Vicarious Surgical RBOT has announced a strategic development agreement with LSU Health New Orleans, Louisiana's premier academic health sciences center. This collaboration grants Vicarious Surgical access to LSU Health's extensive network and expertise, promising significant advancements for the company's V1.0 surgical robot. The partnership aims to refine training protocols, foster surgeon adoption and drive innovation in robotic surgery.
Vicarious Surgical is a pioneering surgical robotics company aiming to revolutionize surgery with human-like robots that enable minimally invasive procedures. Its technology enhances surgical efficiency, improves patient outcomes and reduces healthcare costs. LSU Health New Orleans, the state's premier health sciences university, educates healthcare professionals across multiple campuses and drives significant economic impact through its advanced research and patient care. This collaboration promises to advance surgical practices and healthcare delivery.
Significance of the Partnership
Per Vicarious Surgical, the strategic agreement holds immense potential for both entities. For Vicarious, the partnership offers a direct line to experienced robotic surgeons and supportive staff, providing invaluable insights and feedback essential for the development of its V1.0 surgical robot.
LSU Health New Orleans, emphasizing physician training and education, stands to benefit from cutting-edge technology and collaborative opportunities with a leading innovator in surgical robotics. This collaboration could significantly accelerate the validation and adoption of Vicarious Surgical's robotic platform, ultimately improving surgical outcomes and reducing healthcare costs.
More on the News
The Vicarious Surgical robotic platform, Version 1.0 (V1.0), is designed to enhance surgical efficiency, improve patient outcomes and reduce healthcare costs by using human-like robots for minimally invasive procedures.
In March 2024, Vicarious Surgical reaffirmed its commitment to submitting V1.0 for FDA approval by early- to mid-2026, with cadaveric testing projected for spring and final refinements scheduled for fall.
Industry Prospects
Per a report in Global Market Insights, the surgical robots market was worth $7.1 billion in 2023. It is anticipated to reach $26.4 billion by 2032 at a CAGR of 16.1%.
The robust growth is likely to be primarily driven by the surging adoption of surgical robots, the rising number of surgical procedures, growing healthcare expenditures and the increasing prevalence of chronic diseases.
Price Performance
Shares of RBOT have decreased 45.6% so far this year against the 3.6% rise of the industry. The S&P 500 has witnessed a 10% rise in the same time frame.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Currently, Vicarious Surgical carries a Zacks Rank #3 (Hold).
Some top-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) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
Universal Health Services 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% increase.
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