During the second quarter conference call, as transcribed by Seeking Alpha, Stryker's Katherine Owen gave an update on the company's Mako Surgical robotic technology line.
The company sold 44 Mako robots worldwide, including 35 in the U.S., up from 39 total robots in the second quarter of 2018. The company also reported it has more than 700 procedures installed globally, with around 600 being in the U.S.
"It's clear we are continuing to see high demand for Mako given its unique features as well as applications that span hips and knees, combined with a robust order book that positions us well to see ongoing success both in robotic sales and recon market shar gains," said Ms. Owen.
During the second quarter, Mako total knee procedures increased 80 percent from the previous year to 18,000 surgeries. Ms. Owen also reported increased Mako hip application use, which could lead to surgeons deciding to use the robotic technology on other procedures. The technology has also been making inroads into the outpatient space.
"We do sell some robots in the outpatient. It's a minority," said Ms. Owen. "They obviously have a keen interest in it because the outpatient hospital or ASCs like the new technology and we're seeing more and more evidence of the impact this has for patients and outcomes. That drives their interest."
In the outpatient setting, Stryker uses Flex Financial to ensure ASCs can purchase the equipment. A majority of the systems are still sold in the hospital-based setting.
Mako has been on the market in the U.S. for a while, but Stryker is just launching it in Japan and expects to have approval for the total knee application in China soon.
"Those are going to be exciting markets for us," said Stryker Chairman and CEO Kevin Lobo.