Move Over, Intuitive Surgical, Here’s How Johnson & Johnson and Google Plan to Build a Better Robot

1474461628976Surgical robotics company Intuitive Surgical’s (NASDAQ:ISRG) near-monopoly is facing a threat from two of America’s most powerful companies, Alphabet’s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google and Johnson & Johnson (NYSE:JNJ). The corporate giants are collaborating in a new company called Verb Surgical, which has its sights set on introducing a safer, more cost-effective, and (here’s the truly exciting part) smarter surgical robot.

Fortunately for Intuitive Surgical, the impact from this competitive threat could be diluted since there should be room for multiple players in this market. Surgical robotics is growing annually in the mid single digits and is expected to reach $20 billion by 2020. The surgical industry accounts for $500 billion of current healthcare spending, and just 5%-10% of these surgeries use robots. As the industry grows, there should be plenty of space for expansion of robotics into new facilities and wider surgical procedures, opening up the market to multiple players.

By Cheryl Swanson | The Motley Fool

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About Peter Coffaro 1104 Articles
A growth-driven and strategic executive, Peter Coffaro commands more than 20 years of progressive management success within the medical device industry. As a District Sales Manager for Stryker Orthopaedics, Peter was responsible for managing and directing a regional sales force to achieve sales and profit goals within the Rocky Mountain region. Previously, he was the Director of Sales & Marketing for Amp Orthopedics. In this role, Peter was responsible for planning, developing, and leading all sales and marketing initiatives. Peter is a former orthopedic distributor in the Pacific Northwest. He has also worked with DePuy Orthopaedics as well as Zimmer, and held positions in sales, sales training, and sales management. Peter has an extensive background in organizational development, business development, sales management, negotiating and P&L management. Peter holds a B.S. degree in Biology from Northern Illinois University.

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