By Connor Hart
Intuitive Surgical is buying out its technology distributors in Europe.
The Sunnyvale, Calif., medical-technology company on Tuesday said it has entered an agreement with Ab Medica, Abex, Excelencia Robotica and their affiliates to purchase their Intuitive product-related business.
The deal will allow Intuitive to establish a direct presence in Italy, Spain, Portugal, Malta and San Marino, it said.
Terms of the buy weren’t disclosed. The transaction is expected to close in 2026 after approvals are received and closing conditions are met.
Upon closing, Intuitive will own Ab Medica’s, Abex’s and Excelencia Robotica’s da Vinci and Ion businesses. Intuitive’s da Vinci Surgical System is a robotic surgical system used to perform several minimally invasive surgeries, including prostatectomies, while the company’s Ion Endoluminal System is used to perform robotic-assisted bronchoscopies.
These business operations will be integrated into Intuitive’s European commercial and marketing organization.
Intuitive Chief Executive Gary Guthart said the company’s direct presence in Italy, Spain, Portugal, Malta and San Marino will allow it to better understand customer needs across Europe. “Intuitive is excited to continue to invest in the significant opportunity to bring safe, minimally invasive care to more patients across Europe,” he said.
Shares were up 1.6%, to $601.83, in afternoon trading.
Write to Connor Hart at [email protected]
(END) Dow Jones Newswires
January 21, 2025 13:37 ET (18:37 GMT)
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