Corindus Creates Niche in Growing Robotics Market

The medtech robotics space is taking off with new entrants and new products hitting the market. Even firms that have been in the space for a while are beginning to see the effects in their earnings. Waltham, MA-based Corindus Vascular Robotics experienced growth and recently revealed it brought in about $4.2 million in revenue for the fourth quarter of 2017, topping Wall Street expectations of $4 million. During the fourth quarter of 2016, Corindus generated $0.5 million. Revenue for 2017 totaled $9.7 million compared to $2.8 million in 2016.  “Revenue in the quarter was driven primarily by CorPath GRX Systems and capital upgrade sales,” said David Long, senior vice president and CFO of Corindus, according to a Seeking Alpha Transcript. Join us at the BIOMEDevice Boston Expo,  April 18–19, 2018. Use promo code "MDDI" for 20% off conference registration and free expo access.   Corindus develops systems for robotic-assisted percutaneous coronary interventions (PCI).  In 2016, MD+DI said Corindus was one of nine influential robotics companies in the market.  Earlier this month, FDA gave a nod to an automated movement software add-on for Corindus Vascular's PCI platform. The software allows the operator to quickly navigate to a targeted lesion by automatically rotating the guidewire upon joystick retraction. During an earnings call, company executives pointed out a partnership with Mayo Clinic to conduct a preclinical study to evaluate whether or not operators...
Source: MDDI - Category: Medical Devices Authors: Tags: Cardiovascular Business Source Type: news