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CMR Surgical

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CMR Surgical Ltd
IndustryMedical devices & equipment
Founded2014
FounderLuke Hares, Keith Marshall, Paul Roberts, Mark Slack, Martin Frost
HeadquartersCambridge, United Kingdom
ProductsSurgical robot
Number of employees
650 approx
Websitehttps://cmrsurgical.com

CMR Surgical is a British medical device company based in Cambridge. It produces a robot-assisted surgery system called Versius. The company achieved Unicorn status in 2019, while in 2021 it received a valuation of $3 billion.[1][2]

With headquarters at Evolution Business Park, Cambridge and a global manufacturing hub in Ely, Cambridgeshire, the business also has a presence throughout Europe, Latin America, AMEA and Australia. Previously called Cambridge Medical Robotics, it changed name in March 2018.[3]

The Versius Surgical Robotic System is a rival of the established Da Vinci Surgical System and claims to be more flexible and versatile, having independent modular arms which are "quick and easy to set up". Some key patents for the da Vinci system have recently expired.[4]

In the United Kingdom (October 2023), CMR Surgical has 20 NHS hospital partnerships[5] including Guy’s and St Thomas' (London),[6] Royal Papworth (Cambridge),[7] Milton Keynes University Hospital, Western General Hospital (Edinburgh),[8] Gloucestershire Royal,[9] Manchester Royal Infirmary,[10] Lister Hospital (Stevenage),[11] West Hertfordshire Teaching Hospitals,[12] The University Hospital of Wales (Cardiff), Ysbyty Gwynedd (Bangor),[13] East Surrey Hospital,[14] Great Western Hospital (Swindon),[15] and Frimley Health (Surrey/Berkshire).[16]

In Australia in 2021, Macquarie University Hospital introduced the company's Versius robotics arm for keyhole surgery, following approval from the Therapeutic Goods Administration.[17]

In India, the 1,000th operation was performed by Professor Dr Raj Nagarkar, from HCG Manavata Cancer Centre, India in 2020. He said, “We are seeing clear patient benefits including reduced pain, and length of stay. Additionally, the open console means I can operate comfortably, helping to reduce physical tiredness from surgery. As far as the patient is concerned, obviously there is less pain, less bleeding and less risk of infection. I feel we need to elaborate on the advantages to the surgeon. Without being glued to the console, I could comfortably relax in a chair and operate. I have done six robotic-assisted procedures in one single day, without getting tired, myself.”

In 2021 CMR Surgical raised $600m at a $3bn valuation during a series D financing round. Escala Capital was its biggest investor followed by SoftBank Vision Fund 2 after the financing round. Notable other investors are GE Healthcare and ABB Technology Ventures. CMR Surgical said the funding was the world’s largest private financing round in the medtech sector, citing PitchBook data.[2]

In 2022, the Versius robotic system was adopted for urological procedures in Pakistan[18] and was also indicated for clinical use in thoracic. A successful trial in transthoracic esophagectomy was reported in Nature in October 2022.[19]

In April 2023 CMR Surgical has been honoured in the first ever King’s Award for Enterprise within the innovation category for the Versius Surgical Robotic System.[20] Also in April 2023, it was announced that approximately 350 staff were being made redundant.[21] In June 2023, the Engineers gallery opened at the Science Museum, London, featuring CMR Surgical’s Versius surgical robot arm and prototype.[22] In September 2023, CMR raised $165 million (£133m) as it prepared for the launch of its Versius soft tissue system into additional markets.[a][23] In October 2023, it was announced, the opening of a new manufacturing facility in the UK capable of producing up to 500 Versius systems per annum following a £10 million investment.[5]

In February 2024 CMR Surgical unveiled a significant update to Versius, a new imaging technology to visualise ICG (Indocyanine green), which is a fluorescent dye which is used as an indicator substance which is administered intravenously. It will help perform visual assessment of the vessels, blood flow and related tissue perfusion and biliary anatomy using the 3D visualisation of Versius.[24] In March 2024, CMR Surgical announced that over 20,000 Versius surgical cases have now been completed, the 20,000th case was performed at East and North Hertfordshire NHS Trust, UK.[25]

