CMR Surgical

CMR Surgical has developed a robot called Versius, which should help surgeons performing small-access operations with complex procedures. Versius is equipped with several manipulators that help relieve unnecessary tension from the surgeon's hands, preventing trembling.

Performance indicators

2017-2018

The creation of robots turned out to be an expensive enterprise, hence the growing losses of the company. In 2018, they amounted to $50 million against $10 million in 2017. Research and administrative expenses amounted to almost $60 million in 2018.

History

2021: Raising $600 million, estimated at $3 billion

At the end of June 2021, robot surgeon manufacturer CMR Surgical raised $600 million in Series D funding and was valued at $3 billion. The round was held SoftBank Vision Fund 2ii together with Ally Bridge Group, and the funds received will be used to commercialize the new generation surgical robotic system Versius for open and laparoscopic operations, as well as to further develop the company's digital ecosystem.

According to the company, CMR collaborated with leading surgeons and clinics in the development of the new robot surgeon. The small size, portability and versatility of Versius have made this system very popular in hospitals around the world. As part of the ongoing international campaign, CMR Versius has been successfully represented in several regions around the world, including Europe, Australia, India and the Middle East. At the same time, the demand for the Versius system continues to grow.

Robot surgeon manufacturer CMR Surgical raised $600 million in investments and was valued at $3 billion

Series D provided funding for the full implementation of the CMR strategy to rapidly reach new geographical regions in order to develop a long-term and independent international business. The new funds also support the continuous development of the system's digital infrastructure, including new technological developments such as Versius Connect, an application for surgeons using the Versius surgical robotic system.

In addition to SoftBank Vision Fund 2 and the Ally Bridge Group, funding was supported by international investors such as RPMI Railpen, Tencent and Chimera, which expanded the geographical reach of the shareholder base. The round also included existing CMR investors including LGT and its subsidiary investment platform Lightrock, Watrium, Cambridge Innovation Capital, PFM Health Sciences and GE Healthcare.^[1]

2020: Attracting Investment

The company received significant financial support in anticipation of the launch of devices in British hospitals (more about the project here) - over $230 million from a number of previous investors, such as Escala Capital Investments and Watrium, as well as from new investors from the United States. CMR Surgical also received support from the Chinese state fund Zhejiang Silk Road, which invested almost $100 million in the Series B round. CMR Surgical co-founder and chief medical officer Mark Slack said the robot is a "cost-effective" alternative that should attract investors and hospitals themselves.

2019: Change of CEO

In December 2019, personnel restructuring took place at CMR Surgical: a new CEO was appointed. It was Per Vegard Nerseth, who replaced Martin Frost. The latter remained in the company as a non-executive director.

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