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Mazor Robotics: Surgical Precision
03/02/2017 7:00 am EST
Mazor Robotics (MZOR) is an Israeli-based medical device company engaged in the development of miniature semi-robotic, bone-mounted positioning systems for orthopedic procedures, explains Todd Shaver, editor of BullMarket.com.
Mazor’s flagship product, Renaissance Surgical Guidance System, transforms spine surgery from a freehand procedure to a robotic-guided procedure.
The company’s core technologies and clinical pipeline include surgical robotics, robotic-guided implants, new procedures using these technologies, and medical 3D imaging for surgery.
The company officially launched the Mazor X system in October, and recent results appear to support an ongoing increase in surgeon interest.
Mazor is at a key inflection point having generated record sales in the quarter. The 21 systems ordered during the quarter illustrate strong ongoing demand.
There were 25 system orders the previous quarter, including a 15-system initial order from Medtronics (MDT). To put this in perspective, the company sold 25 systems worldwide in 2015.
The Mazor X platform expands the field of spine surgery by assisting surgeons with a total patient treatment strategy.
Following their recently formed partnership with Medtronic and the increased market access it provides them, the launch of the Mazor X positions them for accelerated growth and long term leadership in the spine market.
Until this quarter, Mazor had never received an initial multi-system order. It received two of these this quarter, each for three systems which signals that these customers have high confidence in the value of the technology.
The installed base increased to 149, from 108 in the prior year, up 38%. The majority of growth was driven by the U.S., where the installed base of 94 systems grew 47% from last year from 64 systems in 4Q15.
The international installed base grew 27%, to 56 systems. We see the current situation to be a buying opportunity.
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