Bryce
👤 SpeakerAppearances Over Time
Podcast Appearances
Okay.
I'll start at the top.
Intuitive surgical.
I'm just going to read out what I've got here.
So yeah.
Yeah.
They make the da Vinci robotic surgery system, more than 11,000 of them in hospitals around the world, doing more than 2.8 million surgeries.
And as we've said, the business model is sell the robot, sell the disposable instruments, and then there's arm services as well.
So the big bet really is that...
the robotic surgery market grows and intuitive surgical increases their penetration.
It's pretty straightforward.
They specialize in soft tissue robotic surgery, and that is still less than 10% penetration globally.
Surgeon training creates massive switching costs.
It's hard to see them being beaten given the sort of the scale that they have.
So that's the bet.
Yeah.
I mean, it seems like the thesis is more surgeries will transfer from human to robotic and they will get the majority of the robotic business.
That's the thesis.
All right.
So what are the red flags?