MAKO Surgical Corp.

Last updated
MAKO Surgical Corp.
Industry Medical devices
Founded2004 [1]
Founder Rony Abovitz, Maurice Ferre M.D.
DefunctDecember 17, 2013 (2013-12-17)
FateAcquired by Stryker Corporation
Key people
Maurice Ferre M.D., Fritz LaPorte, former CFO, Treasurer, Sr. VP of Finance
Products
  • RIO Robotic Arm Interactive Orthopedic Systems
  • RESTORIS Implants for partial knee and total hip arthroplasty [2]
RevenueIncrease2.svg US$ 102.72Million (2012) [3]
Increase2.svg US$ -32.55Million (2012) [3]

MAKO Surgical Corp. was a publicly traded medical device company based in Florida. On September 25, 2013, the Board of Directors of Mako Surgical accepted a deal to be acquired by Stryker for $1.65B. [4] [5] The deal closed in December 2013.

Contents

Founded in 2004, the company manufactures and markets surgical robotic arm assistance platforms, most notably the RIO (Robotic Arm Interactive Orthopedic System) as well as orthopedic implants used by orthopedic surgeons for use in partial knee and total hip arthroplasty. They are known for their intellectual property of devices, [6] [7] and have over 300 U.S. and foreign patents and patent applications. The company has won numerous awards, including being named the fastest growing technology company in 2011 on Deloitte's Technology Fast 500. Before it was purchased, it was publicly traded on the NASDAQ under the stock symbol "MAKO." [8]

History

MAKO Surgical was founded in 2004 by Rony Abovitz and other key members of its predecessor Z-KAT, Inc. [9] Z-KAT was founded in 1997 by Rony Abovitz, William Tapia, Michael Peshkin Ph.D., Julio Santos-Munne, and Wayne J. Kerness, M.D. and was developing a novel haptic robotic system for medical applications, amongst a wide variety of computer-assisted surgery technologies. Z-KAT's initial haptic robotic arm technology, known as the Whole Arm Manipulator (or WAM Arm) was originally developed at MIT and then at Barrett Technology. Z-KAT's core technology team had adapted the WAM Arm for use as a testbed for surgical procedures. The initial success of the internal tests led to the development of a business plan to focus exclusively on the idea of haptic robotic technology in orthopedic surgery. MAKO's original technical team (Rony Abovitz, Arthur Quaid Ph.D., Hyosig Kang Ph.D., Lou Arata, Ph.D., and others) demonstrated a number of breakthroughs in robotics and controls, enabling a haptic robotic system (6dof) to perform accurate bone shaping through minimally invasive incisions (knee and hip).[ citation needed ]

MAKO's first MAKOplasty Partial Knee Replacement Procedure was performed in June 2006 by Martin Roche M.D. and the company went public on the NASDAQ with their IPO in February 2008. The company's first MAKOplasty Total Hip Arthroplasty (THA) procedure was performed in October 2010. The company reached milestones with the 500th MAKOplasty procedure performed in 2008, the 1000th by 2009, and more than 23,000 by 2012.[ citation needed ]

Products

MAKO Surgical Corp. markets the RIO Robotic Arm Interactive Orthopedic System and RESTORIS Family of Implants for partial knee and total hip arthroplasty, known as MAKOplasty. [1] MAKOplasty increases accuracy in aligning and placing implants. [10] The RIO system assists surgeons by creating a 3-D model of the patients' anatomy, enabling surgeons to develop a pre-surgical plan that customizes implant size, positioning and alignment specifically for each patient. [10] During the procedure, real-time visual, tactile, and auditory feedback enforces a safety-zone and facilitates ideal implant positioning and placement, which reduces potential for complications. [11]

MAKOplasty is offered in over 150 hospitals, such as Jordan Hospital in Massachusetts, [10] Mercy Medical Center in Baltimore, [12] Quincy Medical Center in Massachusetts, [13] Hospital for Special Surgery in New York, [14] the St. Cloud Hospital in St. Cloud, Minnesota, [15] and the Mayo Clinic Hospital in Jacksonville, Florida. [16]

Mako Total Knee was launched in 2017, which combines Mako Robotic-Arm Assisted Technology with the Triathlon Total Knee System [17]

Impact of acquisition

Stryker's 2013 acquisition of MAKO Surgical for $1.65B was criticized at the time as too expensive, but by 2019 Stryker felt justified in its purchase. In 2019, Stryker had about 860 Mako robots installed globally. [18] By the end of 2020, about 44% of all its total knee replacement procedures were done with the Mako robot. [19]

