J.P. Morgan Healthcare Conference 2019 - Gary Guthart Chief Executive Officer, Intuitive - Intuitive | ISRG for Investors
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J.P. Morgan Healthcare Conference 2019 Gary Guthart Chief Executive Officer, Intuitive January 2019
Forward looking statement
These slides and any accompanying oral presentation by Intuitive Surgical,
Inc. contain estimates and forward-looking statements. Actual results may
differ materially from those expressed or implied as a result of certain risks
and uncertainties. These risks and uncertainties are described in detail in
the Company’s Securities and Exchange Commission filings.
Note: Some products shown in this presentation may not yet have obtained
regulatory clearances in this country. These products are therefore not for sale in
this market. Please check with your local Regulatory contact for current status.
2
In 2018, there were more than…
1500 1,000,000 900 6,000,000
peer reviewed procedures da Vinci systems procedures
articles published performed placed performed to date
3
2018 Commentary
Objectives Areas of Strength
• Continue adoption in General Surgery • U.S. general surgery growth
• Continue to develop core European • New system installs
markets and Asian market access • Innovation pipeline
• Advance new platforms – da Vinci SP
System, Ion, and advanced
instrumentation
• Support additional clinical and Challenges
economic validation by region
• Performance in some EU countries
• Macro trade environment
4
Worldwide Procedure Trend
2019 Guidance
1,250,000 13-17% Growth
2018
18% Growth
1,000,000
750,000
500,000
250,000
0
2013 2014 2015 2016 2017 2018 2019
Urology
Other GeneralGynecology
Surgery General Surgery
Gynecology Urology Other
Estimated Growth
5
Growth in procedure categories
Global over past 10 years
400,000
350,000 TORS
Thoracic
300,000
General Surgery
250,000
Gynecology
200,000
Urology
150,000
100,000
50,000
0
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
General Surgery Gynecology Urology Thoracic Surgery TORS
6
System Placements Installed Base
+35% +13%
900 5,000
4,500
800
4,000
700
3,500
600
3,000
500
2,500
400
2,000
300 1,500
200 1,000
100 500
0 0
2016 2017 2018 2016 2017 2018
Rest-of-World Asia Europe U.S. Rest-of-World Asia Europe U.S.
7
Total Revenue*
2018
19% Growth
71% Recurring
$3,500
$3,000
$2,500
$2,000
$1,500
$1,000
$500
$0
2013 2014 2015 2016 2017 2018
Systems Service Inst & Accy
*Dollar amounts in millions
8
Where are we heading next?
9
Our goal is not a mystery
Better outcomes
more than minimally
Better patient experience invasive tools.
requires
Better care team experience more than digital
technology.
Lower total cost of care
10How we get there: Through ingenuity and intelligent technology
that expands the potential of physicians to heal without constraints.
Better outcomes Advanced Tools
& Technologies
Better patient experience Augmentation of
care team capabilities
Better care team experience Data analytics for deep
insight and guidance
Lower total cost of care
Substitution of
Invasive Modalities
11Care team Control center
12Care team Control center
13Intelligent Surgery
+ +
Human Smart systems Digital
understanding & instruments insights
Time and Motion Studies Cloud-based systems Procedure reports
Design EndoWrist instruments Strategic and financial insights
Human Factors Advanced visualization OR operational Insights
14Our investment philosophy
The need for improvement As we grow, we invest in We pursue partnerships We return capital to
in acute interventions is operational efficiencies at and acquisitions that can shareholders with a
substantial and durable; we scale to allow for flexibility in accelerate outcome and focus on long-term value.
are assertive in pursuit of pricing for customers and re- efficiency improvements.
organic innovation in products investment in our business.
and regions as first priority.
15Intuitive Japan
April 2018
Japan Procedures
Additional procedures reimbursed
June 2014
Intuitive opens direct office
April 2012
Prostatectomy reimbursed
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
(Est)
16Recent Regional Investments
Invested in China through Intuitive Fosun
Pharma joint venture – Chindex division of Fosun
Pharma integration into JV starting in Q1 2019
Acquired Intuitive business in Taiwan in Q4 2018
Acquired Intuitive business in India in Q2 2018
172019 Priorities
Accelerate Access to and Quality of MIS
Support Adoption in General Surgery and in key procedures in OUS markets
Launch da Vinci SP and ION platforms
Drive intelligent surgery innovation
Drive clinical and economic validation in emerging regions & procedures
18Intuitive.com
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