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CMR Surgical CEO expects another year of growth

Cambridge-based surgical robotics firm CMR Surgical has embarked on an ambitious growth strategy under the leadership of CEO Supratim Bose over the past year. The company continues enhancing and expanding availability of its Versius system while investing in the next generation platform.

CMR recently opened a 75,000 square foot production facility to boost manufacturing capacity and meet rising global demand. This enabled the company to achieve 50% installed base growth to 160 systems worldwide along with a 60% jump in annual procedures to 17,000 in 2023.

In a feat underscoring the appeal of Versius’ portable design and lower cost, CMR captured deals at over half a dozen hospitals that previously relied on market leader Intuitive’s da Vinci. Experts say the overall surgical robotics space has vast room for expansion as less than 5% of soft tissue procedures utilize the technology today.

The company also continues strategic collaboration with healthcare giant Johnson & Johnson towards utilizing Versius in hospitals. It recently hired medtech veterans Massimiliano Colella as Chief Commercialization Officer and Mark Slack as Chief Medical Officer to further optimize commercial efforts.

On the financial front, CMR exceeded fundraising goals in its latest round, securing $165 million to fuel growth initiatives. The cash will support ongoing development of Versius’ next generation system with enhanced vision, instruments, and digital capabilities.

“I think it has been a great year of trying to do what is good for the company,” said Bose, who also highlighted CMR’s sharpened focus on existing system commercialization since taking the helm. Regulatory approval in the U.S. remains a key near term milestone.

With its mounting traction across Europe and Asia-Pacific, rapidly expanding production capacity, and continued platform innovation, CMR seems poised to compete aggressively for share in the high-growth surgical robotics arena.

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