Mr. Paul discovered the ExcelsiusGPS’ prototype in 2013. Blown away, he purchased the robotic surgery system from its founder. The robotic surgery system earned FDA clearance in August 2017, and since then, Globus Medical’s stock has climbed 65 percent, according to the report.
Because Mr. Paul owns a quarter of Globus Medical, his stake adds up to approximately $1.3 billion. Globus Medical is also one of two companies who developed spine surgery robotic systems. The ExcelsisusGPS costs $1 million per unit as hospitals across the country are looking to implement robotic surgery.
Marzor Robotics is the other creator of a spine surgery robotic system. Medtronic plans to acquire the company in a $1.6 billion deal. These companies are not the only ones excited about robotic surgery. Jeffrey Wang, MD, president of the North American Spine Society, told Forbes, “I think everyone’s very excited about robots. It sounds kind of sexy, and I think people realize there is a lot of potential there.”
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