Canady Life Sciences Acquires Endocontrol to Accelerate Entry into Robotic Surgery Market

VCBeat (WeChat ID: vcbeat) learned from foreign media that on June 12, U.S. life sciences company Canady Life Sciences announced the acquisition of French robotics company EndoControl, integrating it into the relevant operations of its U.S. parent companies, US Medical Innovations (USML) and US Patent Innovations (USPL), to expand its product portfolio. The specific financial terms of the transaction were not disclosed.

It is reported that following this acquisition, Clement Vidal, Co-founder and CEO of EndoControl, will continue to serve as the company’s CEO.

Canady Life Sciences is a subsidiary of the USML family. Founded in 2009, USML is a medical device company headquartered in Takoma Park, Maryland, USA. The company is dedicated to expanding access to healthcare by developing advanced medical devices, thereby enhancing patient treatment outcomes and improving patients’ quality of life.

EndoControl, founded in 2006 and headquartered in La Tronche, France, is dedicated to the design, manufacture, and sale of robot-assisted systems for minimally invasive and laparoscopic surgeries. Its technologies are protected by more than ten patents and trademarks. EndoControl has developed numerous robotic medical devices, such as an electric robotic endoscope positioner that enables laparoscopy via voice or foot control; the VIKY robotic system, which provides ultra-compact electric uterine positioning for gynecological surgeries; and the JAIMY robotic system, designed to perform surgical procedures within the patient’s abdominal cavity, among others. To date, the company has sold over 200 robotic systems.

Among these, the VIKY robotic system developed by the company is available in three models: VIKY M, VIKY XS, and VIKY X. The VIKY M is used for gynecological, urological, and general laparoscopic surgeries; the VIKY XS is employed in pediatric, thoracic, and laparoscopic procedures; and the VIKY X, which has a larger diameter, is designed for single-port and single-incision laparoscopic surgeries. Meanwhile, the JAIMY robotic system is a 5-mm motorized articulated surgical instrument suitable for colorectal surgery, partial nephrectomy, radical prostatectomy, gastrectomy, esophagectomy, and bariatric bypass surgery.

Currently, the VIKY robotic system has obtained FDA and CE Mark certifications. The JAIMY robotic system has obtained CE Mark certification. EndoControl is selling its robotic systems in 15 countries across Europe, Asia, Latin America, and other regions.

Regarding this acquisition, Dr. Jerome Canady, CEO of USMI and Chairman of the USPI family of companies, commented: “The acquisition of EndoControl will accelerate USMI’s entry into the robotic surgery market. This transaction will increase our intellectual property portfolio to 195 patents. Our voice-controlled technology will be integrated with the Canady Robot Optical Navigation System (CRONS), which utilizes cold plasma energy beam technology to perform cancer ablation procedures without manual operation.”

Jerome Canady stated, “We plan to market EndoControl products alongside the Canady SR-70 Robotic system. The Canady/EndoControl robotic system enables physicians to perform robot-assisted laparoscopic, thoracoscopic, and minimally invasive surgeries directly at the operating table, rather than from a modular workstation located away from the patient. Our new robotic technology will offer voice control, SMART capabilities, and haptic feedback with 4K visualization.”

He stated, “Currently, the price of the USMI robotic-assisted system is approximately 70% lower than that of other robotic-assisted surgical systems on the market, and both VIKY and JAIMY are reusable. We plan to launch our Canady/EndoControl robotic-assisted surgical system in the fourth quarter of 2019.”

(Compiled by Wang Chan)