Medtronic Invests $700M in Chinese Surgical Robotics Firm Cornerstone Robotics, Secures Ex-US Distribution Rights

Source: Compiled by the Medical Device Distributors Alliance

September 1,MedtronicWithCornerstone RoboticsSimultaneously Announced: Establishment of a Strategic Partnership. Medtronic to thisA Chinese Endoscopic Surgical Robotics Company Founded in 2019, with strategic investments of approximately $700 million—Equivalent to approximately RMB 4.7 billion。

The money exchanged is not for equity, but forDistribution rights for the Cornerstone® endoscopic surgical robot in certain approved markets outside the United States.

SiTeng® is the flagship product of Cornerstone Robotics. Public product information indicates that it features a 600° flexible wristed robotic arm, an ultra-large 27L master console workspace, and a glasses-free 3D visualization system.

ObtainedFollowing the acquisition of distribution rights, Medtronic will market Senovo® alongside its proprietary Hugo RAS system, officially describing it as "Hugo-based, by SenTire's expanded multi-port product portfolio".

"Sentire complements the Hugo RAS system,"Medtronic will be the only company to offer this combination of two platforms integrated with our surgical ecosystem.“said Matt Anderson, Senior Vice President and President of the Surgical Business at Medtronic, in the announcement.”

In a nutshell, the essence of this transaction:Medtronic is not just adding a product; it is filling a gap in its product portfolio.

It typically takes 5 to 8 years for surgical robots to go from R&D to regulatory approval. Medtronic’s own Hugo system followed this path but took even longer: it received EU CE marking in October 2021 and did not obtain U.S. FDA approval until December 3, 2025, with approval limited to urological procedures.June 3 this year, Medtronic announced the submission of an application seeking approval for its HugoIndications Expanded to General Surgery(including hernia repair) andField of Gynecological Surgery.

Cornerstone Robotics, meanwhile, has already completed this journey ahead of schedule. Its SiTeng® system received market approval from China’s National Medical Products Administration (NMPA) in September 2024, and subsequently obtained both EU CE marking and Singapore Health Sciences Authority (HSA) certification in May 2026, thereby achieving simultaneous market access across these three regions and covering four major specialties: urology, general surgery, gynecology, and thoracic surgery.

By comparing the two, the essence of this investment becomes clear:Buy time.

The market access progress already completed by Cornerstone Robotics represents the registration cycle that Medtronic no longer needs to wait for. The departments where Hugo can be sold today are exactly those where Cornerstone’s products can also be sold. The core asset acquired through this transaction is not the product itself, but time.

The sense of urgency also stems from the overall landscape.

Hugo has been deployed across 35 countries on six continents worldwide, with its surgical volume growth rate more than double that of the overall robot-assisted surgery market. Cumulative surgical procedures are projected to exceed 50,000 by the end of this fiscal year. While progress is substantial, the global penetration rate of robot-assisted surgery remains in the single digits, intensifying competition among key players: Intuitive Surgical’s da Vinci system has advanced to its fifth generation, and Johnson & Johnson’s OTTAVA is also gaining momentum.

The window of opportunity waits for no one; Hugo’s indications can only be expanded incrementally.Partnering with a domestically produced platform that has already secured multi-market approvals is the fastest way to fill the gap.

"Domestically produced" is itself a bargaining chip. Cornerstone Robotics has independently developed everything from mechanical structures and electronic systems to control software and complex algorithms. According to reports by Arterial Network,The self-developed and self-manufactured proportion of its core components reaches 99%.For Medtronic,Partnering with a company that holds complete independent intellectual property rights reduces the risks of technological dependence and supply chain disruption.

Cornerstone Robotics’ confidence stems from more than just its products.

Ou Guowei, Founder of Cornerstone RoboticsHolds a Ph.D. in Mechanical Engineering from MIT, and previously worked atIntuitive Surgical, leading the core development of da Vinci Si software and control algorithms, after which he taught at The Chinese University of Hong Kong and founded Cornerstone Robotics in 2019. Headquartered in Hong Kong, China, with R&D and manufacturing rooted in Shenzhen, the company is backed by institutions such as HKSTP Investors Limited, Qiming Venture Partners, Meituan Longzhu, and Lilly Asia Ventures.

According to the investment financing database, it has raised a total of approximately RMB 3.226 billion across six rounds, with Meituan Longzhu increasing its stake three times. In November 2025, Cornerstone Robotics just completed an oversubscribed financing round of about USD 200 million.

Medtronic in 2026: Acquisition Pace Significantly Accelerates. According to statistics from MedTech Innovation Network, Medtronic has carried out more than ten mergers and acquisitions since the beginning of 2026, with Chinese companies playing an increasingly significant role.

April 2026,Medtronic Leads $100 Million Series D Funding Round for Pama MedicalSimultaneously sign the commercial cooperation agreement. PAM Medical's PADN (Pulmonary Artery Denervation) is the world's first minimally invasive interventional therapy for pulmonary artery denervation. Approximately 1,500 procedures have been performed globally, with regulatory approvals obtained in seven countries. Its research was published in the New England Journal of Medicine (NEJM) in 2026. According to public reports, this marks the first time a Chinese original cardiovascular technology has been featured in NEJM.

When the two lines are overlaid, the patterns show a high degree of consistency:Medtronic does not engage in pure financial investments or full acquisitions; instead, it employs a dual-binding strategy of “strategic investment + commercial collaboration”—where you provide products and technology, and Medtronic provides global distribution channels, while the corporate entity remains independent. This approach essentially uses capital to integrate Chinese innovations into its global distribution network.

Medtronic is not the only player pursuing this strategy.

For domestic medical device companies, the significance of Cornerstone Robotics lies in its being the first to successfully pave the way for "distribution by industry giants."Rather than shipping devices out of the country one by one, we are taking our products global by integrating them with worldwide distribution channels.

In the past, China's medical device sector focused on introducing innovative overseas products to the Chinese market for sale.The direction is now reversing.：Chinese companies are also beginning to bring their products and global registration certificates, waiting for multinational giants to come knocking with capital.