Essay about Intuitive Surgical review

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Intuitive Surgical, Inc

July 2014

Abstract / Executive Summary
Intuitive Surgical continues to lead the surgical robotic market in both market penetration and revenue stream. This company continues its reach to surgeons and patients globally through its opportunity to offer minimally invasive solutions with latest technology. Faced with environmental changes and new competition on the horizon, Intuitive Surgical has some challenges to face while maintaining positive results for investors.

Overview
This paper is based on research performed on Intuitive Surgical Inc, (NASDAQ: ISRG) and includes details about company’s line of business, place within its industry, and overall business situation as it is perceived by its customer based. Certain company financials will be introduced, analyzed, and discussed throughout the paper to help describe the perspective of value that this company has to investors and consumers alike. An industry analysis will help explain the strengths, weaknesses, and challenges this company faces amidst policy changes and increasing competition.

Line of Business and Overall Business Situation
Intuitive Surgical, Inc. is a leader in minimally invasive robotic-assisted surgery and competes in the global market. This company has capitalized on the growing demand from surgeons and patients desiring minimally invasive procedures across many surgical disciplines. In January of 1999, the da Vinci System was launched and was the first robotic surgical system cleared by the FDA for general laparoscopic surgery. The FDA cleared the da Vinci system in following years for additional procedures such as thoracic, cardiac, urologic, and gynecological.
The technology introduced by Intuitive Surgical is a combination of software, hardware, and optics that allow surgeons to perform robotically aided surgery from a remote console. The da Vinci system reproduces the hand movements of the surgeon in real time through tiny electromechanical arms and instruments. The surgeons hand motions at the console is based on their 3D view of the patients anatomy at the console. According to Oliver, “Along with reducing trauma to the patient related to large incisions, Intuitive Surgical promotes its minimally invasive robotic system as a means of increasing a surgeon’s precision, intuitive control, range of motion, and vision during the procedure.”
Intuitive Surgical products are in North America, Asia, and Europe with 70% of sales coming from the US. A direct sales force is used in the US, Korea, and most of Europe while independent distributors are used in other markets. Initial sales of the da Vinci robot system make up 40% of the revenue for the company. The sale of instruments, accessories, and disposable products account for another 45% of sales. The balance of revenue comes from providing system support and physician training services. Part of the growth strategy for Intuitive Surgical is the introduction of the newest generation da Vinci system which include increased visual benefits and ease of use for surgeons. Intuitive also has a strong presence in educational facilities so that surgeons are trained on the equipment while in training - putting pressure on hospitals to invest in the technology so that they can remain competitive with neighboring hospitals when recruiting for talent. Intuitive Surgical also pursues growth through occasional acquisitions of competitors and expansion of direct sales through the purchase of distributors.

Industry Analysis
Intuitive Surgical is in the medical supply / device industry representing companies whose business operations entail the development and distribution of medical devices that are implanted or in contact with the human body. The global robotic
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