Problems with DaVinci Robot lead to Concerns about Intuitive Surgical
A market research group has published a warning to investors that the impact of DaVinci surgical robot problems will eventually affect the manufacturer, Intuitive Surgical. The report, issued by Citron Research on December 19, predicts a drastic drop in Intuitive Surgical stock prices over the next 18 months, citing a “gathering storm of legal liability.”
According to Citron Research, a track record of “excessive and unjustified marketing claims” about the DaVinci surgical robot system has led to overvaluation of the company’s stocks. The DaVinci system is a robot operated by a surgeon to complete minimally invasive surgery laparoscopically.
The DaVinci system has been heavily marketed, and is increasingly used in a number of procedures to provide less invasive surgery and shorter recovery times.
Citron Research’s report indicated an “utter lack” of clinical evidence that the DaVinci system provides superior surgical results, and noted the growing number of DaVinci lawsuits the company is facing. A number of individuals have filed suit against Intuitive Surgical after suffering serious injury or the loss of a loved one following surgery with the robotic system.
Citron Research accuses Intuitive Surgical of using fear to sell a medical product that is no necessarily needed. In DaVinci lawsuits, lawyers allege that the company promoted the product too aggressively and did not provide proper training for surgeons who were to use the robot.
Citron says the report was issued because of developments over the last month which have not been noted by Wall Street. These developments include new lawsuits, the sale of the company’s chairma, Lonnie Smith’s, shares in the company, mounting criticism, and the fact that Intuitive’s own sales force is losing confidence in its product.
Citron expects that current and future DaVinci lawsuits will illuminate the fact that there is no scientific evidence that the DaVinci system is better for patients.
Contact a DaVinci Surgical Robot Lawyer
Were you or someone you love injured or worse during or immediately after surgery with a DaVinci surgical robot system? If so, you may be entitled to substantial compensation for your damages. Contact a medical product liability lawyer today for a free legal consultation.