TransEnterix, Inc. operates as a development stage medical device company. The company is focused on the development and commercialization of SurgiBot™, a novel patient side minimally invasive surgical robotic system. It uses flexible instruments and robotics to improve the outcomes of minimally invasive surgery. The company was formerly known as SafeStitch Medical, Inc. after merger it has changed its name to TransEnterix, Inc. TransEnterix was founded in August 1988 and is headquartered in Morrisville, NC.
TRXC has finalized its design for the SurgiBot and will submit the device for FDA(510)k clearance in Q4 of 2014, expecting approval and commercialization in mid 2015.
The SurgiBot will retail for $500,000, and will be the first surgical robot on the market to compete with Intuitive Surgical's Da Vinci System for a fraction of the price.
The SurgiBot has 100% tactile feedback, a huge feature that all surgeons look for when conducting surgery. TransEnterix's competitors, like TITXF, who is still far behind in the development of their SPORT system when compared to TransEnterix, has zero tactile and zero haptic feedback.
TRXC has 6 professional analysts covering the stock, all with buy ratings, and price targets as low as $6.00 per share, and as high as $10.00 per share.