Manufacturing in the Silicon Valley: Intuitive Surgical, the secrets to their success and a tour of their assembly operations in Sunnyvale
Thursday, November 1, 2012 from 6:30 PM to 9:00 PM (PDT)
Gus Castello, Intuitive Surgical Senior VP of Product Operations, will share his insights on manufacturing in the Silicon Valley; what are the trends, how can we encourage more local manufacturing, and what has made Intuitive successful with regard to manufacturing in the Silicon Valley.
6:30-7:45 Guided Tours, Networking, and Food
8:00-9:00 Presentation and Q&A
About Intuitive Surgical
Intuitive Surgical, Inc. (NASDAQ: ISRG) is the global technology leader in robotic-assisted minimally invasive surgery (MIS). The Company's da Vinci® Surgical System offers surgeons superior 3D HD visualization, enhanced dexterity, greater precision and ergonomic comfort for the optimal performance of MIS. The da Vinci System enables surgeons to perform even complex procedures such as heart valve and cancer surgery through 1-2 cm incisions.
This breakthrough is allowing hospitals everywhere to extend the benefits of MIS to a broader base of patients. An investment in an MIS initiative built around the da Vinci Surgical System can provide hospitals with greater productivity and operational efficiencies. Improved operational efficiencies may result in reduced incidence of complications and post-operative infections; reduced need for blood transfusions and post-operative pain management, simplified post-operative nursing care and reduced length of stay.
The original prototype for Intuitive Surgical’s da Vinci System was developed in the late 1980s at the former Stanford Research Institute under contract to the U.S. Army. While initial work was funded in the interest of developing a system for performing battlefield surgery remotely, possible commercial applications were even more compelling: It was clear to those involved that this technology could accelerate the application of a minimally invasive surgical approach to a broader range of procedures.
In 1995, Intuitive Surgical was founded to test this theory. In January 1999, Intuitive launched the da Vinci Surgical System, and in 2000, it became the first robotic surgical system cleared by the FDA for general laparoscopic surgery. In the following years, the FDA cleared the da Vinci Surgical System for thoracoscopic (chest) surgery, cardiac procedures performed with adjunctive incisions, urologic, gynecologic, pediatric and transoral otolaryngology procedures. In June 2000, Intuitive Surgical completed a successful initial public offering. This was followed by a second successful public offering in 2003. In 2003, the company also acquired its principal competitor, Computer Motion, strengthening its intellectual property holdings.
Today, more than 1,840 da Vinci Systems are installed in over 1,450 hospitals worldwide. As of March 31, 2011, Intuitive Surgical held exclusive field-of-use license for more than 870 U.S. and foreign patents as well as more than 990 pending U.S. and foreign patent applications. Intuitive Surgical’s patents and patent applications relate to a number of important aspects of its technology, including the surgeon console, electromechanical arms, vision system, endoscope positioning system and EndoWrist instruments. In addition to developing its own proprietary technologies, Intuitive Surgical has established relationships with several industry leaders including IBM Corporation, Massachusetts Institute of Technology (MIT), Johns Hopkins University (JHU) and Heartport, Inc. (Johnson & Johnson). The Company has also entered into industry collaborations with companies including Ethicon Endo-Surgery (Johnson & Johnson), Luna Innovations, Power Medical Interventions, Teleflex Medical, InTouch Health, Stryker, Novadaq and Mimic.
Headquartered in Sunnyvale, California, Intuitive Surgical has more than 1,729 employees in offices worldwide. Intuitive Surgical ended the first quarter of 2011 with cash, cash equivalents and investments of $1.8 billion, up $388 million from March 31, 2010. First quarter 2011 operating income increased to $148 million, compared with $130 million for the first quarter of 2010.
The da Vinci System is the #1 option for minimally invasive hysterectomy in the United States, the #1 surgical treatment option for U.S. women diagnosed with gynecologic cancer,1 and is chosen by more U.S. men than any other treatment for prostate cancer.
About Haas School of Business
As the second-oldest business school in the United States, the Haas School of Business at the University of California Berkeley is one of the world's leading producers of new ideas and knowledge in all areas of business — which includes the distinction of having two of its faculty members receive the Nobel Prize in Economics over the past 15 years.
The school offers outstanding management education to about 2,200 undergraduate and graduate students each year who come from around the world to study in one of its six degree-granting programs. The school has 36,000 alumni.
The school’s mission is to develop innovative business leaders - individuals who redefine how we do business by putting new ideas into action in all areas of their organizations, and who do so responsibly. The school’s distinctive culture is defined by four defining principles:
- Question the status quo
- Confidence without attitude
- Students always
- Beyond yourself
About Silicon Valley Chapter for the Haas School of Business
Most recently winning "Chapter of the Year" across the global Haas community, the Silicon Valley Chapter focuses on organizing outreach and networking events for the benefit of the Haas alumni community. The organization is managed exclusively by Haas alumni and puts on 10 to 15 public events per year focused on diverse business areas that are of interest to the greater Silicon Valley business alumni community. Events are typically held at larger bay area restaurants or at corporate headquarters of local companies, and generate between fifty and two hundred attendees that represent a diverse cross section of the business school's alumni in Silicon Valley. About 10% to 20% of attendees may be affiliated with other business schools.
Examples of past events:
- Digital Entertainment and Social Networking: What’s New, What’s on The Horizon, and How it Will Change Our Lives; venue Electronic Arts
- Real Estate and Mortgage Markets: Current Challenges and Outlook for the Next Two Years; venue Trader Vic's restaurant
- Haas, HAN South Bay VC and Angel Event: From Idea to Capital, Best of Breed Strategies for Funding Early Phase Companies; venue Wilson Sonsini Goodrich & Rosati
- From Manager to an Executive: Developing leadership attributes for success; venue Wilson Sonsini Goodrich & Rosati