The surgical robotic company expects its second quarter revenue to reach $15.4 million.

Mazor Robotics Ltd. (Nasdaq: MZOR; TASE:MZOR) today announced that it had received 19 orders for its robot surgical systems in the second quarter of 2017. The company expects its second quarter revenue to reach $15.4 million, almost double its revenue in the second quarter last year.

16 of the orders are from US companies that bought the MazorX system, including seven upgrades of the company’s previous Renaissance system. The other three orders are for the slightly cheaper Renaissance system: one in the US and two elsewhere.

The orders are not part of those to which Medtronic is obligated under its cooperation agreement with Mazor; they are a real increase in the number of Mazor’s customers. The company’s orders backlog remains 14 systems, meaning that the company has managed to install many of the systems it sold in the preceding quarters.

Mazor reported the cancelation of one order, but CEO Ori Hadomi explained to “Globes” that the order involved was by a hospital for a specific department, and had been canceled in order to enable the hospital to order a system for a different department, so the cancelation had no business significance.

The growth in the number of systems ordered increases the likelihood that Medtronic will exercise its option in the second stage of its investment-commercial cooperation agreement with Mazor, including an order for hundreds of systems (amounting to tens, or even hundreds, of millions of dollars).

Read Full Article – Source: Globes English – Mazor receives orders for 19 robotic surgical systems

Author – Gali Weinreb, Globes [online], Israel Business News – www.globes-online.com