Stryker's move into robotics that began with its MAKO Surgical acquisition has developed further with the 2021 acquisition of OrthoSensor, adding an intraoperative sensor technology to enhance Stryker's Mako robots. [20] Stryker's strength in robotics is cited as one cause of its upward stock price in 2021. [21] Equity research analyst Dave Keiser identifies Mako as the transformational acquisition in terms of Stryker getting on board with robotics before some of their competitors in the space. [22]

Awards

See also

Related Research Articles

Stryker Corporation is an American multinational medical technologies corporation based in Kalamazoo, Michigan. Stryker's products include implants used in joint replacement and trauma surgeries; surgical equipment and surgical navigation systems; endoscopic and communications systems; patient handling and emergency medical equipment; neurosurgical, neurovascular and spinal devices; as well as other medical device products used in a variety of medical specialties.

<span class="mw-page-title-main">Orthopedic surgery</span> Branch of surgery concerned with the musculoskeletal system

Orthopedic surgery or orthopedics is the branch of surgery concerned with conditions involving the musculoskeletal system. Orthopedic surgeons use both surgical and nonsurgical means to treat musculoskeletal trauma, spine diseases, sports injuries, degenerative diseases, infections, tumors, and congenital disorders.

<span class="mw-page-title-main">Hip replacement</span> Surgery replacing hip joint with prosthetic implant

Hip replacement is a surgical procedure in which the hip joint is replaced by a prosthetic implant, that is, a hip prosthesis. Hip replacement surgery can be performed as a total replacement or a hemi/semi(half) replacement. Such joint replacement orthopaedic surgery is generally conducted to relieve arthritis pain or in some hip fractures. A total hip replacement consists of replacing both the acetabulum and the femoral head while hemiarthroplasty generally only replaces the femoral head. Hip replacement is one of the most common orthopaedic operations, though patient satisfaction varies widely between different techniques and implants. Approximately 58% of total hip replacements are estimated to last 25 years. The average cost of a total hip replacement in 2012 was $40,364 in the United States, and about $7,700 to $12,000 in most European countries.

<span class="mw-page-title-main">Robot-assisted surgery</span> Surgical procedure

Robot-assisted surgery or robotic surgery are any types of surgical procedures that are performed using robotic systems. Robotically assisted surgery was developed to try to overcome the limitations of pre-existing minimally-invasive surgical procedures and to enhance the capabilities of surgeons performing open surgery.

<span class="mw-page-title-main">Knee replacement</span> Surgical procedure

Knee replacement, also known as knee arthroplasty, is a surgical procedure to replace the weight-bearing surfaces of the knee joint to relieve pain and disability, most commonly offered when joint pain is not diminished by conservative sources. It may also be performed for other knee diseases, such as rheumatoid arthritis. In patients with severe deformity from advanced rheumatoid arthritis, trauma, or long-standing osteoarthritis, the surgery may be more complicated and carry higher risk. Osteoporosis does not typically cause knee pain, deformity, or inflammation, and is not a reason to perform knee replacement.

<span class="mw-page-title-main">Computer-assisted orthopedic surgery</span>

Computer-assisted orthopedic surgery or computer-assisted orthopaedic surgery is a discipline where computer technology is applied pre-, intra- and/or post-operatively to improve the outcome of orthopedic surgical procedures. Although records show that it has been implemented since the 1990s, CAOS is still an active research discipline which brings together orthopedic practitioners with traditionally technical disciplines, such as engineering, computer science and robotics.

<span class="mw-page-title-main">Joint replacement</span> Orthopedic surgery to replace a joint

Joint replacement is a procedure of orthopedic surgery known also as arthroplasty, in which an arthritic or dysfunctional joint surface is replaced with an orthopedic prosthesis. Joint replacement is considered as a treatment when severe joint pain or dysfunction is not alleviated by less-invasive therapies. Joint replacement surgery is often indicated from various joint diseases, including osteoarthritis and rheumatoid arthritis.

Computer-assisted surgery (CAS) represents a surgical concept and set of methods, that use computer technology for surgical planning, and for guiding or performing surgical interventions. CAS is also known as computer-aided surgery, computer-assisted intervention, image-guided surgery, digital surgery and surgical navigation, but these are terms that are more or less synonymous with CAS. CAS has been a leading factor in the development of robotic surgery.