References

  1. ^ "Cambridge medical robotics pioneer CMR scales hugely as $240m Series C earns unicorn status". Retrieved 2023-04-25.
  2. ^ a b "UK surgical robotics start-up CMR raises $600m at $3bn valuation". Retrieved 2023-04-24.
  3. ^ "Robotics pioneer changes name to CMR Surgical". Business Weekly. 8 March 2018. Retrieved 8 October 2018.
  4. ^ "New Versius robot surgery system coming to NHS". BBC. 3 September 2018. Retrieved 8 October 2018.
  5. ^ a b "CMR Surgical strengthens UK innovation ecosystem by opening only global surgical robotics manufacturing facility in the UK". Cambridge Network. 2023-10-05. Retrieved 2024-04-01.
  6. ^ "Next-generation robot lands at Guy's and St Thomas'". NHS. 22 December 2021. Retrieved 26 April 2023.
  7. ^ "Royal Papworth Hospital robot to carry out thoracic surgery". NHS. 23 March 2023. Retrieved 26 April 2023.
  8. ^ "1,000 operations completed with CMR Surgical's Versius robot". Cambridge Independent. 2 December 2020. Retrieved 8 February 2021.
  9. ^ "Gloucestershire Royal Hospital Adopts CMR Surgical's Versius". Surgical Robotics Technology. 22 July 2021. Retrieved 26 April 2023.
  10. ^ "Manchester Royal Infirmary leading the way in robotic surgery". NHS. 22 September 2020. Retrieved 26 April 2023.
  11. ^ "Lister Hospital patient hails 'pain-free' robotic surgery after being one of the first to benefit from new Versius robot". NHS. 24 November 2022. Retrieved 26 April 2023.
  12. ^ "West Hertfordshire Teaching Hospitals NHS Trust Adopts Versius Surgical Robot". Surgical Robotics Technology. 8 April 2022. Retrieved 26 April 2023.
  13. ^ "Milestone of 100 robotic operations reached in Wales". NHS. 27 April 2023. Retrieved 28 April 2023.
  14. ^ "Robotic surgery first at East Surrey Hospital". NHS. 29 June 2021. Retrieved 28 April 2023.
  15. ^ "Major investment into new surgical robot". NHS. 3 March 2023. Retrieved 28 April 2023.
  16. ^ "New era in robotic surgery at Frimley Health". NHS. 1 October 2020. Retrieved 28 April 2023.
  17. ^ "Australian world leader adopts CMR's surgical robotics technology". Business Weekly. 5 February 2021. Retrieved 8 February 2021.
  18. ^ Technology, Surgical Robotics (2022-01-20). "CMR Surgical Announces Adoption of Versius for Urological Procedures in Pakistan". Surgical Robotics Technology. Retrieved 2022-01-26.
  19. ^ "Feasibility of transthoracic esophagectomy with a next-generation surgical robot". Nature. 26 October 2022. Retrieved 10 November 2022.
  20. ^ "CMR Surgical wins an inaugural King's Award for Innovation". Retrieved 2023-04-23.
  21. ^ "Shock for CMR Surgical staff as wave of redundancies announced". Cambridge Independent. 2023-04-06. Retrieved 2023-04-20.
  22. ^ "Major new gallery engineers opens at the science museum". Science Museum. 2023-06-23. Retrieved 2024-04-01.;"Engineers". Science Museum. Retrieved 2024-04-01.
  23. ^ Whooley, Sean (2023-09-20). "CMR Surgical brings in $165M to support surgical robot". MassDevice.
  24. ^ Quested, Tony (2024-02-09). "CMR Surgical unveils Versius update". Business Weekly. Retrieved 2024-04-01.
  25. ^ "CMR Surgical Announces 20,000 Procedure Milestone for Versius®". Surgical Robotics Technology. 2024-03-21. Retrieved 2024-04-03.

Notes

  1. ^ The funding round was led by Ally Bridge Group, Cambridge Innovation Capital, Escala Capital, LGT, Lightrock, RPMI Railpen, SoftBank Vision Fund 2, Tencent and Watrium.
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