Encision Signs Master Services Agreement with Vicarious Surgical Inc.

Rhea-AI Summary

Encision Inc. (OTC PINK:ECIA), a medical device company specializing in Active Electrode Monitoring (AEM) Technology, has signed a Master Services Agreement with Vicarious Surgical Inc. The agreement, effective July 8, 2024, involves Encision providing design services for elements of Vicarious' robotic surgical system.

Gregory J. Trudel, President and CEO of Encision, expressed excitement about the collaboration, highlighting the opportunity to bring best-in-class technology to surgical robotics and contribute to patient safety and clinical performance. Encision, based in Boulder, Colorado, focuses on developing surgical instrumentation that enhances patient safety and surgical performance across various minimally invasive procedures.

Positive

• Signed Master Services Agreement with Vicarious Surgical Inc.
• Opportunity to expand into the robotic surgery market
• Potential for increased revenue through design services
• Enhanced visibility and credibility in the medical device industry

Negative

• None.

BOULDER, CO / ACCESSWIRE / August 21, 2024 / Encision Inc. (OTC PINK:ECIA), a medical device company owning patented Active Electrode Monitoring (AEM®) Technology that prevents dangerous stray energy burns in minimally invasive surgery, today announced that Encision has signed a Master Services Agreement ("Agreement") with Vicarious Surgical Inc. ("Vicarious").

The Agreement commenced July 8, 2024 and will continue thereafter until terminated by certain actions of either party. Vicarious has contracted with Encision to provide certain related design services for elements of their robotic surgical system.

"We are happy to be teaming up with Vicarious to drive new levels of patient safety in robotic surgery. Working with Vicarious is an exciting opportunity for Encision to bring best in class technology to surgical robotics. Vicarious has world class leadership and vision and will change the face of robotic surgery. We are pleased to be able to contribute to that in a meaningful way and deliver patient safety and clinical performance to the best-in-class robotic platform. We welcome this next phase to our relationship," said Gregory J. Trudel, President and CEO of Encision.

Encision Inc. designs and markets a portfolio of high-performance surgical instrumentation that delivers advances in patient safety with AEM Technology, surgical performance, and value to hospitals across a broad range of minimally invasive surgical procedures. Based in Boulder, Colorado, the company pioneered the development and deployment of Active Electrode Monitoring, AEM technology, to eliminate dangerous stray energy burns during minimally invasive procedures. For additional information about all our products, please visit www.encision.com.

In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the Company notes that statements in this press release and elsewhere that look forward in time, which include everything other than historical information, involve risks and uncertainties that may cause actual results to differ materially from those indicated by the forward-looking statements. Factors that could cause the Company's actual results to differ materially include, among others, its ability to develop new or enhanced products and have such products accepted in the market, its ability to increase net sales through the Company's distribution channels, its ability to compete successfully against other manufacturers of surgical instruments, insufficient quantity of new account conversions, insufficient cash to fund operations, delay in developing new products and receiving FDA approval for such new products and other factors discussed in the Company's filings with the Securities and Exchange Commission. Readers are encouraged to review the risk factors and other disclosures appearing in the Company's Annual Report on Form 10-K for the year ended March 31 2024 and subsequent filings with the Securities and Exchange Commission. We do not undertake any obligation to update publicly any forward-looking statements, whether as a result of the receipt of new information, future events, or otherwise.

CONTACT: Brandon Shepard, Encision Inc., 303-444-2600, bshepard@encision.com

SOURCE: Encision, Inc.

View the original press release on accesswire.com

FAQ

What is the significance of Encision's agreement with Vicarious Surgical for ECIA stock?

The agreement represents a potential growth opportunity for Encision (ECIA) as it expands into the robotic surgery market, which could lead to increased revenue and market presence.

When did the Master Services Agreement between Encision and Vicarious Surgical begin?

The Master Services Agreement commenced on July 8, 2024.

What services will Encision (ECIA) provide to Vicarious Surgical under the new agreement?

Encision will provide certain related design services for elements of Vicarious Surgical's robotic surgical system.

How might this partnership impact Encision's (ECIA) position in the medical device industry?

This partnership could strengthen Encision's position by allowing it to contribute its AEM Technology to the growing field of robotic surgery, potentially increasing its market share and technological relevance.