<span class="mw-page-title-main">Unicompartmental knee arthroplasty</span>

Unicompartmental knee arthroplasty (UKA) is a surgical procedure used to relieve arthritis in one of the knee compartments in which the damaged parts of the knee are replaced. UKA surgery may reduce post-operative pain and have a shorter recovery period than a total knee replacement procedure, particularly in people over 75 years of age. Moreover, UKAs may require a smaller incision, less tissue damage, and faster recovery times.

Michael J. Bronson is an American orthopaedic surgeon who is Chairman of the Department of Orthopedic Surgery, Mount Sinai West and Mount Sinai Morningside, and Chief of Joint Replacement Surgery at the Icahn School of Medicine at Mount Sinai in New York, and the author of advances in the development of minimally invasive surgical instruments to advance unicondylar partial knee replacement, including the Vision Total Hip System, a widely used hip replacement system that avoids the use of cement.

<span class="mw-page-title-main">A. V. Gurava Reddy</span> Indian orthopedic surgeon

A. V. Gurava Reddy is an Internationally recognized, Indian Orthopedic Surgeon and Joint replacement expert. He is the Managing Director and Chief Joint Replacement Surgeon at Sunshine Bone and Joint Institute – Sunshine Hospitals, a 300-bed NABH Accredited, Multispeciality hospital in Hyderabad India. A. V. Gurava Reddy is one of the leading surgeon(s) in India and performs about 4000 joint replacements per year. He has made sustained efforts to increase the awareness and acceptance of Joint replacement surgery in India. In 2021, Sunshine Hospital's majority stake was sold to Krishna Institute of Medical Sciences, commonly known as KIMS.

Orthopedic templating is a process wherein surgeons use either acetate templates or digital templates to estimate the correct size of the prosthesis to be used in surgery. The biggest educator on the subject has been AO/ASIF. In a study published in the Injury journal published in 1998, 94% of consultants and 100% of trainees felt that planning was important but half, respectively, routinely planned fracture treatment.

<span class="mw-page-title-main">David Giorgio Mendes Nassi</span> Israeli orthopedic surgeon (born 1937)

David Giorgio Mendes Nassi is an Israeli orthopedic surgeon who has developed advanced methodologies and systems in the area of Hip and Knee artificial joint replacement. .

Ashok Rajgopal is an Indian orthopaedic surgeon, credited with close to 20,000 Arthroscopic and over 35,000 Total Knee Arthroplasty surgeries and reported to be one of the most experienced in his field in India. He was honoured by the Government of India in 2014, by bestowing on him the Padmashri, the fourth highest civilian award, for his services to the fields of orthopaedic surgery. He has also been awarded the Dr. BC Roy award by the Medical Council of India to "Recognize the Best Talents in Encouraging the Development of Specialties in Different Branches in Medicine" for 2014.

Rony Abovitz is an American entrepreneur. Abovitz founded MAKO Surgical Corp., a company manufacturing surgical robotic arm assistance platforms, in 2004. MAKO was acquired by Stryker Corporation in 2013 for $1.65B.

Steven B. Haas is chief of the Knee Service at Hospital for Special Surgery (HSS) and has developed multiple innovative surgical techniques and instrumentations to improve and facilitate knee replacements. Haas has been awarded numerous patents for his initiatives. One of Haas's most significant contributions to knee surgery was developing the Minimally Invasive Knee Replacement, which allowed patients to have much smaller scars and speedier recoveries. Haas has been listed on New York magazine's annual "Best Doctors in New York" list since 2007 and has more than 100 orthopedics-related publications. He travels to present on topics pertaining to knee surgery.

Chitranjan Singh Ranawat is an American orthopedic surgeon of Indian origin.

Dr. Javad Parvizi is an American Board Certified orthopaedic surgeon and the director of clinical research at the Rothman Orthopaedic Institute, Philadelphia. He holds the James Edwards Professor Chair of Orthopaedics at Thomas Jefferson University. He is the co-founder of the International Consensus Meeting and President of the Musculoskeletal Infection Society (MSIS).

Justin Peter Cobb is a British professor of orthopaedic surgery at Imperial College London, known for introducing medical robotics into orthopaedic surgery. He is a member of the Royal Medical Household and was royal orthopaedic surgeon to the Queen. He is on the staff at King Edward VII's Hospital (KEVII) and is civilian advisor in orthopaedics to the Royal Air Force (RAF). His research has also included themes relating to designing new devices such as for ceramic hip resurfacing, 3D printing in orthopaedics, and training in surgical skills. He is a director of the MSk laboratory based in the Sir Michael Uren Hub.

