Adept's Advanced Robotic Technology and Expertise Uniquely Suited for Projected $2.5 Billion U.S. Surgical Assistant Robotic Market
LIVERMORE, Calif.- March 3, 2008 - Adept Technology, Inc. (NASDAQ:ADEP), a global, leading provider of intelligent robotics systems, and Prosurgics, a leading image-guided surgical robotics company, today announced an agreement to collaborate on the design and development of the next generation of Prosurgics' surgical robotic systems for image-guided and navigated neurological and soft tissue surgery.
The companies will leverage Adept's leadership in advanced image-guided robotic products and Prosurgics' depth of experience in image-guided and navigated surgical robotic systems to create innovative products to address critical needs within the fast-growing surgical robotics market. The surgical robotics market in the USA alone is forecast to be worth approximately $2.5 billion by 2011 (BCC Research) with an expected average annual growth rate of 43% in the period 2006-2011. Examples of the emerging surgical robotics market are in cardiac and prostate surgery. Surgical robots are now performing more than 50% of prostatectomies in the US. Clinical outcome data for the latter has shown superior patient outcomes while at the same time delivering a compelling economic benefit.
"The surgical robotics market requires very high precision products with no room for error," said Rob Bucher, Adept's chief executive officer. "Our goal in working with Prosurgics is to create technology platforms that can be used in a range of surgical systems thereby lowering these systems' total cost of ownership and expanding the reach of our technology throughout the surgical market. Prosurgics' technology and commercial strategy is complementary to our own and will strengthen Adept's position in this important high growth market allowing us to more quickly address the market."
"This collaboration with Adept Technology is a major milestone in Prosurgics' rapid growth in the global surgical robotics market," said Paul Moraviec, Prosurgics' Chief Executive. "Adept's leading position in advanced robotics will enable us to jointly develop competitive and innovative surgical robotic solutions, optimizing time to market and reducing cost. Our vision is to provide affordable products that enable surgeons to deliver improved outcomes to their patients and that will optimize economics for healthcare providers."
About Adept Technology, Inc.
Adept is a global, leading provider of intelligent robotics systems and services that enable customers to achieve precision, speed, quality and productivity in their assembly, handling, packaging, testing and other automated processes. With a comprehensive portfolio of high-performance motion controllers, application development software, vision-guidance technology and high-reliability robot mechanisms, Adept provides specialized, cost-effective robotics systems and services to high-growth markets including Packaged Goods, Life Sciences, Disk Drive/Electronics and Semiconductor/Solar; as well as to traditional industrial markets including machine tool automation and automotive components. More information is available at www.adept.com. Adept is headquartered in Livermore, Calif. and can be reached at 925-245-3400 or www.adept.com.
About Prosurgics Ltd.
Prosurgics is a leader in the rapidly growing worldwide market for image-guided surgical robotics. Its range of robotic solutions improves patient outcomes and healthcare economics in hospitals around the world. The company's comprehensive technology portfolio encompasses image-guided and tele-manipulator systems, together with surgical planning and intra-operative navigation capabilities. Complemented by the closest understanding of surgeons' evolving needs, Prosurgics delivers innovative and effective solutions for today's surgeons and hospitals. Prosurgics provides the highest levels of customer care from its offices in the UK (High Wycombe) and Germany (Berlin), and through expert distributors throughout the world. Further information is available at www.prosurgics.com. Prosurgics is headquartered in High Wycombe, United Kingdom, telephone: +44 (0)1628 536900.
CONTACT: Adept Technology
Press and Industry Analysts:
Lauren Bucher, 925-245-3400