Vicarious Surgical Starts Trading As It Prepares To Launch Its Surgical Robots — And Take On Intuitive

MICHAEL PRINCE FOR FORBES

Adam Sachs, cofounder and CEO, of Vicarious Surgical eagerly awaited this morning’s first trade of his surgical robot company under the ticker RBOT on the New York Stock Exchange. “It’s honestly a dream come true,” Sachs, 30, toldSachs, an MIT grad and alum of the 2019 Forbes 30 Under 30 list, officially launched Vicarious in 2014 with his college buddy, Sammy Khalifa, now the company’s chief technology officer, and Dr. Barry Greene.

The surgical robotics market has been dominated by Intuitive Surgical, which introduced its Da Vinci robots two decades ago, and now sports a market cap of $123 billion. As Intuitive’s patents expire and robotic technology advances, competitors including J&J and Medtronic, both of which have acquired surgical-robot startups, are vying to make robotic surgery as common as laparoscopy.

Earlier this year, Vicarious agreed to merge with a SPAC set up by Hong Kong investor Donald Tang in a $1.1 billion deal. With the deal, it will have around $220 million that it intends to use for final stages of product development and FDA clearance. The company has told investors that it hopes its robots will be on the market in 2023, and that it expects to reach $1 billion in annual revenue by 2027.

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Woodward’s Latest Book Seems to Misunderstand Trump’s Central MotivationIt’s a relatively wholesome bowl of schadenfreude, but that doesn’t mean it’s good for you. What was Gen Milley’s motivation?
Source: Slate - 🏆 716. / 51 Read more »

US reportedly investigating possible insider trading at BinanceThe company has faced warnings and business curbs from financial watchdogs from Britain and Germany to Japan, who are concerned over the use of crypto in money laundering and risks to consumers. 🔥MOONSHOT ALERT🔥 MonsterDoge is a Play-to-Earn NFT Platform revolved around breedable, collectible, and quite cute animals we call MonsterDoge! 💎 NEXT 1000x BSC GEM 🚀 💎 9% BNB rewards for all holders 🙌 💎 2% Marketing 💎 1% Auto liquidity 💦 Telegram: monsterdogenet
Source: trtworld - 🏆 101. / 63 Read more »

NPR Cookie Consent and ChoicesDeggans People still watch award shows? Deggans Award shows are self-congratulatory masturbation. We don’t need them
Source: NPR - 🏆 96. / 63 Read more »

Hidden Lingerie: Intimates for women with Crohn's and ColitisFeaturing an array of bralettes and undies in muted tones, Hidden Lingerie founder Natalie Jones created her company with the hope of “changing the way women who have Crohn’s and colitis feel about their bodies.”
Source: FashionCanada - 🏆 35. / 63 Read more »

The SPAC Bubble Is Burst. It May Be Time to Invest.While the SPAC boom has fizzled, blank-check vehicles are now trading at deep enough discounts for even skeptical investors to consider arbitrage trades. heard Opportunity for new investors to buy SPACs now? Yeah, right. That is a stupid advice.🤦‍♂️ heard Electricity Prices after BrExited Johnson Insane Carbon Footprint No Gas in U.K.
Source: WSJ - 🏆 98. / 63 Read more »

European markets head for lower open as investors prepare for Fed meetingEuropean stocks are expected to open lower on Monday as global markets contend with concerns over the U.S. Federal Reserve's tapering timetable. horrible Still pays back millions for some
Source: CNBC - 🏆 12. / 72 Read more »