MAKO Surgical Corp.

MAKO Surgical Corp.
Traded as NASDAQ: MAKO
Founded 2004[1]
Founder Rony Abovitz, Maurice Ferre, M.D.
Key people
 Maurice Ferre, M.D., President & CEO[2]
Fritz LaPorte, CFO, Treasurer, Sr. VP of Finance
Products RIO Robotic Arm Interactive Orthopedic Systems RESTORIS Family of implants indicated for partial knee and total hip arthroplasty[3]
Revenue Increase US$ 102.72Million (2012)[4]
Increase US$ -32.55Million (2012)[4]
Website MAKO Surgical Official Website

MAKO Surgical Corp. (Stryker Medical) was a publicly traded medical device company based in Florida. On September 25, 2013, the Board of Directors of Mako Surgical accepted a deal to merge with Stryker Medical for $1.65B.[5] The deal closed in December 2013. Founded in 2004, the company manufactures and markets surgical robotic arm assistance platforms, most notably the RIO (Robotic Arm Interactive Orthopedic System) as well as orthopedic implants used by orthopedic surgeons for use in partial knee and total hip arthroplasty. They are known for their intellectual property of devices[6][7] and have over 300 U.S. and foreign patents and patent applications. The company has won numerous awards, including being named the fastest growing technology company in 2011 on Deloitte’s Technology Fast 500. Before it was purchased, it was publicly traded on the NASDAQ under stock symbol “MAKO.”[2]

History

MAKO Surgical was founded in 2004 by Rony Abovitz, Maurice Ferre M.D., and other key members of its predecessor, Z-KAT, Inc. (founded in 1997 by Rony Abovitz, William Tapia, Michael Peshkin Ph.D., Julio Santos-Munne, and Wayne J. Kerness, M.D.) Z-KAT, Inc. was developing a novel haptic robotic system for medical applications, amongst a wide variety of computer-assisted surgery technologies. Z-KAT's initial haptic robotic arm technology, known as the Whole Arm Manipulator (or WAM Arm) was originally developed at MIT and then at Barrett Technology. Z-KAT's core technology team had adapted the WAM Arm for use as a testbed for surgical procedures. The initial success of the internal tests led to the development of a business plan to focus exclusively on the idea of haptic robotic technology in orthopedic surgery. MAKO's original technical team (Rony Abovitz, Arthur Quaid Ph.D., Hyosig Kang Ph.D., Lou Arata, Ph.D., and others) demonstrated a number of breakthroughs in robotics and controls, enabling a haptic robotic system (6dof) to perform accurate bone shaping through minimally invasive incisions (knee and hip).

MAKO's first MAKOplasty Partial Knee Replacement Procedure was performed in June 2006 by Martin Roche M.D. and the company went public on the NASDAQ with their IPO in February 2008. The company's first MAKOplasty Total Hip Arthroplasty (THA) procedure was performed in October 2010. The company reached milestones with the 500th MAKOplasty procedure performed in 2008, the 1000th by 2009, and more than 23,000 by 2012.

Products

MAKO Surgical Corp. markets the RIO Robotic Arm Interactive Orthopedic System and RESTORIS Family of Implants for partial knee and total hip arthroplasty known as MAKOplasty.[1] MAKOplasty increases accuracy in aligning and placing implants.[8] The RIO system assists surgeons by creating a 3-D model of the patients' anatomy, enabling surgeons to develop a pre-surgical plan that customizes implant size, positioning and alignment specifically for each patient.[8] During the procedure, real-time visual, tactile, and auditory feedback enforces a safety-zone and facilitates ideal implant positioning and placement, which reduces potential for complications.[9]

MAKOplasty is offered in over 150 hospitals such as Jordan Hospital in Massachusetts,[8] Mercy Medical Center in Baltimore, Maryland,[10] Quincy Medical Center in Massachusetts,[11] Hospital for Special Surgery in New York,[12] and the Mayo Clinic Hospital in Jacksonville, Florida.[13]

Awards

See also

References

  1. ↑ 1.0 1.1 Maranjian, Selena (14 February 2013). "Buy, Sell, or Hold: MAKO Surgical". Motley Fool. Retrieved 15 February 2013.
  2. ↑ 2.0 2.1 Bandell, Brian (7 January 2013). "Mako Surgical Meets 2012 Sales Targets". Biz Journal. Retrieved 15 February 2013.
  3. ↑ Marie Savard (2 February 2009). Hi-Tech Knee Replacement (Television). Good Morning American via ABC News.
  4. ↑ 4.0 4.1 "MAKO Surgical Financials". MarketWatch. Retrieved 29 March 2013.
  5. ↑ http://www.reuters.com/article/2013/09/25/makosurgical-offer-stryker-idUSL4N0HL2KQ20130925
  6. ↑ "Mako Surgical Corp.". The Boston Globe (HighBeam). 20 September 2011. Retrieved 18 February 2013.
  7. ↑ Brian Williams. Robo-Doc (Television). NBC Nightly News.
  8. ↑ 8.0 8.1 8.2 "Jordan Hospital: MAKOplasty Now Available At Jordan". Wicked Local - Plymouth. 1 November 2012. Retrieved 15 February 2013.
  9. ↑ Domb, M.D., Benjamin (23 August 2012). "Questions To Ask Your Doctor Before Getting A Hip Replacement". The Doings (HighBeam). Retrieved 18 February 2013.
  10. ↑ "MAKOplasty: Only At Mercy Medical Center". Maryland Physician Magazine via Issue.com. July–August 2012. Retrieved 15 February 2013.
  11. ↑ Doyle, Karen (March 2012). "MAKOplasty Improves Surgical Precision and Patient Outcomes at Quincy Medical Center". MD News. pp. 6–8.
  12. ↑ Pearle, Andrew. "Robotic Knee Resurfacing". Hospital For Special Surgery. Retrieved 25 February 2013.
  13. ↑ "Now At Saint Anne’s Hospital: Makoplasty". The Women’s Journals. Retrieved 25 February 2013.
  14. ↑ 14.0 14.1 Bandell, Brian (7 January 2013). "Fast Tech Awards". Biz Journal. Retrieved 15 February 2013.
  15. ↑ Torres, Ashley (14 October 2013). "Photo Gallery: Fast Tech Awwards". Biz Journal. Retrieved 15 February 2013.
  16. ↑ "Avaya, Cisco, Corptax, HP Software, and Mako Surgical Achieve Certified Support Staff Excellence Center Designation from the Technology Services Industry Association" (Press release). Technology Services Industry Association. 17 October 2012. Retrieved 15 February 2013.
  17. ↑ "Winners Announced For The 2011 MarketTools ACE Awards" (Press release). MarketTools. 15 February 2011. Retrieved 15 February 2013.

External links