Let’s break down value of SP by real world percentage of sales/usage of multi port vs SP. I tried in the past and I’ll try once more.
Intuitive SP approved in 2014. At the end of 2020 they had … wait for it, a whopping installed base of 69 SP robots. Being generous and averaging over five years vs six from 2014 to 2020 that is only 14 SP robots sold/installed per year.
With the clout, access of installed MP systems of Intuitive to expand upon and a wide open space with zero competition that is just a blip on the radar with just a fraction over 1 system PER STATE in 5 years. Hardly the $4 to 5 B in sales some are saying ENOS would bring in in the first five years.
Consider In the third quarter of 2019 Intuitive shipped 275 new da Vinci systems during the third quarter of 2019, compared to only four SP systems that were placed in operation for a total installed base of 38 at that time. That’s less than 2% of robots placed being SP!!
“The da Vinci SP nicely complements the da Vinci MP systems, stated Kathryn Mowr, VP of Robot Market Strategy.”
So as some continue to value ENOS at
$6-$10 consider valuing it based on actual sales/usage vs a MP robot due to its limitations for complex and multi-quadrant procedures. Also, as stated the SP is “complementary” to the SP so rarely purchased separately as a stand-alone system that can satisfy multiple specialty needs across all levels of complexity.
In the end if Metronic was to acquire Titan and Hugo would bring in 95+ % of the revenue vs Enos what is the value for a complementary robot to Hugo? Assome will argue Enos is far better than SP
feel free to use 80/20 as the ratio. Still not close to the sky high valuations that have been put out. The person putting out that valuation asked for a valid counter to their figures. Here you have it.
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