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Asensus Surgical, Inc. (NYSE American: ASXC) is a trailblazing medical device company that enhances minimally invasive surgery through digital laparoscopy. The company's flagship product, the Senhance® Surgical System, is the first machine vision system used in robotic surgery. It leverages augmented intelligence, connectivity, and robotics to address clinical, cognitive, and economic challenges in surgery.
Headquartered in Research Triangle Park, North Carolina, Asensus Surgical focuses exclusively on the research, development, and sale of medical device robotics aimed at improving surgical outcomes. The company's cutting-edge technology includes the Intelligent Surgical Unit™ that brings augmented intelligence into the operating room. One of its latest innovations is the LUNA™ Surgical System, a next-generation robotic and instrument system under development.
Committed to global healthcare improvements, Asensus Surgical has expanded its reach with the Senhance System now available in the US, EU, Japan, Russia, and select other countries. The system has recently been adopted by Nagoya University Hospital in Japan, dedicated to pediatric procedures. This marks a significant milestone, as the Senhance System offers specialized instrumentation and advanced clinical intelligence, aimed at reducing invasiveness and increasing precision in pediatric surgery.
In a recent strategic move, Asensus Surgical entered into a definitive merger agreement with KARL STORZ Endoscopy-America, Inc., a subsidiary of KARL STORZ SE & Co. KG. This merger, valued at $0.35 per share, is anticipated to enhance KARL STORZ's portfolio and market presence, particularly in the robotic surgical market. The transaction has been unanimously approved by Asensus’ Board of Directors and is expected to close during the third quarter of 2024.
Asensus Surgical continues to be driven by collaboration and human ingenuity, striving to make surgery more accessible and predictable while delivering consistently superior outcomes. For more detailed information, visit www.asensus.com.
Asensus Surgical (NYSE American: ASXC) has announced that The Rocky Mountain Hospital for Children in Denver, Colorado, will be the first dedicated pediatric hospital in the United States to utilize a Senhance® Surgical System. This agreement marks a significant milestone for Asensus Surgical in expanding its innovative digital solutions for operating rooms into pediatric care.
The Senhance System, designed to address the unique challenges of pediatric surgery while maintaining the benefits of minimally invasive procedures, is expected to improve outcomes in pediatric and adolescent surgeries. Dr. Steve S. Rothenberg from The Rocky Mountain Hospital for Children expressed enthusiasm about the system's potential to enhance patient care and align with the hospital's commitment to innovation and excellence.
Asensus Surgical (NYSE American: ASXC) has received FDA 510(k) clearance for an expanded indication to treat adult and pediatric Urology patients with the Senhance® Surgical System in the United States. This clearance opens up a significant market, with over 185,000 urological surgical procedures performed annually in the U.S. The Senhance System offers precision and advanced digital capabilities, including 3mm and 5mm instruments and digital integrations, making it well-suited for urological procedures.
The system aims to increase surgeon control and reduce variability through Augmented Intelligence and deep learning capabilities. This expansion builds on the system's successful use in Urology procedures outside the U.S. for several years, now bringing its benefits to the U.S. patient population.
Asensus Surgical (NYSE American: ASXC) announced that LKH-Universitätsklinikum Graz in Austria has agreed to lease and use a Senhance® Surgical System. This marks the second hospital in Austria and the 7th pediatric-focused site to adopt this technology. The hospital, renowned for minimally invasive pediatric and adolescent surgery, will utilize the system's 3mm and 5mm instruments for various procedures.
Professor Holger Till, Head of Pediatric and Adolescent Surgery at the hospital, expressed excitement about the partnership, highlighting the potential of Senhance's small instruments to enhance surgical outcomes for young patients. Asensus Surgical's CEO, Anthony Fernando, emphasized the collaboration's role in expanding the adoption of their innovative surgical platform globally.
Asensus Surgical has announced a partnership with St. Marianna University School of Medicine Yokohama City Seibu Hospital in Japan. The hospital will lease and utilize Asensus' Senhance® Surgical System in its Urology and Gastroenterology/General Surgery departments. This collaboration aims to bring advanced surgical capabilities to the hospital, leveraging the Intelligent Surgical Unit™ with Augmented Intelligence for real-time insights. The Senhance System is designed to enhance surgeon control and reduce variability, blending human skill with clinical intelligence.
Asensus Surgical announced a definitive merger agreement with KARL STORZ Endoscopy-America, a subsidiary of KARL STORZ SE & Co. KG. KARL STORZ will acquire Asensus for $0.35 per share in cash, representing a 67% premium over the April 2, 2024 closing price. The transaction has been unanimously approved by Asensus’ Board of Directors and is expected to close in Q3 2024, pending stockholder approval and customary conditions. Post-merger, Asensus will become a subsidiary of KARL STORZ and will delist from the NYSE American Exchange.
This merger aims to enhance KARL STORZ’s portfolio in the surgical robotics market, leveraging Asensus’ innovative technology. Financial and legal advisors for the deal include Jefferies and Ballard Spahr LLP for Asensus, and UBS Investment Bank and Ropes & Gray LLP for KARL STORZ.
Asensus Surgical announced its Q1 2024 financial results with significant updates. The company reported $1.1 million in revenue, a slight increase from $1.0 million in Q1 2023. Despite this, their net loss expanded to $22.5 million. A non-binding acquisition proposal from KARL STORZ was announced, including up to $20 million in financing. The proposal values Asensus shares at $0.35 each. Nearly 900 surgical procedures utilizing the Senhance System were performed globally. Asensus aims to initiate 8-10 new Senhance programs and expects a 15%-20% procedure volume growth for 2024. The company had $8.0 million in cash and equivalents as of March 31, 2024.
Asensus Surgical, Inc. (ASXC) to release first quarter 2024 financial and operating results on May 14, 2024. The company will host a conference call to discuss the results.
Asensus Surgical, Inc. announced that Sendai Tokushukai Hospital in Japan has initiated a Senhance Surgery Program, leasing a Senhance Surgical System, becoming the second institution within one of Japan's largest private hospital systems to do so. The system offers innovative features like haptic feedback, enhancing surgical capabilities. This collaboration aims to elevate patient care and outcomes, aligning with the hospital's commitment to excellence.
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