Medtronic (MDT) Hugo RAS System Used for 1st Clinical Procedure
Medtronic plc MDT recently performed the first clinical procedure with the Hugo robotic-assisted surgery (RAS) system in the Asia-Pacific region. The robotic prostatectomy was performed at Apollo Hospitals in Chennai, India.
Robotic surgery is a form of minimally-invasive surgery that offers fewer complications, shorter hospital stays, faster return to normal activities, and smaller scars.
The Hugo RAS system is expected to bolster the Surgical Robotics business, which is part of Medtronic’s Medical Surgical Portfolio. The latest development aligns with the company’s surgical robotics vision to broaden access to quality care and expand its reach across more regions.
More on Hugo RAS System
Medtronic’s Hugo RAS system is a modular, multi-quadrant platform intended for a broad range of soft-tissue procedures. It combines wristed instruments, 3D visualization, and Touch Surgery Enterprise with committed support teams specializing in robotics program optimization, service, and training.
The Hugo RAS system is commercially available in certain geographies. However, regulatory requirements of each country and region will determine approval, clearance or market availability. In 2021, Medtronic announced the first urologic and gynecologic procedure with the Hugo RAS system in Latin America.
Significance of the Hugo RAS System Availability in India
With the availability of the Hugo RAS system in India, Medtronic is developing robotic-assisted surgery solutions that are optimized as per clinicians’ requirement and that can be upgraded as the technology evolves and usage expands in the future.
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Per Apollo’s management, the addition of the Hugo RAS system to Apollo’s robotic surgery program as the first hospital in Asia Pacific to use this new technology strengthens the dedication and the pride for Apollo Hospitals as a premier destination for minimally-invasive surgery. The technology will complement the excellent clinical expertise acquired by Apollo’s physicians over the years and is intended to help improve patient care.
Recent Developments
In September 2021, Medtronic published new clinical data from the NAVABLATE study released in the late-breaking presentation at the virtual European Respiratory Society International Congress 2021. The NAVABLATE study highlights the much-expected safety and performance results on microwave ablation used bronchoscopically with the Emprint Ablation Catheter Kit with Thermosphere Technology in combination with the Medtronic electromagnetic navigation bronchoscopy system.
In July 2021, Medtronic announced the integration of its Hugo RAS system at Hospital Clinico de la Red de Salud UC CHRISTUS in Santiago, Chile, to support the teaching institution's new robotic surgery program. UC CHRISTUS is the latest entrant to Medtronic's Partners in Possibility Program. This program consists of a group of pioneering hospitals that will be among the first in the world to use the Hugo RAS system in support of the Hugo system patient registry.
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 driving market growth include several benefits of robotic-assisted surgery, growing funds for robotic research, increasing adoption of surgical robots and advanced visualization capabilities associated with robotic-assisted surgeries.
Price Performance
Shares of the company have gained 25.3% in a year’s time compared with the industry’s rise of 12.1%.
Zacks Rank and Key Picks
Currently, Medtronic carries a Zacks Rank #3 (Hold).
A few better-ranked stocks from the broader medical space are Envista Holdings Corporation NVST, BellRing Brands, Inc. BRBR and Biolase, Inc. BIOL, each carrying a Zacks Rank #2 (Buy). You can see the complete list of Zacks #1 Rank (Strong Buy) stocks here.
Envista Holdings has an estimated long-term earnings growth rate of 27%.
BellRing Brands has an estimated long-term earnings growth rate of 29%.
Biolase has a projected long-term earnings growth rate of 15%.
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