The agreement covers the distribution of the Sentire system outside the United States, alongside the Hugo surgical robot already marketed by Medtronic.
Medtronic announced on September 1st an investment and distribution agreement with Cornerstone Robotics, a Hong Kong company specializing in robot-assisted mini-invasive surgery. Medtronic provides approximately $700 million in exchange for distribution fees for Cornerstone's Sentire system in several markets outside the US where the device is already licensed, including China, Singapore and Europe.
Sentire is a multi-port robotic platform for mini-invasive surgery in general, gynaecological, thoracic and urological surgery. Cornerstone retains ownership of the technology and its intellectual property: it is a distribution agreement, not a buy-back. Medtronic will market this Feeling in addition to its own Hugo system, expanding its robotic surgery offer on international markets.
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