Intuitive Surgical, Inc. (NASDAQ:ISRG) and Shanghai Fosun
Pharmaceutical (Group) Co., Ltd. “Fosun Pharma” (600196.SH),
(HKSE:2196), today announced a joint venture to research, develop,
manufacture and sell innovative, robotic-assisted catheter-based
medical devices.
The joint venture between Intuitive Surgical, the global leader
in robotic-assisted minimally invasive surgery, and Fosun Pharma, a
leading healthcare group strategically comprising the complete
value chain, will initially produce products targeting early
diagnosis and cost-effective treatment of lung cancer, one of the
most commonly diagnosed forms of cancer in the world.
The technology will be used in robotic-assisted medical devices
based on catheters, and incorporates proprietary intellectual
property developed or owned by Intuitive Surgical. The joint
venture will be registered in Shanghai, where it will perform
research and development activities and manufacture catheter-based
products for global distribution. Distribution in China will be
conducted by the joint venture. Distribution outside of China will
be conducted by Intuitive Surgical.
“We are excited to deepen our partnership with Fosun Pharma
focused on delivering innovative healthcare solutions in China and
around the world,” said Dr. Gary Guthart, President and CEO of
Intuitive Surgical. “We are proud to make this important long-term
commitment to China.”
The companies will contribute up to $100 million as required by
the joint venture, an arrangement representing a significant
expansion of Intuitive Surgical’s relationship with Fosun Pharma.
Since 2011, Chindex Medical Limited, a subsidiary of Fosun Pharma,
has been a distribution partner for Intuitive Surgical’s da Vinci
Surgical Systems in China.
“We are pleased to expand our partnership and
advance the development of medical tools to enhance the wellbeing
of global populations, including those in China that suffer from
increased rates of lung cancer,” Chairman of Fosun Pharma, Chen
Qiyu said, “The cooperation will boost the development of Fosun
Pharma’s medical device sector by integrating branding concept,
matching resources and leveraging complementary advantages with
Intuitive Surgical, so as to bring better medical tools for
doctors.”
About Intuitive Surgical, Inc.
Intuitive Surgical, Inc. (Nasdaq:ISRG), headquartered in
Sunnyvale, Calif., is the global leader in robotic-assisted,
minimally invasive surgery. Intuitive Surgical develops,
manufactures and markets the da Vinci® Surgical System.
About Fosun Pharma
Established in 1994, Shanghai Fosun Pharmaceutical (Group) Co.,
Ltd. (“Fosun Pharma”); (600196.SH), (HKSE:2196) is a leading
healthcare Group in the PRC. Fosun Pharma strategically covers
important segments of the healthcare industry value-chain,
including pharmaceutical manufacturing and R&D, healthcare
services, medical diagnosis, medical devices manufacturing and
agent, as well as pharmaceutical distribution and retail, making
contribution to improving people’s health. Fosun Pharma maintains a
National Recognized Enterprise Technology Centre and a highly
capable international R&D team, focusing on innovation and
research of therapeutic areas including cardiovascular system,
central nervous system, blood system, metabolism and alimentary
system, anti-infection and anti-tumor. With its commitment to
innovation for good health and creating a better future, Fosun
Pharma will continue insisting on the strategic development
approach of “organic growth, external expansion and integrated
development,” striving to be one of the leading enterprises in the
global healthcare market.
About the da Vinci Surgical System
There are several models of the da Vinci Surgical System. The da
Vinci Surgical Systems are designed to help surgeons perform
minimally invasive surgery. da Vinci Systems are not programmed to
perform surgery on their own. Instead, the procedure is performed
entirely by a surgeon who controls the system. da Vinci Systems
offer surgeons high-definition 3D vision, a magnified view, and
robotic and computer assistance. They use specialized
instrumentation, including a miniaturized surgical camera and
wristed instruments (i.e., scissors, scalpels and forceps) that are
designed to help with precise dissection and reconstruction deep
inside the body.
Important Safety Information
For Important Safety Information, indications for use, risks,
full cautions and warnings, please refer to
www.davincisurgery.com/safety and
www.intuitivesurgical.com/safety.
Forward-Looking Statement
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, including statements regarding joint venture activities
including research and development, manufacture and distribution of
catheter-based medical devices, the early diagnosis and
cost-effective treatment of lung cancer, Intuitive Surgical’s
commitment to China, da Vinci Surgical Systems as a driver for
improved outcomes and the commencement of research and
manufacturing operations and local hiring efforts. These
forward-looking statements are necessarily estimates reflecting the
best judgment of our management and involve a number of risks and
uncertainties that could cause actual results to differ materially
from those suggested by the forward-looking statements. These
forward-looking statements should, therefore, be considered in
light of various important factors, including those under the
heading "Risk Factors" in our annual report on Form 10-K for the
year ended December 31, 2015 as updated from time to time by our
quarterly reports on Form 10-Q and our other filings with the
Securities and Exchange Commission. Statements using words such as
"estimates," "projects," "believes," "anticipates," "plans,"
"expects," "intends," "may," "will," "could," "should," "would,"
"targeted" and similar words and expressions are intended to
identify forward-looking statements. You are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date of this press release. We undertake no
obligation to publicly update or release any revisions to these
forward-looking statements, except as required by law.
© 2016 Intuitive Surgical, Inc. All rights reserved. Product
names are trademarks or registered trademarks of their respective
holders.
PN 1028555 Rev A 9/2016
Contact
Corporate Communications, Intuitive Surgical
Email: corp.comm@intusurg.com
U.S. Tel: +1 408.523.7337
Twitter: @IntuitiveSurg
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