Mazor Robotics is a developer of robotic guidance systems and complementary products. Its flagship product is the Renaissance surgical guidance system, which has been used in the placement of over 45,000 implants worldwide.
1. Mazor Robotics announced that net loss attributable to ordinary shareholders was $3.6 million in the first quarter of 2014, down from net loss attributable to ordinary shareholders of $10.6 million in Q1 of 2013. The company reported revenues of $4.87 million in Q1 of 2014, down slightly from the same period last year when it reported $4.9 million in revenues.
2. The company ended the first quarter of 2014 with a clinical installed base of 37 Renaissance systems in the United States and 68 systems globally.
"Our efforts in the 2014 first quarter yielded a number of positive results," said Ori Hadomi, Mazor's CEO. "We penetrated two teaching centers which enhanced the awareness of the Renaissance system within the broader academic community. With a total of four systems in hospitals in the state, we believe that Georgia is emerging as a new cluster and will one day complement our success in Florida, Texas and southern California."
3. The company recorded a significant net loss of $20.5 million for the year ended Dec. 31, 2013, and sold 23 systems in 2013. The company also announced its revenue for the year ended Dec. 31, 2013, which was $19.98 million, up from the year ended Dec. 31, 2012, which yielded $12.17 million.
4. The global medical robot systems market is expected to reach $3.8 billion by 2018, according to a MarketsandMarkets report. The market was valued at $1.8 billion in 2013, and is estimated to grow at a compound annual growth rate of 16.1 percent from 2013 to 2018. Mazor Robotics was identified as one of the key players in the market.
5. Mazor Robotics will soon launch the new Renaissance Guidance System brain module. The system has been cleared by the U.S. Food and Drug Administration for both spine and brain surgery. Bradley Wallace, MD, of Baptist Medical Center in Jacksonville, Fla., performed the first bilateral procedure with the system in December 2013.
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