000 square feet.
• Four new operating rooms for demonstration and testing.
• More than doubling capacity for development, testing, and manufacturing.
• Increased engagement potential with hospitals and surgeons.

Negative

• None.

WALTHAM, Mass.--(BUSINESS WIRE)-- Vicarious Surgical Inc. (“Vicarious Surgical” or the “Company”) (NYSE: RBOT, RBOT WS), a next-generation robotics technology company seeking to improve patient outcomes as well as both cost and efficiency of surgical procedures, today announced execution on a long term lease agreement providing an additional 30,000 square feet in Waltham, MA.

The new facility will expand manufacturing facilities and include four operating rooms for demonstration and testing. The facility’s location is directly adjacent to Vicarious Surgical headquarters, representing the second building within the Company’s budding campus.

“Increasing our physical footprint allows us to more than double our capacity for development, testing, and manufacturing; this expansion will ultimately enable Vicarious Surgical to welcome broader hospital and surgeon engagement,” said Adam Sachs, CEO of Vicarious Surgical. “This facility represents a critical step along our path to innovate, commercialize, and scale our business.”

About Vicarious Surgical

Founded in 2014, Vicarious Surgical is a next generation robotics company developing a disruptive technology with the goals of increasing the efficiency of surgical procedures, improving patient outcomes and reducing healthcare costs. The Company’s novel surgical approach uses a combination of proprietary human-like surgical robots and virtual reality to transport surgeons inside the patient to perform minimally invasive surgery. The Company’s technology was granted Breakthrough Device Designation by the FDA, and Vicarious Surgical believes the Vicarious System is the first surgical robot to receive this designation from the FDA. The Company is led by an experienced team of technologists, medical device professionals and physicians, and is backed by technology luminaries including Bill Gates, Vinod Khosla’s Khosla Ventures, Innovation Endeavors, Jerry Yang’s AME Cloud Ventures, Sun Hung Kai & Co. Ltd and Philip Liang’s E15 VC. The Company is headquartered in Waltham, Mass. Learn more at www.vicarioussurgical.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211020006012/en/

Investor Inquiries:

Marissa Bych

Gilmartin Group LLC

ir@vicarioussurgical.com

Press and Media Inquiries:

Jill Gross

Matter Communications

media@vicarioussurgical.com

Source: Vicarious Surgical Inc.

FAQ

What is Vicarious Surgical's recent facility expansion about?

Vicarious Surgical has signed a long-term lease for an additional 30,000 square feet in Waltham, MA, to expand its manufacturing and testing capabilities.

How many new operating rooms will be included in Vicarious Surgical's expansion?

The new facility will include four operating rooms for demonstration and testing.

What benefits will Vicarious Surgical gain from the facility expansion?

The expansion will more than double the company's capacity for development, testing, and manufacturing, allowing for greater engagement with hospitals and surgeons.

What recognition has Vicarious Surgical's technology received?

Vicarious Surgical's technology has received Breakthrough Device Designation from the FDA, making it a significant innovation in surgical robotics.

When was Vicarious Surgical founded?

Vicarious Surgical was founded in 2014.