Microbot Medical Inc. MBOT recently announced that it has entered into an agreement with Emory University, which is likely to allow the entities to evaluate and explore the potential for future collaboration in connection with autonomous robotics in endovascular procedures.
Autonomous robotics has the potential to standardize outcomes, improve efficiencies, reduce radiation exposure, and democratize access to top-level healthcare. The evaluation phase is likely to explore the potential of integrating robotics, procedure planning and navigation into a single autonomous system.
Price Performance
For the past six months, MBOT’s shares have plunged 23.2% against the industry’s growth of 0.2%. The S&P 500 increased 8.3% in the same time frame.
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More on the News
Under the terms of the agreement, Emory University is likely to assume the responsibility of exploring the feasibility of integrating the LIBERTY Endovascular Robotic Surgical System with an imaging system to create an autonomous robotic system for endovascular procedures.
MBOT’s vision for the future of endovascular robotics includes autonomous capabilities, which have the potential to standardize endovascular procedures and improve access to benefit millions of patients globally. The company believes that its LIBERTY system can be integrated with imaging, planning and navigation software to ultimately create an autonomous robotic system that can be used in endovascular procedures.
MBOT also entered into a collaboration agreement with Corewell Health to enable telerobotics in remote centers by utilizing the LIBERTY Endovascular Robotic Surgical System.
More on the LIBERTY Endovascular Robotic Surgical System
Microbot Medical’s LIBERTY Robotic System is the world’s first single-use endovascular robotic system focused on increasing access to robotic technology and revolutionizing the way endovascular procedures are performed. The system eliminates the need for large, cumbersome and expensive capital equipment while reducing radiation exposure and physician strain.
The company believes the LIBERTY Endovascular Robotic Surgical System’s remote operation has the potential to be the first system to democratize endovascular interventional procedures.
In July, Microbot Medical announced that Baptist Hospital of Miami had completed its first clinical procedure in a patient utilizing the LIBERTY Endovascular Robotic Surgical System. Baptist Hospital of Miami is the second site to perform clinical procedures as part of MBOT’s pivotal human clinical trial. The first clinical case was performed at Boston, MA-based Brigham and Women’s Hospital.
This announcement was a significant step for Microbot Medical toward its future submission to the FDA for the commercialization of the LIBERTY Endovascular Robotic Surgical System. It will become the first system to provide remote operation following a potential approval that will likely drive penetration for endovascular interventional procedures.
Industry Prospects
Per a report by Mordor Intelligence, the global surgical robots market size is estimated to be $7.7 billion in 2024. It is expected to witness a growth rate of 9.07% to reach $11.8 billion by 2029.
The market is being driven by the escalating need for automation in the healthcare industry, the prevalence of chronic illnesses, the growing elderly population, the complexity of surgical procedures, and the expanding desire for non-invasive operations with more accuracy and adaptability.
Zacks Rank & Stocks to Consider
MBOT carries a Zacks Rank #3 (Hold) at present.
Some better-ranked stocks in the broader medical space are Universal Health Service UHS, Quest Diagnostics DGX and ABM Industries ABM. While Universal Health Service sports a Zacks Rank #1 (Strong Buy), Quest Diagnostics and ABM Industries carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Universal Health Service has an estimated long-term growth rate of 19%. UHS’ earnings surpassed estimates in each of the trailing four quarters, with the average being 14.58%.
Universal Health Service has gained 41.1% compared with the industry's 34.8% rise so far this year.
Quest Diagnostics has an estimated long-term growth rate of 6.20%. DGX’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 3.31%.
Quest Diagnostics shares have gained 3.7% so far this year compared with the industry’s 10.2% rise.
ABM Industries’ earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 7.34%.
ABM's shares have risen 24.1% so far this year compared with the industry’s 11.9% growth.
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