f bile ducts (cystic duct, common bile duct, and common hepatic duct). Standard da Vinci System: During 2014, the company phased out the sale of all instrument, accessory and service contract offerings for the standard da Vinci Surgical System. Instruments and Accessories EndoWrist Instruments: The company manufactures various instruments, majority of which incorporate wrist joints for natural dexterity, with tips customized for various surgical procedures. EndoWrist instruments are offered in various sizes, of which 5mm and 8mm diameter sizes are the most commonly sold. At their tips, the various EndoWrist instruments include forceps, scissors, electrocautery, scalpels, and other surgical tools that are familiar to the surgeon from open surgery and conventional MIS. Various EndoWrist instruments are selected and used interchangeably during a surgery. The company’s EndoWrist instruments are sterilizable and most are reusable for a defined number of procedures. The company typically develops new types of EndoWrist instruments to support additional types of surgical procedures. da Vinci Single-Site: da Vinci Single-Site is a set of non-wristed instruments (except for wristed needle driver) and accessories that allow Surgical Systems to work through a single incision, typically in the umbilicus, rather than multiple incisions. Single incision surgery is intended to minimize trauma to patients by reducing the number of ports required to enter the body and is typically utilized for less complex surgery than multi-port surgery. Non-robotic single incision surgery is typically performed with modified laparoscopic instruments. da Vinci Single-Site instruments and accessories are designed to address these issues. In 2014, the company received FDA clearance to market the wristed version of its Single-Site needle driver product for use on benign hysterectomy, cholecystectomy, and salpingo-oophorectomy procedures. EndoWrist One Vessel Sealer: The EndoWrist One Vessel Sealer is a wristed, single-use instrument intended for bipolar coagulation and mechanical transection of vessels approximately 7 mm in diameter and tissue bundles that fit in the jaws of the instrument. This instrument enables surgeons to control vessel sealing, while providing the benefits of da Vinci surgery. This instrument is designed to improve surgical efficiency and autonomy in various general surgery and gynecologic procedures. EndoWrist Stapler 45 Instrument: The EndoWrist Stapler 45 is a wristed, stapling instrument intended for resection, transection and/or creation of anastomoses in general, gynecologic and urologic surgery. This instrument enables operators to precisely position and fire the stapler. Its initial surgical use has been directed towards colorectal and thoracic procedures. Accessory Products: The company sells various accessory products, which are used in conjunction with the da Vinci Surgical System as surgical procedures are performed. Accessory products include sterile drapes used to ensure a sterile field during surgery, vision products, such as replacement 3-D stereo endoscopes, camera heads, light guides, and other items that facilitate use of the system. Distribution The company provides its products through a direct sales organization in the U.S.; majority of Western Europe excluding Spain, Portugal, Italy and Greece; and Japan and South Korea. In the remainder of the company’s world markets, the company provides its products through distributors. Business Strategy The company’s strategy is to improve its target surgical procedures in one or more of the various ways, such as converting target open procedures to da Vinci Surgery; facilitating difficult MIS operations; and offering a less invasive single port surgical option. Seasonality The company’s business is subject to seasonal fluctuations. The company has historically experienced lower procedure volume in the first and third fiscal quarters (year ended December 2015) and higher procedure volume in the second and fourth fiscal quarter. Procedures treating benign conditions are typically higher in the fourth quarter and lower in the first qua
intuitive surgical inc
(ISRG:Consolidated Issue Listed on NASDAQ Global Select )
1020 Kifer Road
Sunnyvale, CA 94086-5304
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