Da Vinci Shares Grow in Spite of Lawsuits
An increasing number of medical product liability lawsuits don’t seem to be affecting stock sales for Intuitive Surgical, maker of the Da Vinci surgical robot, after recent reports of record profits.
Last week, Intuitive Surgical reported a $143.5 million profit for the first quarter of 2012. This caused a jump of up to 9% in share prices for the company’s stocks.
Investors’ confidence appears unshaken by the increasing number of Da Vinci surgical robot lawsuits as the company’s earnings far surpass their expected profit targets.
In April alone, at least two Da Vinci surgical robot lawsuits were filed against the company. Numerous additional medical product liability suits are currently being investigated by personal injury lawyers as patients report potentially fatal burns and tears affecting internal organs and tissues. A number of Da Vinci robot wrongful death claims are also being investigated.
The Da Vinci robot allows surgeons to perform minimally invasive abdominal surgeries by utilizing the four remote controlled arms and camera of the system. While the device has been promoted as a medical breakthrough, dangerous medical device lawsuits claim that the machine presents a high risk of complications and that doctors who use the Da Vinci system are often inadequately trained.
Last quarter, Intuitive Surgical generated $485.2 million in total sales, which presented a nearly 28% increase over the last year’s sales. The Da Vinci robot can cost $2 million and requires maintenance to the tune of up to $10 thousand a year.
Because of the high costs associated with this device, some doctors and hospitals claim that surgeons feel pressured to use the system before they are adequately trained to do so.
In April, the family of a woman who died after suffering a burn to the right external iliac artery filed a wrongful death lawsuit against the makers of the Da Vinci robot. Another woman filed suit after suffering significant damage to her left ureter and bladder during surgery with the Da Vinci system.
Contact a Product Liability Lawyer
If you or a loved one has suffered pain or death after surgery with a Da Vinci surgical robot system, you may be entitled to substantial compensation. To learn more about your rights, contact a medical device lawyer today for a free consultation.