Brian Davies is a British emeritus professor of medical robotics at Imperial College London. He developed Probot, the first robotic device to operate upon a human being. Later, he developed the haptic based robotic assistant known as 'Acrobot', the first haptic based robot to be used in orthopaedic surgery. He is a Fellow of the Royal Academy of Engineering.

References

  1. 1 2 Maranjian, Selena (14 February 2013). "Buy, Sell, or Hold: MAKO Surgical". Motley Fool. Retrieved 15 February 2013.
  2. ↑ Marie Savard (2 February 2009). Hi-Tech Knee Replacement (Television). Good Morning American via ABC News.
  3. 1 2 "MAKO Surgical Financials". MarketWatch. Retrieved 29 March 2013.
  4. ↑ Walker, Joseph; Stynes, Tess (2013-09-25). "Stryker to Acquire Mako Surgical for About $1.65 Billion". Wall Street Journal. ISSN   0099-9660 . Retrieved 2017-09-25.
  5. ↑ "UPDATE 2-Stryker buys Mako Surgical to gain robot surgery skills". Reuters . 25 September 2013. Archived from the original on 2021-10-01.
  6. ↑ "Mako Surgical Corp". The Boston Globe. 20 September 2011. Archived from the original on 24 September 2015. Retrieved 18 February 2013.
  7. ↑ Brian Williams. Robo-Doc (Television). NBC Nightly News. Archived from the original on October 2, 2013.
  8. ↑ Bandell, Brian (7 January 2013). "Mako Surgical Meets 2012 Sales Targets". Biz Journal. Retrieved 15 February 2013.
  9. ↑ Business Insider, Jan. 1, 2015
  10. 1 2 3 "Jordan Hospital: MAKOplasty Now Available At Jordan". Wicked Local - Plymouth. 1 November 2012. Retrieved 15 February 2013.
  11. ↑ Domb, M.D., Benjamin (23 August 2012). "Questions To Ask Your Doctor Before Getting A Hip Replacement". The Doings. Archived from the original on 11 June 2014. Retrieved 18 February 2013.
  12. ↑ "MAKOplasty: Only At Mercy Medical Center". Maryland Physician Magazine via Issue.com. July–August 2012. Retrieved 15 February 2013.
  13. ↑ Doyle, Karen (March 2012). "MAKOplasty Improves Surgical Precision and Patient Outcomes at Quincy Medical Center". MD News. pp. 6–8.
  14. ↑ Pearle, Andrew. "Robotic Knee Resurfacing". Hospital For Special Surgery. Archived from the original on 13 February 2013. Retrieved 25 February 2013.
  15. ↑ "Orthopedics | CentraCare, Central Minnesota". CentraCare. Retrieved 2024-01-25.
  16. ↑ "Now At Saint Anne's Hospital: Makoplasty". The Women's Journals. Retrieved 25 February 2013.
  17. ↑ "Triathlon Primary Total Knee System". Stryker. Retrieved 4 December 2022.
  18. ↑ Pedersen, Amanda (29 January 2020). "Stryker Proves That the Juice Was worth the Squeeze for Mako". www.mddionline.com. Retrieved 16 October 2021.
  19. ↑ Little, Jeff (2021-04-13). "This Important Acquisition Is Starting to Pay Off for Stryker". The Motley Fool. Retrieved 16 October 2021.
  20. ↑ Newmarker, Chris (2021-01-05). "Stryker acquires OrthoSensor and its knee surgery sensor tech". MassDevice. Retrieved 16 October 2021.
  21. ↑ Zacks (9 September 2021). "Stryker (SYK) Hits New 52-Week High: What's Driving It?". www.nasdaq.com. Retrieved 16 October 2021.
  22. ↑ Rachal, Maria (9 December 2019). "Executive of the Year: Kevin Lobo, Stryker". MedTech Dive. Retrieved 17 October 2021.
  23. 1 2 Bandell, Brian (7 January 2013). "Fast Tech Awards". Biz Journal. Retrieved 15 February 2013.
  24. ↑ Torres, Ashley (14 October 2013). "Photo Gallery: Fast Tech Awards". Biz Journal. Retrieved 15 February 2013.
  25. ↑ "Avaya, Cisco, Corptax, HP Software, and Mako Surgical Achieve Certified Support Staff Excellence Center Designation from the Technology Services Industry Association" (Press release). Technology Services Industry Association. 17 October 2012. Archived from the original on 30 June 2013. Retrieved 15 February 2013.
  26. ↑ "Winners Announced For The 2011 MarketTools ACE Awards" (Press release). MarketTools. 15 February 2011. Retrieved 15 February 2013.
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