A New Era In Robotic Spine Surgery. Sept 2010

Transcription

1 A New Era In Robotic Spine Surgery Sept

2 Mazor Robotics TASE - MZOR 45 employees world wide Offices: US, Germany & Israel YTD financing: $49M; Cash balance : $19M Mature Technology Clinical effectiveness proven (>1,600 cases) 7 CE & FDA cleared products Clear & Validated Business Plan Foothold in Germany & Russia Ramping up sales activities in US Executing Intuitive Surgical sales model Bright Future Transitioning into a sales & marketing company Focused portfolio of products ( one stop shop for spine surgery) Expanding pipeline Experienced sales and management team 2

3 The US Spine Implants Market $6.8 billion market > 1,100,000 spine procedures Over 3,000 spine centers in the US 3

4 The Robotic Surgery Market (Prostatectomy & Hysterectomy) Intuitive Surgical: Market Cap $12.7B 2009 Revenues = $1.05B, Operating Profit = $377M 4

5 The Robotic Surgery Market (Knee Surgery) Procedures Revenues [$K] 40,000 30,000 20,000 10,000 0 Procedures Revenues E 2011E Installed Units Systems placements E 2011E Mako Surgical: Market Cap: $403M 2009: Revenues = $34M Net Loss = $34M 5

6 The Need For Robotics In Spine Surgery Spine (Multi Level) Fixation with Pedicle Screws Mazor Surgical Technologies Confidential

7 The Need For Robotics In Spine Surgery Pedicle Screws Inserted Free-Hand Are Misplaced in 10% of Cases Pedicle Screw Placement Accuracy: a Meta-Analysis Kosmopoulos V, Schizas C.; Spine 2007 Feb 1;32(3):E Misplaced Pedicle screw Revision Mazor Surgical Technologies Confidential

8 Our Value Proposition For Spine Surgery Patient Safety Speed of rehabilitation Risk of complications Aesthetics Radiation PV = Precision Invasiveness Surgeon Patient Value (PV) + Ease of use Prestige Marketing tool Cutting edge technology = Surgeon Value (SV) Hospital Admin (PV) + (SV) + Revenues Differentiation Market share Reputation = Hospital Value (HV) Patient Value (PV) = Precision Invasiveness 8 MAZOR ROBOTICS OFFERS VALUE TO ALL THE PLAYERS IN THE HEALTHCARE SPECTRUM

9 4 Operate The SpineAssist

10 The Workflow 1. Plan 2. Mount 3. Image CT Fluoro 4. Operate The SpineAssist in Clinical Use:

11 Rigid Attachment for Accuracy and Precision Plan 1 2 Mount CT Fluoro 3 Register 4 Operate Mazor Surgical Technologies Confidential 11

12 Automatic Image Fusion 1 Plan 2 Mount CT Fluoro 3 Register 4 Operate Automatic image-based registration Mazor Surgical Technologies Confidential 12

13 SpineAssist Procedure Flow Plan 1 2 Set-up CT Fluoro 3 Register 4 Operate The SpineAssist in Clinical Use: Mazor Surgical Technologies Confidential 13

14 A Clinically Validated System Over 1,500 spine surgeries to date Over 7,000 implants placed Zero cases of nerve damage Used daily in leading centers in over 25 centers globally Clinically validated in complex and simple cases in Europe and the US

15 Scoliosis and Severe Deformities Cases Multi-Center Scoliosis Case Series: Surgeons feedback: Once I went out of the cave, I will never return there Prof. Kirsten Schmieder, Head of Neurosurgery Dept. Manheim University Hospital, Germany SpineAssist is the system that produced the most reproducible results in terms of accuracy compare to all other systems that I have seen Dr. Devito, Scottish Rite Hospital, Head of Spine Division, Atlanta, USA Idiopathic Scoliosis Pre-operative summary of planning 13 Levels, 26 screws Idiopathic Scoliosis, 13 Levels and 26 screws Mazor Surgical Technologies Confidential 15

16 Robotic-based Guidance for Pedicle Screw Instrumentation of the Scoliotic Spine* *Devito et al., Robotic-based Guidance for Pedicle Screw Instrumentation of the Scoliotic Spine, SAS May 2010 The most complicated spine surgery 80 adolescents 1,163 screws Total fluoro: 2.4 seconds per screw 99.9% of screws clinically acceptable No device or implant related complications No screw revisions Mazor Surgical Technologies Confidential

17 SpineAssist Enables Less Invasive Surgery Open Minimally Invasive SpineAssist Surgical Kit to support traditional spine procedures: Pedicle screws Biopsies Cervical Fixation Emerald Proprietary Pedicle Screws Robotic Guided Minimally invasive insertion with less scaring Biomechanics equivalent to high end pedicle screws Mazor earns revenue in every piece of spine surgery space. 17

18 GO-LIF: SpineAssist Transforms Spine Surgery Open Percutaneous Enables A New Procedure Truly percutaneous Leaves less metal in the body Less fluoro exposure Faster recovery Less hospitalization Superior biomechanics Superior aesthetics >50 clinical cases CE cleared Proprietary Mazor implants (Key revenue generator) 18

19 Mazor Enables Percutaneous Surgery Nice To Have Necessity Must Have Disc Removal Anterior Plating Laminectomy Robotic Guided MIS Pedicle screws (Emerald) Scoliosis & Deformity Robotic Guided VCF (Vertiboplasty) GO-LIF (OnyX) Improve Value Proposition Enable 19

20 Pipeline Collaborations Brain Surgery: Agreement with Alpha Omega FDA clearance anticipated for 2010 First applications: DBS, Shunt placements and Biopsies Synergy with existing SpineAssist install base Time table: Clinical validation + FDA clearance during 2010 Target Market - US using Alpha Omega sales infrastructure C-Insight: Intra-OP 3D Imaging: Negotiating with major players Real-time, intra operative verification Leveraging our technology and knowhow Converting every OR to become Avatar enabled.. Comparable results to other technologies but for fraction of a price Reducing # of revision cases 20

21 Revenue Model Implantable Devices $6-8K per procedure Robot Disposable $1.2K per procedure 4 Spine Assist Surgical System $500K Operate per OR Service Agreement $50K per year 21

22 Sales & Marketing Snapshot Europe: Started sales in 2008 Germany, Austria, Switzerland: Direct sales Sale Team headed by Mr. Schmidt (Ex J&J Sales territory manager) Over 20 active systems installed > 800 clinical cases > 30 GOLIF cases USA Entering US market in 2010 Ramping up sales with clear and validated business plan Direct sale headed by Mr. Chris Sale, Ex VP Sales, Intuitive Surgical Mazor Sites In Germany UK, Holland, Belgium, France & Russia: Expanding into additional countries 22

23 da Vinci U.S. Installed Base Alaska through Q3 close Value (to all customers) driving adoption in hospitals Sales through administration $1.8M ASP 23

24 24 Mazor US 2010

25 25 Supporting Hospitals Marketing Campaign Media Kit

26 Mazor As A First Follower in Spine 26 Mazor Has What It Takes To Execute The Intuitive Model-The Product, People, Know-How & Experience

27 Thank You!