Get the Latest Investment Ideas Delivered Straight to Your Inbox. Subscribe


Surgical Robotics Developer Demonstrates Technology at Medical Conference
Research Report

Share on Stocktwits


A Ladenburg Thalmann report relayed how this Massachusetts company participated at the Transcatheter Cardiovascular Therapeutics annual meeting through a live transmission—the first ever—of a remote interventional procedure using the CorPath GRX system.

In a Sept. 25 research note, analyst Jeffrey Cohen reported that Corindus Vascular Robotics Inc. (CVRS:NYSE.American) had a "strong presence and showing of technology" at the Transcatheter Cardiovascular Therapeutics annual meeting in September.

Cohen relayed the conference highlights involving Corindus, including a live transmission—the first ever—of a remote interventional procedure using Corindus' CorPath GRX system. This technology is intended for use in the remote delivery and manipulation of guidewires and rapid exchange catheters, along with remote manipulation of guide catheters during percutaneous coronary and vascular procedures.

The procedure, in which a professional remotely manipulated devices within a porcine model's arteries, was streamed to the meeting venue from the Mayo Clinic. "Enabling physicians to remotely treat patients provides an array of opportunities, including providing treatment to those who otherwise would not have received necessary and life-saving intervention and those located in areas where medical advances are lacking," Cohen pointed out.

Corindus also chaired a breakfast symposium titled "New Frontiers in Robotic Interventions: Current and Future Technology," which encompassed four talks. In the first presentation, "New Clinical Evidence in Robotic Interventions," Dr. Lawrence Ang supplied evidence, from 2015 to date, that showed advantages of robotic technology.

Next, Dr. Manish Parikh presented "Robotics for Complex PCI: A Case Series," which outlined the various benefits of robotics use in hospitals and health systems. Specifically, GRX "offers increased control throughout the procedure (1 millimeter movements and sub-1 millimeter measurements for stent selection)," which has led to a reduction in the number of stent placements. Other positives are its abilities to improve work flow and patient outcomes, reduce associated radiation exposure and lower physical strain on physicians.

"Dr. Parikh believes that the GRX system offers excellent haptic control (rotate on retract), more precise stent placement and a relatively short learning curve (15–20 cases)," Cohen added. "He believes the system offers 'superb maneuverability' and that younger physicians and fellows are wanting, loving and embracing the technology."

Dr. Ryan Madder spoke next on "The 1st Remote PCI from 100 Miles Away," in which he reviewed the outcomes of 22 remotely performed cases. The gist was that a large opportunity for telestenting exists but remains challenged—for instance, by the need for a second operator, network performance and reliability, and management of complications.

In the fourth presentation, "Building the Next Generation Robot," Dr. Mitchell Krucoff described Corindus' GRX system as a significant early advancement for percutaneous coronary intervention. He went on to discuss the many considerations in developing the next generation of such technology, such as hardware and software challenges, artificial intelligence, adjunct devices, and clinical outcomes and training programs.

Cohen concluded his research report by noting that Corindus' current technological advances have "provided the foreground for further innovation and development related to remote procedures and telestenting."

Ladenburg Thalmann has a Buy rating and a $1.70 price target on Corindus, whose share price today is around $1.29.


1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following company mentioned in this article is a billboard sponsor of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article.

Disclosures from Ladenburg Thalmann, Corindus Vascular Robotics, Inc., Sept. 25, 2018

ANALYST CERTIFICATION: I, Jeffrey S. Cohen, attest that the views expressed in this research report accurately reflect my personal views about the subject security and issuer. Furthermore, no part of my compensation was, is, or will be directly or indirectly related to the specific recommendation or views expressed in this research report, provided, however, that:

The research analyst primarily responsible for the preparation of this research report has or will receive compensation based upon various factors, including the volume of trading at the firm in the subject security, as well as the firm’s total revenues, a portion of which is generated by investment banking activities.

Want to read more about Medical Devices investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe